The DeFi space is even more abuzz then usual as a long-awaited project is about to make its entrance on the Polkastarter platform. Superfarm will launch today, as Polkastarter pools are unlocked at 3pm UTC. the official listing time on Uniswap is one hour later at 4pm UTC.
The Ellio Trades project Superfarm has been long in the making. Subscribers to his YouTube channel will know that he has been working on a project for quite some time now, but it was about a month ago that he made a video to reveal his project for the first time.
The young entrepreneur has been building games, apps and websites for the last ten years. He decided after the last bull market in 2017, that crypto was the future platform for innovation. It was during the ensuing crash in 2018, that Trades and his team started to build “the perfect product”.
He wanted to bring users back into Crypto, so his product needed to be something that appealed to users, even outside of Crypto. The product also needed to have resistance against the surges and crashes that a volatile Crypto market was typically seeing.
The sector identified was that of video games. The fact that 2.6 billion gamers are regularly buying digital items equalling almost $100 billion was an extremely compelling use case for the right crypto project to break into this market.
“You better believe that if fortnight and Call of Duty had NFTs, then every kid under 15 would know how to work an Ethereum address like the back of their hand.”
The idea was that all the digital assets could be NFTs that are stored on the Blockchain so that undisputable ownership could be proved.
Superfarm goes much further than this though, and Trades remarks:
“Superfarm is a tool for any tokenised ecosystem across the space”
This means that Superfarm is a cross-chain DeFi protocol that allows any project or individual to set up their own NFT farms without having to code anything.
The 3 core features of Superfarm on launch will be:
- NFT and Token Farming – users can farm NFTs, crypto to crypto rewards or both
- NFT and Token Generation – enables users to generate an ERC-20 or other token type for their project once cross-chain is implemented.
- NFT Store – users can sell their NFTs peer-to-peer for crypto or for “redeemable points”
Is Superfarm about to become the universal home for farming?
Given all the hype that surrounds this project, and a great deal of interest from thought leaders across the space, Superfarm does appear to have the momentum and the innovative creativity to become the market leader. Many will be following this project with great interest.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.