Monday, December 4, 2023

Polemos to Build GameFi Platform That Enables Monetization of NFTs

According to online news sources, the popular gaming platform Polemos has reportedly launched its whitepaper that explains its strategy for the new GameFi platform. With this, the company is planning to create the first GameFi platform in the world that will allow individuals to monetize NFTs. Using the platform, the players will be able to connect idle non-fungible token assets from blockchain games. This will be a one-of-a-kind platform that will be a combination of a guild, marketplace, and college. The features will be governed by the Polemos token, which will be released to the public in the first quarter of 2022.

The Polemos token will work through the following mechanisms in the initial period –

1. Governance: In this mechanism, the long-term plans for Polemos will be determined by the stakeholders. The proposals will be voted upon and the stakeholders will also elect the Archons. The stakeholders will essentially function as the safety stop for the protocol.

2. Revenue Distribution: Of the total revenue amount allocated to the Polemos DAO, 100 percent will be distributed back. The majority of this portion will reach the stakeholders.

3. Staking Yield: Around 30 percent of the Polemos tokens will be given to the stakeholders in the form of additional yield over a 3-year period.

The company has said in a statement that the guild will be responsible for recruiting, training, and supporting participants in making money on the GameFi platform. Meanwhile, the individual investors can lay a stake in the idle NFT assets of games on the Polemos ecosystem. Through this, they will be able to generate more revenue.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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