If you think decentralized finance is a serious vertical in the blockchain industry, Emoji DAO is here to prove you wrong. The company’s latest game project, LoserCHick, is a web3 gaming project consisting of DeFi NFT farming and Claw Crane Machine that shows us that earning and playing are possible.

Lareina Liang,  a member of Emoji Dao and crypto enthusiast with work experience in crypto wallets, exchange, public blockchain, and GameFi, will discuss why DeFi and NFT is a match made in heaven. Let’s take a deeper look.

What is NFT?

NFT or Non-Fungible Token is a digital asset that represents real-world assets such as music, videos, art, and in-game items. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos. Although they’ve been around since 2014, NFTs are gaining popularity now because they are becoming an increasingly popular way to buy and sell digital artwork. A whopping US$174 million has been spent on NFTs since November 2017.

“NFT is quite booming this year, although it was first launched in maybe 2014. The first guy who released the first NFT in 2014, which is an art piece by a professor at New York University. So the guy crossed art and technique. That's why the first NFT came out,” explains Liang. NFTs are also generally one of a kind, or at least one of a very limited run, and have unique identifying codes.

The LoserChick gameplay

In the LoserChick platform, you can enjoy the fun of catching and smashing eggs for NFTs, and LoserChick offers many ways for players to earn; there are two types of tokens in LoserChick, $CHICK and $EGG. You could also get NFTs by minting. “In this LoserChick game, you need to claw or throw a coin. When you play at a lottery machine, at some shopping mall, or somewhere you need to throw coins. That's exactly what happens in this game,” shares Liang.

LoserChick will be built on Polygon, which provides lower gas fees and higher transaction speed for exchange in high-frequency wallet interaction scenarios, improving the game experience.

What’s next?

LoserChick is a community-driven GameFi & NFT platform, and it always remains open enough. “Maybe GameFi in the NFT field will be the second-largest part in crypto space,” says Liang. As more and more people see the value of GameFi and NFTs, we can see more traction in the space. LoserCHick will combine finance and games, allowing people to earn money while they play. In the future, we can expect more games that embrace providing monetary benefits to their players.