Gamified yield farming with nonfungible tokens
The concept of yield farming has gained a lot of traction over the past year or so particularly because it enables crypto owners to stake their assets in return for tangible returns within short time windows. And while the thought of earning a profit on one’s investment may not be new at all, the idea behind yield farming — where users can earn rewards for making use of a particular DeFi application — is largely confined to the purview of the decentralized finance sector.
Also, much like yield farming, nonfungible tokens, too, have become extremely popular over the last couple of years. This is because these cryptographic entities — whose values are directly linked to a particular asset — are ideal for owning physical items such as artwork, property deeds, collectibles, such as CryptoKitties, as well as, digital commodities such as game skins, trading cards, etc.
Jesse Reich is the CEO of Splinterlands. Jesse graduated from Texas A&M University with a Ph.D. in chemistry in four short years, and at the age of 27, he became a professor. He spent 10 years as a leading university sales engineer across major corporate publishers. Upon discovering the economic and social liberties and protections that blockchain technology can afford, Jesse founded Splinterlands with Matt Rosen.
Aly Madhavji is the managing partner at Blockchain Founders Fund, which invests in and venture builds top-tier startups. Aly consults organizations on emerging technologies, such as INSEAD and the United Nations on solutions to help alleviate poverty. He is a senior blockchain fellow at INSEAD and was recognized as a “Blockchain 100” Global Leader by Lattice80. Aly serves as a board member of CryptoStar Corp and has served on various advisory boards including the University of Toronto’s governing council.
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