Polyient Games, the first investment firm in the industry to focus on non-fungible tokens (NFTs) and blockchain gaming, has joined forces with Ava Labs to construct an NFT decentralized exchange (DEX) exclusively for Avalanche, the widely-scalable, open-source platform for introducing decentralized finance (DeFi) applications.
The upcoming Polyient Games Marketplace will include a decentralized exchange (DEX) along with other offerings such as exclusive NFT auctions and a peer-to-peer NFT exchange system, as well as more liquid NFT trading products intended to promote crypto investor mass adoption.
The Polyient Games Marketplace and DEX will be powered by PGFK Particles (XPGPs), a special utility token denoting a 1:1000 fraction of the coming PGFKs NFT for the Polyient Games Ecosystem. This PGFK-XPGP pairing is the first dual-state digital asset to possess exclusive rewards and usage capabilities.
XPGPs will not only be used for transacting NFT sales and other platform services, but also serve as the main trading pair for all fungible tokens that are listed on the Polyient Games DEX. These fungible tokens consist of in-game currencies and other NFT-related tokens from Polyient Games’ portfolio companies and associated networks.
“The current reality is that the congestion of the Ethereum network is hindering the adoption of blockchain gaming and the NFT asset class. By building on Avalanche, we are able to leverage a scalable infrastructure while maintaining bridges that facilitate the seamless transfer of ERC-20 and -721 assets.”
– Brad Robertson, CEO of Polyient
To jumpstart trading on the Polyient Games DEX, Polyient Games intends to create an AVAX-XPGP exchange market. Both holders of AVAX and XPGP will be able to transact with one another directly without requiring any third parties. AVAX is the fundamental measurement of value utilized in the Avalanche ecosystem, it ensures base security, covers network fees, and offers a wide selection of useful services. Ava Labs sold 42 million dollars (USD) worth of AVAX during its public sale in July.
The AVAX-XPGP market and similar ones will have decentralized liquidity, providing members of the Polyient Games Ecosystem with the chance to contribute their own resources to the token pools and receive a part of the transaction fees in return.
“NFTs and blockchain gaming are growing rapidly, and we’re excited to welcome one of the most exciting projects leading the evolution of these segments. With Avalanche as its foundation for its new DEX, Polyient and its marketplace of NFTs will be able to grow without limits.”
– Kevin Sekniqi, Co-founder of Ava Labs
Polyient Games and Ava Labs are collaborating to foster the connection between Ethereum and Avalanche, so as to support the development of upcoming blockchain gaming projects, along with researching novel DeFi applications for NFTs.
Registration for the upcoming PGFK sale is now open. Possessing more PGFKs will enable users to convert them faster into XPGPs, allowing them to take part in the Polyient Games DEX.
