Spielworks and Mycelium Network Launch Revolutionary NFT Refund Program


Spielworks and Mycelium Network Launch Revolutionary NFT Refund Program

Spielworks, a blockchain gaming startup, has joined forces with Web3 platform Mycelium Network to introduce a program facilitating complete reimbursements for nonfungible token (NFT) acquisitions. According to a press release conveyed to Cointelegraph, participants in the initiative can secure a full refund of $1.00 in USD Coin (USDC) upon procuring NFTs known as "Reverties." Spielworks has integrated these newly introduced NFTs into their game, Dungeon Master, enabling users to stake them and acquire them via a distinct minting mechanism utilizing USDC.

Through this collaboration, Spielworks will harness the capabilities of Mycelium Network to support USDC transactions. During the minting process, the USDC will be transferred to a decentralized finance (DeFi) lending pool hosted on the Aave protocol. The team at Spielworks disclosed that the accrued interest from this lending pool will be utilized to repurchase Spielwork's token, thereby bolstering their community. A portion of the earnings will also be earmarked to aid the Wombat Protection Society of Australia.

Adrian Krion, the co-founder and CEO of Spielworks, emphasized that the NFTs will possess utility within their game, Dungeon Worlds, granting players mining power and material drops. When queried about the backing of these NFTs with USDC, Krion clarified to Cointelegraph that they are not strictly "backed." He further elucidated that individuals have the option to sell them on the secondary marketplace, albeit potentially at a lower price, while still being eligible for a complete refund.

Krion also elaborated on the refund process, stating that users can effortlessly access the minting page and click on a refund button to initiate the reimbursement for their NFTs. Following this action, a transaction signature will emerge, confirming the transfer of the NFT to the smart contract and automatically deducting the refund amount from their funds pool.

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