The NFT space was red hot, but not without some critics rightly suggesting many entrants were putting forth unimaginative copycat projects and selling static jpegs lacking in a use case with only “hope” of creating collectability.
Recognizing “hope is not a strategy,” Yokozuna Finance has quickly gone from being the new kid on the dohyō to a leading DeFi NFT platform in the GameFi space.
With the gaming market already a multi-billion dollar industry and expected to grow exponentially in the coming decade, it is no surprise that functional NFTs are finally making their way into the space and are here to stay.
Today, with the introduction of its’ NFT auction marketplace at app.yokozuna.fi, Yokozuna Finances’ innovative Play-to-Earn NFT model has taken another step in affording participants the opportunity to use “Functional NFTs” to monetize their gameplay.
The project is loosely based on professional and amateur Sumo with aspirations to educate and entertain users through a fun and unique gamified DeFi experience.
Users will not only earn rewards for staking NFTs but govern the DAO. The team hopes proposals to fund Sumo initiatives in real life can help raise awareness for the sport globally.
For those new to the project, it is still early, as until now, users could only earn the project’s native token, $ZUNA, which has a total supply of 100 million.
The team has cleverly designed sustainable deflationary tokenomics in that 20% of the remaining supply is annually or about 42,000 ZUNA per day with approximately 27 million in circulation, which are easily tracked with the ZUNA price, burned, and emitted, among other metrics which are readily available on the D’App dashboard.
Today’s announcement signals the next chapter for the development of ZUNA, where “use case” and “consumption” will be introduced into the project.
The team is thrilled Yokozuna Finance NFTs have more functionality than collectability. IOST’s ultra-fast and highly scalable blockchain is perfect for gaming projects seeking to become leaders in functional NFTs and the gamification of Finance.
Yokozuna Finance NFT Marketplace will award Sumo NFTs to the highest bidders using the ZUNA token on the app.yokozuna.fi.
To learn more about how it works, read here.
What’s next?
IOST’s recent announcement and introduction of its new cross-chain capability open the possibility for Yokozuna Finance to bring popular network tokens into the IOST ecosystem and the project.
The team has spoken with several projects which have expressed interest after learning of IOST’s ability to bridge assets from IOST to the ETH network and vice-versa. Judging by the team’s promotional video, BTC, DOGE and others can be in the project’s future.
The Yokozuna Finance development team had set its sights on the metaverse from the beginning, with much of the development designed for ease of future integration. Before then, the development teams continue working on a secondary marketplace, game development, and PvP and PvC tournament concepts.
About Yokozuna Finance
Yokozuna Finance is the leading decentralized finance protocol based on the IOST blockchain. It introduces a new design concept of NFT-based DAO ownership, both managing and ultimately owning the DAO fund. Based on sumo tradition, users progress through divisions to reach the highest league ranking in the Makuuchi, ultimately aspiring to become a yokozuna.
About IOST
Backed by major financial and VC firms such as Sequoia, Matrix, and ZhenFund, IOST is a pioneering decentralized, high-throughput, gas-efficient Proof-of-Believability-powered smart contract platform built to tackle the scalability trilemma once and for all.
The concluding ranking from China’s CCID ranked IOST as the best blockchain platform under Basic Technology, better than every other smart-contracting platform evaluated by the agency.
This is a testament to the quality and ability of the IOST team to roll out a better, innovative product and reflective of their true desire to be the best in the sphere.
IOST currently has the ever-expanding 620,000 IOST holders in over 20 countries, over 400 nodes, a top staking economy, and symbiotic relationships with corporations dotted worldwide.
IOST has recently announced its plan to become EVM-compatible in 2022, opening a new era with more dapps, users, users, and possibilities for all.
If you would like to hang out with the IOST community on chat, social media, or discuss product development, we have something for everyone.
Follow them on social media:
Yokozuna Finance: Website | DApp | Telegram | Twitter
IOST: Telegram | Announcement | Twitter | Facebook | LinkedIn | Medium | Discord
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