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HomeThe Virtual CrunchTrendsAsgard launches DAO bringing Metaverse, DeFi and NFTs under one roof. Here’s...

Asgard launches DAO bringing Metaverse, DeFi and NFTs under one roof. Here’s what users should know

In an attempt to bring the Metaverse, DeFi and NFTs under one roof, decentralized currency reserve protocol Asgard today (February 21, 2022) announced the launch of a DAO (decentralized autonomous organization), which focuses on providing a holistic platform to users.

The Metaverse, built on the concept of Norse mythology, brings the old characters to life, where users can submit their ideas of which character should be added next and a storyline representing the Nordic mythology. The community members who hold the token of the Metaverse will then vote and approve the character, Asgard said in a statement.

The artists will create a design for the character with different colour themes and innovation. The community will again vote for the best character, which will be added to the storyline in six months, it added.

Kiran Dommeti, CEO and Founder said the metaverse is going to lead the next wave of crypto and DeFi adoption in the world as gamification elements and play to earn concepts are thriving in the blockchain space.

“Asgard Dao will be the first Metaverse solution providing all functionalities which will help us in capturing the rapidly growing space of the Metaverse,” Dommeti said.

He added that the metaverse has taken center stage in the crypto industry in 2022 and is shaping the industry in a new direction. However, most Metaverse projects are currently just implementing a non-immersive ecosystem, or if they are providing an immersive experience, they are not providing a one-stop solution,” Dommeti said.

Version 2 of the platform that has new and improved features, updates and upgraded security protocols focuses on providing a holistic platform to the users where they have access to all the elements in the metaverse under one roof.

Asgard DAO Tokenomics

The tokenomics of Version 2 is based on sell, buy and unstake tax, where the default sell tax will be 10 percent, buy and unstake tax will be 2 percent each, Asgard said in the statement.

Every user whose concept gets approved and every creator whose designs get approved will receive a special reward in the form of a loot box in the game. A unique, rare loot box that will contain many exclusive rewards. The voters will get loot boxes regularly as a token of appreciation for their contribution to the ecosystem, he added.

Asgard is a DAO building ecosystem on Binance smart chain focused on NFTs and Metaverse.

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