Asgard launches DAO to bring Metaverse, DeFi & NFTs under one roof

Synopsis

Asgard is focusing on providing a holistic platform to the users where they can have access to all the elements of metaverse at once with ease.

Kiran Dommeti, CEO and Founder, Asgard DAO said that 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.New Delhi: Asgard, a decentralized currency reserve protocol, has announced the launch of Decentralized autonomous organization (DAO) that will attempt to bring metaverse, DeFi and NFTs under one roof.

A decentralized autonomous organization or DAO is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government.

Asgard is focusing on providing a holistic platform to the users where they can have access to all the elements of metaverse at once with ease.
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Metaverse, meanwhile, is a digital avatar-based universe. It is a virtual reality world where users can interact, play games and experience things or activities as they would in the real world.

The metaverse of Asgard is built on the concept of Norse Mythology, which brings the old characters to life. The users will have to submit their ideas of characters that should be added next and a storyline representing Nordic mythology.

“The community members who hold the token of the metaverse will then vote and approve the character. The artists will create a design for the character with different color themes and innovation,” the company said.

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, Asgard DAO said that 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,” he added. Dommeti is the first person of Indian origin to launch a DAO.

The second version of the platform has new and improved features, updates and upgraded security protocols focused on providing a robust platform to users to access all the elements in the metaverse.

The tokenomics of Version 2 is based on sell, buy and unstake tax, where the default sell tax will be 10 per cent whereas the buy and unstake tax will be 2 per cent each.

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.

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Updated: 02/21/2022 — 03:00