🧬Synthetic Liquidity

Synthetic vNFTs: Bridging Virtual and Real Worlds

Within our ecosystem, our Synthetic NFTs (vNFTs) serve as the pivotal element in transforming virtual game assets into tradable, valuable entities on the blockchain. vNFTs are unique digital counterparts to in-game items, designed to mirror their properties and value in the digital realm, thereby enabling their secure and verifiable exchange as NFTs.

Creation and Tokenization

The creation of an vNFT begins when a user decides to tokenize an in-game item. This process involves the item being sent to a secure digital lockup, where it is evaluated and its properties are translated into a corresponding vNFT. This vNFT then becomes the tradeable representation of the item within our ecosystem. To ensure authenticity and scarcity, creating an vNFT requires the burning of tokens, which also serves to gate the process, maintaining a high standard of quality and value for all assets in our marketplace.

Trading and Transference of vNFTs

Trading vNFTs on our platform is designed to be both secure and user-friendly, facilitated by AI-driven insights for optimal pricing and market analysis. When a vNFT is purchased, the underlying tokens used in the transaction are partially burned, contributing to the overall value and scarcity of the ecosystem's currency. Upon completion of a trade, the original in-game item is transferred from the seller's digital lockup to the buyer's in-game account, and the corresponding vNFT is burned, ensuring that the digital and physical representations of the item remain singular and unique.

Real-World Application and Impact

The vNFT system introduces a new approach to asset ownership and trading in the gaming industry. For example, a rare weapon in Team Fortress can be tokenized into a vNFT, allowing the owner to trade it. Once sold, the item is transferred to the buyer's game account, and the vNFT is removed from circulation. This not only provides a new revenue stream for gamers but also opens up unique opportunities for collectors and investors within the gaming community, enhancing the overall value and liquidity of digital assets.