Nakamoto Games Unveils Stake 2 Mint Concept
Nakamoto Games plans to introduce its own concept called Stake 2 Mint in the coming months, where holders stake $NAKA tokens in order to mint and use a particular asset which ends up getting burned upon unstaking the tokens.
Nakamoto Games, a play-to-earn platform of various different arcade-style games, has unveiled its own new concept that they call: Stake 2 Mint.
The Stake to Mint concept is described as an “innovative strategy” where holders of $NAKA, the ecosystem’s core token, have to stake their tokens in order to be able to mint an asset. These tokens need to remain staked in order to continue using the asset, because if the tokens end up being unstaked, the minted asset will be burned, thus lowering the supply of the particular asset. What this asset can be can vary; it can be an in-game item, a platform NFT, or a virtual land.
By utilizing this concept which adds further utility to the token, the developers think that there is “potential for asset appreciation through strategic scarcity.”
According to the announcement, the idea will be put to the test in the months that follow by applying it to a couple of in-game assets. It’ll be interesting to see how well this new idea pans out.
The Stake to Mint concept is not the only thing set to be rolled out in the coming months. At some point during this quarter, the developers also plan on launching the NAKA Mobile App, which is set to include 35 games to enjoy on release.
Last weekend, the team held the Brawler Master Tournament for NAKAPUNK holders, with the winner receiving an Arcade Emporium NFT, which is a digital asset that gives you ownership over a blockchain title that is part of the ecosystem, earning a share of the income that the game gets.