BENGALURU: Decentralised currency reserve protocol Asgard on Monday launched a decentralised autonomous organisation (DAO). This will bring metaverse, DeFi (decentralised finance) and non-fungible tokens (NFTs) under one roof.
Kiran Dommeti, CEO and Founder, Asgard, said, “It is an undeniable fact that 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, he added. The metaverse, built on the concept of Norse mythology, brings the old characters to life.
The users on the platform need to submit their ideas of which character 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. 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, Asgard said.