AFKDAO
AFK / BUSD

The sale is finished

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1 BUSD = 20 AFK
1 AFK = 0.05 BUSD
Fixed Price
Sale 20 May, 14:0022 May, 20:00 UTC
FCFS 22 May, 19:00 UTC
Base allocation: $601.02
About Project

AFKDAO is a DeFi infrastructure for utility NFTs featuring the decentralised NFT asset management protocol and non-collateral lending pool solution for game NFT assets powered by the delegation functionality of its proprietary ERC-4610 protocol

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1. PROJECT OVERVIEW: WHAT IS AFKDAO?

AFKDAO is a DeFi infrastructure for utility NFTs. We believe that the value of utility NFTs comes from the high utilisation rate of such NFTs including membership pass, game NFTs etc. To maximise the NFT utilisation rate, we need to make NFTs rentable and accessible to NFT-specific defi services to make them a real asset class rather than being tied up to sole centralised utilities within a game.

For Gaming Project:

  • Current IDO launchpads are not relevant to in-game economies, and NFT sale platforms are not vertical to the play-to-earn audience
  • Lack of methods to put gaming asset NFTs into production would result into high level of speculation and surge in the price, which would result in difficulties for later players to join the game
  • Connecting with guilds and showcasing the in-game statistics to them is time consuming

For Guilds:

  • There is no good solutions to hedge the NFT treasury risk. Guilds might suffer from a great loss in net value if their game asset NFTs holding floor price dips.
  • Getting early access to a game asset can be very competitive
  • Guilds are now assuming the role of ‘fund manager in GameFi’ while they do not have good ways to showcase to potential investors other than off ramp approaches.

The same challenges are also faced by potential investors, mostly from DeFi space who are actively seeking the latest product with considerable long-term returns. Playing games may not be a good option for such audience. What they need is a gateway that helps financializing their NFT assets.

We developed the ERC-4610 protocol, an open-sourced ERC-721 extension. Compatible NFTs will have native rentability without relying on a certain platform. This would reduce the worry of projects on getting shut down by platforms and having the business process disrupted later on. For projects to adopt ERC-4610, we provide lightweight SDKs for both native ERC-4610 development and wrapped NFT situation without any interference of the existing in-game process.

IGO Launchpad

AFK IGO Launchpad is a launchpad for game asset NFTs from some finest and most promising gaming projects. Our hand-picked game assets are compatible with the NFT delegator protocol and ready for Game Aggregator since day 1. The access to these assets is determined by AFK Point systems, which helps AFKDAO screen and retain loyal community members who are really dedicated to building the play-to-earn economy with us.

AFK Aggregator

AFK Game Aggregator allows NFT owners to put their game assets into use with a user experience close to DeFi yield aggregator with automated play-to-earn strategies. Through our proprietary NFT delegator protocol, guilds and pro-gamers are able to raise NFT game assets, share profits, and charge fees without the need for custodianship.

Non-collateral NFT Rental Pool Protocol

FKDAO plans to build an algorithmic, autonomous interest rate lending protocol similar to Compound Finance but for mainstream game assets and can go without the need for over-collateralisation. NFT owners will be able to stake their assets at any time into the pool and instantly receive dynamic interest while get access to indefinite players who are renting at a dynamic interest rate at the same time. With the delegator, owners would only be lending the access to utilizing the NFTs but not the ownership itself. The amount and frequency of interest accrued is subject to the demand for loans, the minimum ROI, and algorithm for accrued interest. Due to the nature of games, billing cycle rules may be applied to withdrawals like T+1 or more.

In order to rent an NFT, renters will have to inject an optional amount of reward tokens as per pool (eg. $SLP for Axie pool, $GEAR for PlaceWar) as the collateral. The delegator smart contract will automatically distribute revenue back to the lending pool for redistribution purposes. The collateral will be used to compensate lenders any discrepancy between the total revenue generated within a billing cycle and the minimum return allowed. The minimum return will be determined by DAO governance at the very early stage but will later be regulated by the NFT oracle.

2.A. GO-TO MARKET STRATEGY

The AFK Aggregator is now live. There are three folds of go-to-market strategies:

  • Game sourcing: through our investors and partners who have game incubation capabilities like Froyo Games, 123 Games, Multitude Technologies, we source the games for IGO, and AFK Aggregator scholarship offerings.
  • Free to implement and free to use: The SDK is free to use, and open-sourced for any projects who wish to have NFT rental functionalities. In AFK Aggregator, NFT owners are free to use and a fee would only be charged from the profits made by whitelisted fundraisers.
  • Empowerment: Via our product modules, AFKDAO can empower small-to-medium guilds and individual guild managers to become their own bosses via Jedi program. By onboarding them through competency tests, AFKDAO is now able to mobilise over 150 small guilds for games launching with it. The Jedi program is ongoing so we are able to secure more guilds and players. The traffic alongside with the free tech solution will be the key attractor of games. With more games, guilds will literally be able to test before investing or ‘play to earn for free’ and easily hop around different games with very low costs
2.B. PRODUCT VIABILITY
  • NFTFi: A marketplace for NFT mortgages
  • reNFT: a leasing platform which NFT assets holders can lease out their assets and receive rental revenue over the lease period of the assets
  • IQ Protocol: a DeFi tool that provides the framework that enables controlled rentals of assets in the form of time-limited wrapping

Our competitive edge is summarised as in the form below:

  • Service Scope: AFKDAO has broader use cases supporting both asset management and lending protocol
  • Independence: AFKDAO’s solution is revolving around ERC-4610 which is an open-sourced ERC-721 extension. Compatible NFTs will have native rentability without relying on a certain platform. This would reduce the worry of projects on getting shut down by platforms and having the business process disrupted later on.
  • Time specification: AFKDAO provides options of both rental methods with and without upfront time specification requirement. Such a design can enable long-term rental liquidity
  • Pooled lending: AFKDAO allows lending pool rather than P2P lending. So much higher efficiency is available
  • No collateral: no collateral is needed for renting in AFKDAO
  • Subdelegation: Subdelegation is available in AFK Aggregator which makes the service guild-friendly
3. TOKENOMICS
  • Stake $AFK to get AFK point to get allocation in AFK IGOs
  • Lock up $AFK for $veAFK for 50% transaction fee rewards
  • veAFK can vote to decide guage of $AFK rewards in AFK Rental Pool on a weekly basis
4. PRODUCT ROADMAP

2022 Q1:

  • IGO Launchpad
  • First IGO
  • Token private sale
  • Community growth to 100k (twitter/telegram)
  • CEX listing

2022 Q2

  • 10 game implementations done
  • NFT Lending Pool launch
  • veAFK token governance model publishing
  • Guild alliance onboarding
  • Mint 50k badges minted
  • Higher level badge sale
  • Flow Deployment
  • DAO Governance
  • 2022 Q3

    • AFK scholarship program accelerator
    • ERC-4610 Academy – coder education
    • Hackathon with VCs
    • Immutable X Deployment
    • NFT DEX & NFT Oracle (based on UMA dispute resolution rather than floor price feed)

    2022 Q4:

    • 30 game implementations done
    • Regional operation cover all Philippines, Vietnam, China, Korea, LATAM, CIS
    • Guild Dashboard integration with existing guild management tool (universal ABI)
    • Full DAO governance
    • GameFi Investment Fund with leading capitals and studios


    5. REVENUE STREAM
    • IGO revenue commission
    • AFK Aggregator commission from the Fundraiser side (5% out of whatever management fee charged)
    • Rental pool transaction fee
    6. TECHNOLOGIES

    ERC-4610 protocol

    7. TOKEN UTILITY


    8. DETAILED TOKEN METRICS
    Seed Round
    Fundraised:$615,000
    Price:$0.018
    Lock-up:6 months cliff, monthly release for 2 years.


    Private Round
    Fundraised:$3,000,000
    Price:$0.036
    Lock-up:4 months cliff, monthly release for 2 years.


    Public Sale & Seed SHO
    Fundraised:$500,000
    Platfrom Raise:$100,000
    Price:$0.05
    Lock-up:25% released at TGE, linear release for 6 months.
    9. PARTNERS

    Launch on
    Gamestarter

    Full support in project incubation.
    apply

    Ended IGOs

    *ATH: All Time High / traded on CEX or DEX
    REVOLAND
    xTBA
    REVOLAND
    *Ath:
    $TBA
    WALKN
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    WALKN
    *Ath:
    $TBA
    AFKDAO
    xTBA
    AFKDAO
    *Ath:
    $TBA
    CREO ENGINE
    xTBA
    CREO ENGINE
    *Ath:
    $TBA
    CREO ENGINE
    xTBA
    CREO ENGINE
    *Ath:
    $TBA
    NOMAD EXILES
    xTBA
    NOMAD EXILES
    *Ath:
    $TBA
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