Owners of "reverties" will soon be able to receive a full refund for their NFTs.
Spielworks, the blockchain-based gaming startup, in alliance with the Web3 platform Mycelium Network, has unveiled an innovative program that guarantees full refunds for purchases of non-fungible tokens (NFTs).
Under this unique initiative, users can acquire NFTs, termed "reverties," with the assurance of full refunds in USD Coin (USDC).
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The program further allows these newly-introduced NFTs to be staked in Spielworks' popular game Dungeon Master and purchased using a distinct minting mechanism that accepts USDC.
It is worth noting that the collaboration with Mycelium Network allows Spielworks to gain access to USDC purchases. In the announcement, the company highlighted that a minting transaction involves moving the USDC into a decentralized finance (DeFi) lending pool located on the Aave protocol.
Spielworks' executive team indicated their plan to utilize the lending pool's interest to repurchase their own tokens to benefit their growing community. Part of these earnings are also dedicated to supporting the Wombat Protection Society of Australia.
Adrian Krion, Spielworks' co-founder and CEO, clarified that although these NFTs are not technically "backed," users have the option to sell them on the secondary market at a lower price or simply claim their full refund.
The move is facilitated by a straightforward process wherein users can visit the minting page, request a refund, and approve the transaction, after which the NFT is transferred back to the smart contract, and the refund amount is automatically retrieved from the designated fund pool.
In other news, the Google Play store has recently opened the doors for blockchain-based digital content and non-fungible token (NFT) games.
