Following numerous requests from our clientele and the undeniable growth of Web3, YouHodler has officially added the top metaverse tokens and NFT-based game tokens to the platform. For all clients on YouHodler, Decentraland (MANA), The SandBox (SAND), Axie Infinity (AXS), Illuvium (ILV), Gala (GALA) are available immediately.
At the moment, these tokens are only available for use on YouHodler’s savings account feature. Interest rates are listed at 3% APR plus compounding interest rates. For a limited time, YouHodler will feature promotion interest rates of 25% - 30% APR for these new tokens. The promotion will last one month from the launch of these tokens. After that, the interest rates will decrease to 3%. Later, we will also consider adding these tokens to our other popular features such as crypto-backed loans, Multi HODL, crypto exchange, and Turbocharge.
All tokens are of the Ethereum-based, ERC-20 variety except for Gala (GALA) which has ERC-20, ERC-721, and ERC-1155 options.
There is no clear-cut definition for what the metaverse is but if you want to try and define its history, then one must go back to 1992. Then, Neal Stephenson’s “Snow Crash” novel was the first known mention of the metaverse, virtual real estate in particular. In the most basic form, the metaverse is a virtual reality in which participants interact using avatars.
In the metaverse, people can go shopping, socialize with other avatars and even eat at their favorite restaurants like Starbucks. Popular metaverse platforms such as Decentraland or the Sandbox allow users to spend digital currencies inside the metaverse to obtain virtual goods and assets. This is the use case behind the native currencies such as MANA and SAND
Facebook brought a lot of attention to the metaverse this past year as the company announced a rebranding from the social media platform Facebook to Meta, a new metaverse platform. Where the metaverse goes from here is still largely unknown but we do know some of the largest companies in the world are investing heavily in it (such as Apple).
While there are several valid societal and philosophical debates that come with the popularity of the metaverse, the industry is ripe for growth and YouHodler wants to give our clients the opportunity to participate in this exciting new asset class.
Non-fungible tokens (NFTS) are blockchain-based collectibles known for their unique and easily tradable characteristics. Recently, the concept of combining NFTs with the online gaming industry has resulted in a new concept called play-to-earn NFT games. These games are built with a blockchain network with the in-game assets represented by NFTs.
Axie Infinity (AXIE) is one of the most popular play-to-earn NFTs games in the world, allowing players to earn a passive income from simply playing a game. Since it’s a blockchain-based game, all purchases made on the game are permanently stored on the distributed ledger and are available for anyone to see. When an in-game NFT is bought, the ownership rights of that NFT are saved in the blockchain making its status verifiable and legitimate.
Now that YouHodler features some of the top metaverse tokens, clients can do more than simply HODL their favorite assets. With our high-yield savings accounts, clients can put their crypto to work, benefiting from a growing crypto market and YouHodler’s interest rates simultaneously. We never lock your funds at YouHodler and interest payments occur every seven days.
So open your YouHodler app today, make a deposit and start earning!