IQ Protocol Welcomes ChainMyth
Renting and Lending NFTs to help shape the next generation of gaming
We at IQ Labs are excited to announce that ChainMyth will be deploying on IQ Protocol. ChainMyth is a blockchain-based game on Solana, whose in-game characters (and gear) are tokenized as NFTs. With IQ Protocol as their fundamental infrastructure for renting and lending NFTs, ChainMyth will help shape the world of online gaming for the next generation. Let’s learn how.
What is ChainMyth?
ChainMyth is a multiplayer (5v5) online battle arena first-person shooter game. As the creators describe it, the game is inspired by Valorant, and shares gameplay elements with Count-Strike: Global Offensive and DOTA. The look and feel of the game references Ancient Indian mythology, with gods and goddesses challenging one another. Being a play-to-earn game, winning battles will earn players $MYTH (the game’s native, fungible token).
In ChainMyth, the in-game characters (as well as the skins, weapons, taunts, and other items) are tokenized as NFTs. As your character gains experience, new skills, rare items, or is buffed out in other ways (such as games played, tournaments won, rank, etc.) — these details are stored within the NFT itself. Your NFTs, in other words, become an extension and record of your experience within the game. Moreover, these NFTs are a player’s gateway into ChainMyth’s limited hero pool. For example, in order to unlock the Monkey King — or any of the other custom mythical characters — one must own an NFT to summon it.
IQ Protocol + ChainMyth
Particularly exciting is the way ChainMyth utilizes IQ Protocol to power its system of NFT lending and renting. IQ Protocol will provide ChainMyth with fundamental infrastructure to allow for collateral-less lending and renting of in-game NFTs. This is exciting for a number of reasons. For one, new players need not purchase a character, along with an entire set of equipment and accessories. Rather, they will be able to stake $MYTH, to rent all the necessities and play for a period of time. For another thing, lenders will gain interest on the NFTs that they rent out to other players. But note: while many new players will opt to rent characters at first, renters will not be limited to newcomers. If, for instance, a player has developed a character with high level stats, rare weapons, and special skills, then even regular players of the game will want to rent the character in order to experience the game at a whole new level!
IQ Protocol is proud to provide ChainMyth with the foundation necessary for their innovative work in online gaming. We look forward to their successful growth!
About ChainMyth
Chain Myth is a 5v5 first-person hero shooter game with MOBA mechanics and a play-to-earn model. The game’s theme is inspired by Indian culture, with the superpowers of their Gods and Goddesses’ as the main design points behind ChainMyth’s characters.
Characters are tokenized as NFTs and introduced to unlock all the 14 gods and goddesses in-game. Stake your digital asset, unlock the heroes and weapons, and enter the battle arena. Fees for ranked games and hosted tournaments will be distributed to NFT owners.
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About IQ Protocol
IQ Protocol is a decentralized money market for digital asset renting and on-chain subscriptions. The next money lego that allows users to rent wrapped expirable versions of digital assets without collateral for their utility, while allowing holders to earn by providing liquidity without risk.
