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Helicon NFT Review – DeFi, NFTs, and Gaming, All in One Place

HeliconNFT is a blockchain-based project seeking to combine DeFi, NFTs, and gaming into one global ecosystem. In this regard, it comes with innovative features that bridge the gap between traditional, centralized games and blockchain technology.

The platform is a self-custodial (DAO) marketplace built on ETH layer-2 for NFT developers, gamers, and DeFi traders. It enables users to mint and collect NFTs, use them in games, or trade them in the Helicon marketplace.

When referring to its ecosystem, HeliconNFT proudly states, “We built the Universe so that you can light the stars”. Through it, the team envisions a future when gamers no longer play in physical isolation. Instead, they meet in an online venue, where they can freely interact, trade, and collect NFTs.

This HeliconNFT review looks closely at one of the latest and most exciting NFTs, DeFi, and gaming brands. Read on to discover its features, tokenomics, and potential!

What Is HeliconNFT?

HeliconNFT aims to build an extensive ecosystem that brings all the benefits of DeFi, NFT, and gaming into one space. And through in-game asset tokenization combines centralized gaming and the blockchain into a source of entertainment and income.

HeliconNFT comes with a series of innovative features to support this ambitious mission. For example, Agora’s HeliconNFT Marketplace lets users trade NFTs in a guaranteed high-liquidity supply.

Additionally, the project’s API enables developers to tokenize virtually any in-game item. However, this will vary from one game to another, as it ultimately depends on the developer’s goals for their respective game. Still, the HeliconNFT team envisions a day when many of its platform’s games will be a part of a single metaverse.

Unlike other play-to-earn ecosystems, HeliconNFT makes all NFTs available across all games – like cross-play for NFTs. The only requirement for any game to use another’s NFTs is for the developer to enable it through the API and define a role for those NFTs.

HeliconNFT relies on the recent advances in blockchain technology to help players monetize their in-game time. In this regard, it provides them with an ever-expanding marketplace across different games – singleplayer and multiplayer alike. They can trade NFTs, socialize, and share in an entirely free and decentralized way. Additionally, they can create their own NFTs or act as liquidity providers. 

One fascinating feature is that whenever an NFT changes hands, the original creator of the NFT will receive a reward thanks to the platform’s royalty system. That means anyone can qualify for and earn royalties just for being a part of the ecosystem.

What Is the HeliconNFT Ecosystem?

HeliconNFT’s unique ecosystem is a hybrid between the real & digital worlds. Participants will have access to the tokenization of both in-game items and tangible assets. This way, it should enhance the global marketplace beyond its blockchain nature.

Simply put, players will have the opportunity to earn an income even if they are new to blockchain technology. Similarly, liquidity providers can stake HDT (Helicon Drachma Token)+USDT to earn Liquidity Pool (LP) tokens and even re-stake that LP to achieve HDT. Now, let’s break down the HeliconNFT features and see how they work!

Agora

Agora is a core element in the HeliconNFT ecosystem. It consists of the platform’s most important components, enhancing NFT liquidity and supporting liquidity providers. They include: 

  • Master NFT
  • Regular NFT
  • HeliconNFT Marketplace
  • Yield aggregator  
  • Decentralized governance
  • Helicon AOS (Game Add-on System)

Here is a short presentation of these elements!

Master NFTs

This unique feature powers the HeliconNFT ecosystem from the bottom up. It consists of nine Master NFTs with several benefits for those holding them. For instance, each Master NFT provides 1% of all sales revenue and 5% of the liquidity mining rewards for its associated mining pool, of which there are nine.

The rewards conveyed by Master NFTs are massive, but no individual can hold a Master NFT for more than 24 hours – as they’re returned to the market for new bidders. Rewards are also paid out for nine days, preventing huge volume spikes. Finally, because Master NFTs can only be purchased with LP – requiring the individual to stake significant HDT+USDT – there will always be sufficient liquidity in the system.

Lastly, in the ecosystem, the prices of Master NFTs increase linearly. The same goes for token unlocking. Also, the prize pool goes through a process of proportional distribution once a day. Therefore, any exchange within the ecosystem will count as an activity for users. In return, HeliconNFT will charge a specific fee, which will pass a conversion process into HDT before burning a portion in the HDT black hole.

Regular NFTs

These non-fungible tokens are sub-products of Master NFTs. Users get them from minted in-game assets and only trade them using HDT. Whenever a user sells a regular NFT, the sales proceeds distribute this way:

  • 95% of the selling price is divided between the owner and the developer. While developers can add a royalty rate, their slices are generally tiny.
  • 2% go to HeliconNFT Ecosystem’s development.  
  • 2% go to the HDT black hole for burning
  • 1% goes to the Master NFT holders of the corresponding liquidity pool 

Lastly, the platform does not interfere in setting the price of an NFT. Instead, only the sellers and buyers can decide the worth of regular NFTs. Also, the NFT exchange employs smart contracts to make sure transactions occur according to specific standards.

HeliconNFT Marketplace

Users can trade NFTs in the HeliconNFT Marketplace. This feature brings together all the NFTs available in the game. Also, it acts as a liquidity gateway to the HeliconNFT ecosystem.

Yield Aggregator

This feature encompasses all the nine liquidity mining pools in the HeliconNFT Ecosystem. Calliope, Clio, Erato, Euterpe, Melpomene, Polyhymnia, Terpsichore, Thalia, and Urania. In each of them, users can mine liquidity and earn rewards in LP, then HDT if that LP is re-staked. Every pool receives HDT evenly. Participants can obtain LP tokens by providing HDT+USDT to the Uniswap liquidity pool.

Decentralized Governance 

HeliconNFT stays true to its Ancient Greece-inspired model by providing completely decentralized governance and participation – democratically and as individuals working towards something greater:

  • Proposals & Voting

Users can table proposals using HDT and inspire community development.

  • A Motivation Mechanism

Participants in the HeliconNFT Ecosystem can also contribute to the platform’s marketing plan. For instance, they can create content, post videos, or write articles about the project.

  • Tournament

As the HeliconNFT Ecosystem expands, more games and players will receive invitations. However, not everyone will enter the platform. So, worldwide tournaments with a PVP model will establish who accesses the ecosystem.

Helicon AOS (Game Add-on System)

Thanks to this feature, players can (NF)Tokenize any in-game item and trade it in the HeliconNFT Marketplace. Furthermore, this global venue for all NFT trades reduces the gap between centralized games and blockchain technology. Lastly, the feature will enable cross-game trading of NFTs between different games appearing on HeliconNFT.

Developers can also use AOS to:

  • Deploy weapon cosmetics across multiple FPS games.
  • Boost skins or collectable items evolution according to the user’s activity and the exchanges in which the NFT has participated.
  • Have NFTs in a strategy or 4x game represent real-world purchasable property or assets.

These are just a few use cases that HeliconNFT offers to empower developers. Also, these versatile tools and options should provide creators with more freedom and opportunities. In time, HeliconNFT Ecosystem could become the go-to platform for game development for industry-leading companies and freelance developers alike.

The Helicon Drachma Token (HDT)

HDT powers the HeliconNFT Ecosystem and is present in every aspect of its functionality. For instance, it acts as a medium of exchange and a type of reward. Also, it provides liquidity and has a specific economic design that enables deflation and consistent NFT value growth.

HDT Distribution

According to the HeliconNFT whitepaper, the platform will issue a total of 100 billion HDT tokens and distribute them accordingly:

  • 2% will go towards public offering.
  • 8% will go towards private offerings.
  • 9% remains within the HeliconNFT team’s reserves.
  • 81% go evenly towards the nine DeFi liquidity mining pools.

Appreciation Model

Helicon uses an appreciation mechanism to reduce HDT supply and, subsequently, increase its price in the long run. Control measures over the HDT token supply include:

  • Participants obtain Liquidity Provider (LP) tokens by injecting HDT+USDT to the Uniswap liquidity pools.
  • Users spend LP tokens during Master NFT purchases and liquidity mining. 
  • A primary function of LP tokens is to lock up HDT and, therefore, take HDT out of circulation.  
  • Master NFTs have a pre-determined, linearized growth, which intelligent contracts determine.

LP tokens that are part of Master NFT’s sales remain locked for nine days. This way, the corresponding HDT tokens temporarily stay out of circulation.

Also, the platform uses smart contracts to unlock HDT tokens linearly. As a result, the ecosystem experiences a controlled pass released into circulation.

It’s worth noting that a part of the HDT tokens from Regular NFT transactions is burnt. In the future, HeliconNFT may implement an innovative HDT burning mechanism. This feature will consist of Regular NFTs buyable with HDT, DAO voting, and the Helicon Add-on System (AOS).

Helicon Play

This label signifies the project’s ambitions to build a metaverse. So far, Helicon is working on an in-house game, Helicon Titan, to demonstrate the full breadth of their API’s capability. However, the team is also approaching other developers to publish their games on the platform. 

Titan is the proprietary game of HeliconNFT. It represents an expanding metaverse where gamers can fight against mythological gods. Also, it can improve players’ avatars through Regular NFTs in skills, items, and outfits – each of which can evolve and even break if not maintained. Lastly, they can engage in various player-vs-environment (PVE) activities to boost their gains.

Hgold token

Hgold will be the in-game currency for Helicon Titan. It will be available in an unlimited amount. However, the mining process will produce a limited amount of Hgold per day. Therefore, its total amount increases linearly with the expansion of the game ecosystem.

HeliconNFT looks to add even more games to the ecosystem in the future. In this regard, it encourages gaming companies and developers to join in on this mission and has some exciting announcements on that front. In addition, the surge in NFT use and prices should convince many to join the Helicon Ecosystem.

Final Thoughts

HeliconNFT aims to integrate real-world assets on the blockchain. Additionally, it seeks to improve NFT liquidity and bring it closer to centralized gaming. Lastly, it plans to help users increase their income with potentially profitable DeFi services, such as yield farming.

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For an up-and-coming project, HeliconNFT certainly has its work cut out for it. So often, projects crumble under the overwhelming weight of responsibility they put on their shoulders. But, on the other hand, HeliconNFT looks likely to go the other way and set a new and booming trend.

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