DuckDAO Formed Strategic Partnership with ShoeFy
There’s no doubt that NFTs (non-fungible tokens) have erupted as a powerful force in the crypto space, generating enormous buzz across blockchain enthusiasts and retail investors alike.
Many are looking to capitalize on this NFT craze by opting to implement DeFi mechanisms that will help add value to these assets. Luckily, the Ducks have found a promising project that has developed a unique and fun concept to do just that.
DuckDAO is pleased to announce that they’ve formed a new strategic partnership with ShoeFy, a decentralized platform that turns NFTs into yield-generating assets through farming and staking, where users can earn passive income.
For this partnership, DuckDAO will provide ShoeFy with advisory services, marketing support, and help to grow its social media presence and community. With the support of the Duck community, they’ll help them take their concept and elevate it to the next level.
ShoeFy Overview
ShoeFy enables DeFi applicability for NFTs, opening the door for its users to earn lucrative financial opportunities via cross-chain support and low-fees through its layer 2 solution. The project is based around the concept of sNFTs, its very own ERC-721 non-fungible assets represented by digital shoes. Its advanced and sleek user interface
These shoes are unique in that they’re randomly generated on-chain amongst 10,000 possible options. Additionally, each shoe is categorized by elements such as fire, water, earth, and wind to give them more flair and rarity.
Digital shoe collectors are known as Shoebeasts, where they can boast about their assets on social media platforms and collect sNFTs of their liking. Its native token $SHOE, an ERC-20 asset, helps facilitate governance and power its overall ecosystem — shoeracks are provided by the platform and allow Shoebeasts to stake their sneakers to earn passive income in $SHOE.
ShoeFy is looking to attract and onboard sneakerheads by bringing forth a new use case for NFTs, bringing its original digital shoe concept to the world via the blockchain.
📰 INFO
https://medium.com/@ShoeFy/duckdao-x-shoefy-enter-into-new-strategic-partnership-c28ade0e8268
