Alex Hui, CEO of PolkaFantasy — the best Japanese nonfungible token cross-chain marketplace and multiverse game, built for NFT lovers by NFT enthusiasts — told Cointelegraph China at the Hub interview on Sept. 7 that the project is launching its IDO on Sept. 10 on Uniswap. Only a week ago, the project closed a sale of more than $4.3 million in a pre-initial DEX offering NFT auction sale. 

The sale marks the biggest pre-IDO NFT auction in history. The huge success was a result of massive support from NFT users and the market share that gaming and decentralized finance (GameFi) can gain, said Hui. 

Hui told Cointelegraph China that in his past working experience in some of the world-famous gaming companies in Japan and being a passionate gamer himself, he was inspired by Japanese animation, comics and games culture tremendously to initiate PolkaFantasy. The goal is to provide a marketplace to discover, create, trade and interact with any digital collectibles and truly gamified DeFi. He added that:

“PolkaFantasy is all about the best user experience. It is also a full-fledged game with unbelievable GameFi and play-to-earn elements. Our vision is to create a complete ecological environment, that is, we want to make games and a market at the same time. Things in our games can be easily bought and sold in our market and other NFTs can also be bought and sold in this market.” 

Experts in the team combine gaming and economic expertise 

As the former chief operating officer of Square Enix’s United States corporation, Daishiro Okada, strategic advisor of PolkaFantasy, plays a key role in helping the platform in both gaming design and market strategy, according to Hui. 

Okada not only released Japan’s world-class blockbuster game series such as “Final Fantasy” and “Dragon Quest,” but also engaged in international taxation as director and head of taxes at Deutsche Bank groups.

Masayuki Matsuoka also joined the project recently as a strategic advisor. He succeeded in expert-level video gaming and won first place three separate times in a Yu-Gi-Oh! Trading Card Game PC tournament. Hui emphasized that: 

“Mr. Matsuoka acting as one of our game advisors is an immense win for the PolkaFantasy family. He will help the PolkaFantasy team connect to the professional gamers world to maximize our reach to the non-crypto community.”

With a deep understanding of various games, Matsuoka will also provide valuable opinions on PolkaFantasy’s next-generation blockchain game. In PolkaFantasy, playability is a core pillar to bring non-crypto people into its ecosystem for long-term growth. With the collaborative effort with Matsuoka, the team strongly believes that it can bring this vision closer to the community in near future, said Hui.

Native token plays an important role in the ecosystem

The native digital cryptographically-secure fungible token of PolkaFantasy (XP) is a transferable representation of attributed governance and utility functions specified in the protocol or code of PolkaFantasy. It is also designed to be used solely as an interoperable utility token on the platform. 

Tokens will become available for sale through the IDO public sale on the launchpad and later through public sale on a fixed Uniswap liquidity pool. XP tokens will be issued and distributed based on the ERC-20 token standard at the beginning. XP is a functional utility token that will be used as the medium of exchange between participants on PolkaFantasy in a decentralized manner.

XP also provides economic incentives which will be distributed to encourage users to contribute and participate in the ecosystem on PolkaFantasy, thereby creating a mutually beneficial system where every participant is fairly compensated for their efforts. 

XP is an integral and indispensable part of PolkaFantasy because without XP, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on PolkaFantasy. Hui explained that: 

“Users buy some special NFT to use XP or they can use XP as an experience value. For example, if you have a favorite artist, you can help him improve his level and show him more so that many people can see him. You can also reward artists with XP, so I think XP is a very important part of our ecosystem.”

According to Hui, there will be more upcoming exciting announcements, such as another PolkaFantasy NFT sale in October for its limited-edition land, as well as more games to be designed and added to the platform.