Spielworks And Mycelium Network Launch Full Fund Return Program For NFT Purchase

Spielworks, has partnered with the Mycelium Network Web3 platform to launch the program (photo: twitter @BGameAlliance)

JAKARTA - The blockchain game startup, Spielworks, has partnered with the Mycelium Network Web3 platform to launch a program that allows full refunds for purchasing non-fungible tokens (NFTs).

In an announcement sent to Cointelegraph, the Spielworks team explained that in this program, users who obtain an NFT called "Reverties" are entitled to full refunds in USD Coin (USDC).

The project also allows users to place bets using this new NFT series in a Spielworks game called the Dungeon Master and buy it using USDC through separate printing mechanisms.

Through this partnership, Spielworks will use Mycelium Network to support USDC purchases. In printing transactions, USDC will be transferred to a decentralized financial loan pool (DeFi) in the Aave protocol.

The team said that interest from borrowing pools would be used to buy back Spielworks tokens, in a bid to help their communities. Part of the revenue will also be allocated to help the Wombat Protection Society of Australia.

According to Adrian Krion, co-founder and CEO of Spielworks, NFT will also have useful roles in their game called Dungeon Worlds. They will provide mining and material power that players can get.

When asked if the NFT would be fully secured with USDC, Krion told Cointelegraph that "They are not fully'secured' just like that." Krions explained that "people can sell them technically in the secondary market at lower prices of course, but they can get their whole money back."

Krion also explains that people can go straight to the printing page and click on the refund button to restore their NFT. After that, transaction signatures will appear to confirm NFT transfers to smart contracts and will automatically take the amount of returns from their funds.