DeFi and NFTs seems like a very interesting combination. However, the DeFi protocols can be quite complicated and several steps are required to buy crypto or use other DeFi services. This can be intimidating, especially for beginners in the crypto world. The more steps are needed, the more chance of an error (you), and you will just lose your bet. The team behind SuperFarm recognizes this problem. They have found simple and easy to use solutions for farming crypto and NFTs.
So that’s what we’re going to talk about in this blog, about SuperFarm and the SUPER token. I’m going to explain what SuperFarm is exactly and how it works. We’re also going to take a behind-the-scenes look at this project ‘s team and take a closer look at the SUPER course. I will also tell you where to buy the SUPER token.
Please note: please note that the text below about ‘SuperFarm (SUPER)’ as well as the explanation thereof should in no way be taken as advice. The choice for whether and in what way you want to trade (crypto) and which choices you make in terms of investment is up to you and you alone. We are not financial advisors.
Here you can first watch a video from the founder of SuperFarm, who shows how it works.
- 1 What is SuperFarm?
- 2 NFTs and video gaming
- 3 Who is on the SuperFarm team?
- 4 What is the SUPER Token?
- 5 What is the price of the SUPER token?
- 6 Where can you buy the SUPER token?
- 7 What is the best way to store the SUPER token?
- 8 What is SuperFarm’s roadmap?
- 9 Conclusion
What is SuperFarm?
SuperFarm is a cross-chain protocol that gives utility to any token by turning it into an NFT without requiring any code. If you’re not quite sure what an NFT is yet, read our in-depth blog on what an NFT is . You now also get the chance to farm NFTs, a fairly new phenomenon. You can compare it to what UniSwap did for liquidity pools , which is exactly what SuperFarm wants to do for NFT farming. A mix of NFT farming and crypto-to-crypto farming is offered. You can also set up your own marketplace without leaving the platform.
SuperFarm makes it easy to set up your own crypto farm, powered by the project’s own tokens. It allows you to create ERC20 token and NFTs in a simple way, by clicking a few buttons. After that, you can sell the NFTs for crypto on your marketplace. Offering all of this, without requiring any coding knowledge, is what makes SuperFarm, among other things, unique.
SuperFarm runs on the Polygon (MATIC) network. Within a short period of time, this network has become popular within NFT circles. One big advantage of Polygon is the low gas costs. Furthermore, there is also a collaboration with Immutable X, a 2nd-layer solution for NFTs that use the ZK rollup technology. By using this technology, you do not have to pay gas costs in peer-to-peer transactions.
Check out the image below, which shows a comparison with other well-known NFT marketplaces.
NFTs and video gaming
According to various predictions, it is quite possible that one billion gamers will end up in the crypto world via NFTs and video gaming. That’s quite a number, but the SuperFarm team assumes that the majority of the population doesn’t understand enough about finance in DeFi . That is why they will not invest in DeFi products that stand alone.
NFTs, on the other hand, can provide this influx. They are versatile and can be more easily incorporated into products that do attract worldwide attention. Video games are best suited for that. According to Statista , it looks like this:
- There are as many as 2.8 billion active gamers worldwide
- These gamers spend as much as $1.8 billion a year on digital assets
- The average gamer is well versed in technology and well connected with games and other gamers
- The average age is 32 years , and let it be the same average age for crypto enthusiasts
These stats look hopeful. One of the great assets of blockchain gaming is the P2E option . In traditional gaming, you pay for all assets just to get to the next level. In the end, you’re left empty-handed, because you don’t own anything. All profits belong to the game owner and all purchases remain with the game.
Play to Earn (P2E)
With P2E this all changes as now you can earn money through and while playing . Plus, any NFT you buy is owned by you. Whether that is a piece of digital land, or other in-game items, it is and remains your property, demonstrable by the properties of an NFT. In addition, you can use in-game items not only in one game, but in different games. The metaverse allows and even encourages this. Best of all, many of these in-game items can be made yourself and minted as NFT. Various blockchain games have special places for this. For example, The Sandbox has ‘ The VoxEdit ‘.
SuperFarm builds a bridge between crypto and gaming
It is now waiting for all these Fortnite and other gamers to eventually understand this, and switch to blockchain gaming. It’s already happening on a smaller scale, but once this happens on a larger scale, it’s just possible that millions or who knows, even billions of people will be exposed to crypto , which is new to the entire crypto ecosystem. That is a great boost for everything that is loose and stuck in the crypto world. In other words, video games or gaming may well be the impetus for crypto going mainstream.
Traditional gaming industry
But I can hear you asking, why hasn’t that already happened? That’s obviously a good question, and we have an answer to it. It is actually quite simple, the existing, large gaming companies are not at all eager to introduce blockchain gaming, because that would be at the expense of their revenue model . If you can create, or buy, your own in-game NFTs, and also own them, there’s not much left of the traditional gaming industry.
This is an innovation dilemma. On the one hand, we have the traditional gaming industry that is in no rush to promote blockchain gaming . On the other hand , we have startups and smaller game companies that don’t have the influence (yet) to change this . Little by little, however, this will shift, and I expect blockchain gaming to win over time. You never know for sure, and there are no guarantees, but the benefits of blockchain gaming seem obvious. It just takes time for the traditional gaming industry’s dominance to crumble.
Who is on the SuperFarm team?
The big man behind the whole SuperFarm story is Elliot Wainman . He is founder and CEO of the project. He has been a well-known influencer for years before coming up with SuperFarm. He has his own YouTube channel, Elliot Trades Crypto with 375,000 followers. He is mainly talking about NFTs and small cap altcoins here. In 2017, he started researching the possibility of combining crypto and gaming.
Not much else is known about the rest of the team behind this project. More is known about investors in this project, and 3Commas , Animoca Brands the team behind Axie Infinity , Bitcoin .com and AU21 Capital, among others, are supporting the project.
Animoca Brands is also behind the REVV token , and SuperFarm has partnered with that. A SuperFarm REVV racing car is arriving.
What is the SUPER Token?
The SUPER token plays an important role in the SuperFarm ecosystem. You can use this token for the following tasks on the platform;
- Management – you can vote for proposals to make changes to the SuperFarm network. The network will eventually pass into the hands of the community, thus becoming completely decentralized.
- Staking rewards – if you stake SUPER, you get more SUPER.
- Cost – to use various features on the platform you will need SUPER to pay with
- NFT Farming – staking SUPER allows you to receive exclusive NFTs in the platform’s premium farms
- Exclusive NFT drops – if you have SUPER in your wallet , you can get exclusive access to NFT drops from partners
During the IDO (initial DEX offering) in February 2021, $1.2 million was raised. There is a max supply of 1 billion SUPER tokens and at the moment there are 101,909,750.00 SUPER in circulation, which is 10%.
The following image shows the distribution of the SUPER token.
For example, the team only gets 10%, which is generally a good sign, as it means they can’t rush down the fast lane with a bag full of cash. You can also see that only 1% was cleared during the IDO.
In the following image you can also clearly see that not all tokens end up on the market at once, but that this happens gradually, between 6 months and 2 years.
What is the price of the SUPER token?
If you want to invest in the SUPER token, a good start is to know its price. If you are already going to trade, you also want to make a profit. You can make a technical analysis to see what the best buy or sell moment is.
The SUPER token almost immediately after the IDO, in February 2021 with a price of $1.30, already reached its preliminary ATH on March 31, 2021 with a price of $4.50. After that, the price also fell again with a rebound in May 2021 to $2.89. It has been on a downward trend since then, and at the time of writing, September 2021, the price is $0.775.
At CoinMarketCap , it is just outside the top 400 at 441. It is a new project, and they have a good plan in a popular market segment, blockchain and video gaming. I suspect that a positive development for this token is possible in the longer term. However, that is certainly no guarantee. If you want to invest in this coin, it is important to do your own research.
Where can you buy the SUPER token?
You can buy the SUPER token on Bitvavo since September 8, 2021 . Various CEXs also offer this coin, such as Binance and Gate.io. There are also several liquidity pools on DEXs such as Uniswap , 1inch Exchange and PancakeSwap where you can find a SUPER pair. The easiest way is of course to buy the SUPER token on Bitvavo, and you can do that here too.
What is the best way to store the SUPER token?
You have several options to save this token. The safest way is to store them on a hard wallet , also known as a cold wallet. With a hard wallet, such as the Ledger X or S and the Trezor, you are protected against internet hacks.
You can of course leave your SUPER token on the exchange where you bought the token. However, now you do not have access to your private keys. The private keys of an exchange remain in the hands of the exchange itself. There is always a danger that a stock exchange will be hacked and then you have a chance that you will lose your coins. These wallets on an exchange are also called hot wallets.
As a third option, you can also use an online wallet such as MetaMask or Trust wallet. Here is also another chance of an internet hack, but it is theoretically smaller than a hack on a stock exchange.
What is SuperFarm’s roadmap?
SuperFarm’s roadmap is still under construction. Only one part of their roadmap has been completed, so there is still a long way to go.
At the moment they have a functioning NFT Launchpad, an NFT marketplace, NFT farming and NFT drops. This is part of ‘Phase 1 Alpha’.
In ‘Phase 2 Beta’, social features, expansion of the marketplace and NFTs, next NFT generation (Beta), NFT indices, Video game integration and 3d NFTs will be added.
‘Phase 3 Full Release’ sees the addition of NFT voting, NFT trading, NFT generation release, NFT farm (release), NFT gamification, NFT rental, NFT loans and fiat implementation.
There are no specific dates listed with this roadmap, so you’ll need to keep an eye out and follow their announcements to stay informed.
The SuperFarm project looks promising . NFTs may lose popularity or not with the general public. However, SuperFarm has a few unique points that give them a good chance of making it and emerging in the NFT and DeFi market. They also have excellent partners and investors who believe in the project . Moreover, there is also their SUPER token which has many uses.
The fact that you can now set up an NFT farm on a DeFi platform without complicated codes is almost spectacular. SuperFarm may just be in the right place at the right time to further revolutionize the popularity of NFTs. If this project can contribute to making video gaming accessible to a wider audience, it will not hurt the price of the SUPER token either. Keep in mind that if you want to invest in the SUPER token you have to do your own research first.
Thanh Lanh Tran(1989) is Chief Editor from BitcoinUSD.com