Imagine company executives, pen and paper in hand, or laptop at the ready. Envision them planning out their next business model. Thinking about the product, service, and at their very core, the sustainability of the business. Well, it’s what we had to do here at Synesis One. We envisioned a model that would be sustainable only through the process of generating wealth for everyone involved in our ecosystem (for real, we wrote it into our Technical Litepaper: Section 2.4).
If you’re here, reading this article, you’re one of the few who are participating at the edge of the world’s greatest technological advancements — and we are so glad you are here to join us on this journey!
The entire business model of Synesis One is Play to Earn. We take this approach quite seriously and have infused the opportunity to earn across many facets of our ecosystem, not just in trading tokens, but in several unique and technologically advantageous ways. While many who come to our ecosystem might be excited about this play-to-earn idea and conclude there’s a single game, with a single way to earn, we wanted to nip that confusion in the bud and peel back the veil to further reveal what it really means to have a play to earn ecosystem for Synesis One.
Let’s jump right in and explore all the ways to earn in the Synesis One Ecosystem.
Data Yield Farming
Perhaps the most famous method to earn income in our collective ecosystem is through Data Yield Farming. This is the process of either staking one of our KanonNFTs or via staking $SNS to access our platform that will enable you to contribute your knowledge, an ontology, in a gamified way. You are rewarded in our reward token, $SNS just by contributing your knowledge to help AI learn. The knowledge you submit can be accessed by other companies that want your knowledge too! What kind of knowledge does AI want? The needs are endless.
We’ve not spent a lot of time discussing the gaming side of our NFT collection. But in addition to the data yield farming games, we will offer the opportunity to play games with our NFTs to earn. We can’t release the details yet, but stay tuned for more exciting news soon to come!
DeFi Through Asset Transmutation
With the rise of popular NFT-based play to earn games, also came the rise of the cost of entry into these worlds — excluding some players from having access to even entertain the idea of playing to earn. The solution to the expected increase in rising costs? Fractionalized NFTs. Let’s focus on Asset Transmutation.
How can you earn through Asset Transmutation? Imagine that you’ve collected ten of your favorite Kanon NFTs, and their value has risen dramatically. You can use Atomic Split to fractionalize your Kanon, then you can choose to stake one or all ten of your Kanons with Asset Transmutation. How? You’ll stake your Kanon(s) in the NFT-to-DEFI box, and you’ll be charged a small fee (see Section 6.4) to swap your new fractionalized Kanon (i.e. child-Kanon) into USDC. You can then swap your USDC into a smart farming protocol with high APY to reap returns!
Periodic Claimable Earnings for Kanon NFT holders
You’ve heard us talk about #sleeptoearn and well, we’re serious. Because we have created an ecosystem that integrates a world of consumers seeking AI solutions, they’ll pay for your ontologies. The entire scope of these ontologies have been broken down into words, and every Kanon NFT is a small part in this world of ontologies… A world we call the Synesis Metaverse.
But how do you earn? Collect KanonNFTs. Just by holding our NFT, you’ll earn claimable rewards because our customers, from a variety of industries, will use the very words that you’ll have collected. In return, you’ll be rewarded.
When can you start minting your KanonNFT? Did we say coming soon? 😏