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C.R.E.A.M. Finance Builds Bridge Between NFTs And DeFi With Chainlink Oracles

NFT and blockchain games like Axie Infinity are democratizing finance by fostering player-owned economies where anyone in the world can earn fair and reliable income for their contributions to the game’s ecosystem. The opportunity to build a more equitable metaverse has been life-changing for players in places like the Philippines, especially during the Covid-19 pandemic when more traditional jobs were scarce.

Until now, however, players couldn’t fully utilize their in-game assets in the broader DeFi ecosystem. Without greater composability of NFT tokens, players aren’t able to leverage the full value of their digital assets to unlock greater capital efficiency. 

Recently, C.R.E.A.M. Finance integrated Chainlink’s decentralized oracles to become the first borrowing/lending DeFi protocol that supports the native tokens of Axie Infinity and Yield Guild Games. With additional support for The Sandbox and Decentraland, C.R.E.A.M. now enables greater utility for the largest number of NFT and metaverse governance tokens on a single DeFi lending platform. 

As such, C.R.E.A.M. will play a critical role in onboarding new DeFi users from the NFT space. In an official announcement, Axie Infinity co-founder Jeffrey Jiho Zirlin said he’s excited to see the empowering products Chainlink’s AXS price oracle and C.R.E.A.M. Finance will enable for Axie’s players, half of whom have no previous exposure to crypto and 25% of whom don’t have a personal bank account. 

“Axie Infinity and other NFT projects are bringing in broader adoption of DeFi by both bringing additional users into blockchain as well as distributing tokens into the hands of existing DeFi users,” said Leo Cheng, Co-Founder and Project Lead at C.R.E.A.M. Finance, in an interview with Chainlink Today. “This has already expanded the user base of DeFi and we anticipate that it will only further accelerate crypto adoption.”

Integrating Chainlink oracles is an important step in what C.R.E.A.M. called the first phase of its larger strategy to build bridges between DeFi, NFT and metaverse ecosystems. Cheng said that, as the lending arm of the Yearn Finance ecosystem, C.R.E.A.M. stays on the cutting edge of DeFi by building for the needs of DeFi users across all chains where C.R.E.A.M. markets are deployed.

“Along with Chainlink oracles, C.R.E.A.M. is able to safely create lending markets with accurate, up-to-date price feeds that DeFi users need,” he said. “NFT token hodlers in the play-to-earn or GameFi ecosystems now have a friendly lending protocol in C.R.E.A.M. to have more utility for the tokens they care about.”

To learn more about C.R.E.A.M. Finance, visit their website, Twitter, Medium, GitHub, Telegram and Discord.

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