What is Jelly eSports? – Asia Crypto Today

The world of eSports is constantly growing and evolving, and the introduction of non-fungible token (NFT) technology has added a new dimension to the industry. The Jelly eSports NFT project aims to bridge the gap between Solana NFT technology and the global eSports industry by creating its own eSports team and sponsoring some of the best talent around the globe to compete in gaming tournaments, repping the Jelly brand.

Background

The Jelly eSports project has a growing ecosystem that includes games, raffles, auctions, and community events. The project also has a range of use cases for its Jelly token, which is earned by staking Rascals in the Stake House. The team behind Jelly eSports is committed to delivering on its promises and producing some of the cleanest and smoothest functionality in the space.

What is Jelly eSports?

Jelly eSports is a project that aims to bring the world of Solana NFT technology and the global eSports industry together. The project has created its own eSports team and sponsors some of the best talent around the world to compete in gaming tournaments, repping the Jelly brand.

The Jelly eSports ecosystem includes games, raffles, auctions, and community events, as well as a range of use cases for the Jelly token. The team behind Jelly eSports is committed to delivering on its promises and producing some of the cleanest and smoothest functionality in the space.

The JellyLabs initiative was created to assemble some of the most creative minds in the space to form a team with the primary focus on sprouting fresh new ideas for utilities, keeping up with trends and creating new ways to generate revenue for the project and sustain demand for the Jelly token. The JellyLabs team has already been working on a number of ideas and will be working with the development team to bring these ideas to life and provide value to Rascal holders.

The mission for the JellyLabs initiative is to never stop innovating, to bring value to the community and to become one of the most popular blue chips on Solana. The Jelly community is a great place for pro gamers and casual gamers alike. With games like JellyDrop and poker, there’s something for everyone. Whether you’re a pro gamer or just enjoy playing Warzone with a great community, the Jelly community is the perfect place for you.

The Origins of Jelly eSports NFT collection

The Jelly eSports NFT collection, also known as Jellybabies, was created by JellyPapa with the intention of building a community-based project that would focus on education and fund management through a decentralized autonomous organization (DAO). The original collection was set to consist of 5,555 Jellybabies, with a low-cost minting cost of 0.10 SOL. However, due to lack of understanding in business strategy and marketing, the project struggled to sell out and was later reduced to 3,333.

JellyPapa later announced that they could no longer afford to continue funding the project and apologized for failing to deliver on their vision. It was later revealed that JellyPapa, also known as SolanaCitizen, had been slowly draining the project’s funds into their own pockets.

The Resurgence of Jellybabies Under New Leadership

Carlos stepped in to take over the project and quickly assembled a team of all-stars from various blue-chip projects. He began injecting his own capital into the project to steer it in a new direction, with a focus on eSports. Within days, a new website was built with a staking platform for the Jelly token and the Jellotto raffle was launched. To date, the Jellotto has given away an impressive collection of blue-chip NFTs from collections such as DeGods, Stoned Ape Club, and the Catalina Whale Mixer.

The Jelly eSports NFT collection continued to evolve with the introduction of Gamerooms, a deflationary collection of sleek 3D-rendered gaming rooms that served as a bridge between the original Jellybabies and the Rascals. The Rascals are a collection of 6,666 cheeky, degenerate characters causing mayhem all over the Solana NFT network, each with over 200 unique traits. The Rascals were the first true PFP-inspired collection from the Jelly eSports brand, with the main purpose of upgrading the original Jellybabies art and bringing a whole new wave of utilities in the online gaming space.

Each Rascal can be staked to earn 5 $JELLY per day, or can be placed into a Gameroom for a staking multiplier. The first group of Rascals were minted through a process called Overdrive, where an original Jellybaby was placed along with two Gamerooms into the staking platform and the “Overdrive” button was pressed to bring the Jelly Rascals through the portal. The second group of Rascals will be minted through a process called AlterEgo, where current Rascal holders will be able to pay a toll in $JELLY and bring another character through the portal, expanding the community.

However, an unknown error with the portal bridge during the Overdrive process has caused a rip between worlds, pulling in a variety of famous gaming and film characters. Until the AlterEgo process can be completed, the second group of Rascals (ranked 3333-6666) cannot be staked on the staking platform.

The Jelly Stake House is where users can deposit a range of Jelly eSports NFTs into the platform to start earning Jelly tokens. Users can claim their $JELLY at any time and there is no lock-up period for the NFTs, allowing them to stake and unstake at their leisure. However, with the potential for earning more through staking multipliers, many choose to keep their NFTs staked.

Jelly Token

The Jelly Token, also known as $JELLY, is the native cryptocurrency of the Jelly eSports ecosystem. It is used as a reward for staking Jelly eSports NFTs, such as JellyBabies and Rascals, in the Stake House. The total supply of $JELLY is 50,000,000, which is held in the staking wallet and used for staking rewards for our JellyBabies and Rascals holders.

Staking Rewards

One of the main ways to earn $JELLY is through staking Jelly eSports NFTs in the Stake House. JellyBabies earn 1 $JELLY per day, while Rascals earn 5 $JELLY per day. Additionally, Game Rooms act as a staking multiplier when combined with other NFTs. The different ranks of Game Rooms offer different multipliers, with 1/1 Game Rooms offering a 6x multiplier and Rank 4 Game Rooms offering a 2x multiplier.

Utilizing $JELLY

Once earned, $JELLY can be used on all utilities, games, and tournaments within the Jelly eSports ecosystem. Additionally, $JELLY can be swapped for other tokens on various markets, such as DexLabs and Famous Fox Federation. It is important to note that it is not recommended to trade $JELLY anywhere else unless the token market is verified by the Jelly eSports team.

Conclusion

The Jelly Token is an integral part of the Jelly eSports ecosystem, serving as a reward for staking NFTs and a means of utilizing the various games and utilities within the platform. By staking their NFTs in the Stake House, users can earn $JELLY and take advantage of the various multipliers offered by Game Rooms. This creates a dynamic and engaging ecosystem for users to enjoy and participate in.