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GAMEFI

๐†๐š๐ฆ๐ž๐…๐ข is one of the hottest topics in the crypto industry at the moment. Blockchain gaming looks poised to disrupt the global video game market.

ย So what is ๐†๐š๐ฆ๐ž๐…๐ข and how do these games work?ย 

๐–๐ก๐š๐ญ ๐ข๐ฌ ๐†๐š๐ฆ๐ž๐…๐ข ?

๐†๐š๐ฆ๐ž๐…๐ข is a combination of decentralized finance (Defi), non-fungible token (NFT) and blockchain based online games.

Different from traditional online games, operating in the model where players buy upgrades to gain an advantage over other games. ๐†๐š๐ฆ๐ž๐…๐ข introduces the โ€œPlay to Earnโ€ model. This has allowed gamers to earn a full-time income by contributing time and effort.

๐‡๐จ๐ฐ ๐๐จ๐ž๐ฌ ๐ญ๐ก๐ž ๐†๐š๐ฆ๐ž๐…๐ข ๐ฉ๐ซ๐จ๐ฃ๐ž๐œ๐ญ ๐ฐ๐จ๐ซ๐ค?

The different ๐†๐š๐ฆ๐ž๐…๐ข projects often have a few things in common:

In-game items such as avatars, land, costumes, weapons, gold, tokens, and pets are represented as NFTs, proving ownership of these digital objects.

Gamers obtain these items through gaming and can trade them on the NFT marketplace for profit, or exchange them for crypto and then exchange for fiat.

GameFi is distinguished in many different forms. Thereby, the mechanism by which players can generate revenue through their play will be different. The most popular blockchain games today use a combination of the following features:

Play to Earn: In blockchain games, players receive rewards for completing in-game objectives. The funds awarded in these Play to Earn titles are typically derived from a reserve of native tokens held in the smart contract.

Asset ownership: Digital ownership of unique assets creates economic opportunities that were not possible before.

Defi Features: In addition to providing Play to Earn income features, some ๐†๐š๐ฆ๐ž๐…๐ข projects offer passive income including staking, yield farming, liquidity mining.

Blockchain Technology: The original ๐†๐š๐ฆ๐ž๐…๐ข games were built on the Bitcoin blockchain. However, with scaling and increasing complexity, it became necessary to move to blockchains based on building with DApps, like Ethereum.

No or little upfront costs: As you can see, ๐†๐š๐ฆ๐ž๐…๐ข games are free to download and play. This makes them more accessible than traditional games. Although there is no upfront cost, some games may require you to purchase in-game tokens, characters, and other items to get started. This expenditure will make a profit after a while.

The most popular ๐†๐š๐ฆ๐ž๐…๐ข Protocols today

Most modern game blockchains can be found on networks that support smart contracts. Ethereum was the first and still the most popular, and suffered from the problems I mentioned about Ethereum’s limited block space, etc. Therefore, many developers are now moving from Ethereum’s base layer to networks. faster, higher capacity & ๐Œ๐ž๐ญ๐š๐ฏ๐ž๐ซ๐ฌ๐ž will be the best choice in the current trend!

GAMEFI

๐๐ˆ๐™๐•๐„๐‘๐’๐„ – ๐“๐ก๐ž ๐Œ๐ž๐ญ๐š๐ฏ๐ž๐ซ๐ฌ๐ž ๐Ÿ๐จ๐ซ ๐๐ฎ๐ฌ๐ข๐ง๐ž๐ฌ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐‚๐จ๐ง๐ญ๐š๐œ๐ญ๐ฅ๐ž๐ฌ๐ฌ ๐„๐œ๐จ๐ง๐จ๐ฆ๐ฒ

๐ต๐‘ข๐‘–๐‘™๐‘‘ – ๐‘†โ„Ž๐‘œ๐‘๐‘๐‘–๐‘›๐‘” – ๐‘Š๐‘Ž๐‘ก๐‘โ„Ž – ๐ถ๐‘œ๐‘›๐‘›๐‘’๐‘๐‘ก – ๐‘†โ„Ž๐‘Ž๐‘Ÿ๐‘’ – ๐‘ƒ๐‘™๐‘Ž๐‘ฆ – ๐ธ๐‘Ž๐‘Ÿ๐‘›.

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