What is GameFi? Buckle up because Play-To-Earn is the crypto narrative of 2022, and it’s here to stay.

Gaming is not new; in 2021 alone the gaming industry generated a whopping 180 billion dollars worth of revenue but where did it all go? GameFi is here to transfer those earnings from the developers straight into the hands of investors and players- now tell me that’s not dope.  Right now across all the most popular online games; any skins you purchase, items, upgrades, progression or characters on your account are not owned by you the player but still owned by the gaming company.  Players invest thousands of hours in their favorite games whether it be the latest AAA mega shooter, a candy crush style casual game, or a full on role playing game with a vast story just for a sense of entertainment. Players that invest money through micro transactions are only rewarded with satisfaction, but decentralized NFT gaming is here to change all of that. Imagine you could go back and put your old maplestory account on the marketplace and have it be worth 20 Eth… now were talking.

GameFi is the exploding application that brings together gamers, investors, gamblers, traders, collectors, tokens, ecosystems, and dynamic marketplaces all incorporated on the blockchain.  This new play-to-earn NFT model gives players the ability to earn on their investments; whether it be capital, time, skill, or strategy.  Advantages are now meaningful; there are real money consequences to your gaming decisions. Every trending space is filled with promising innovative projects but can also be riddled with anonymous developers looking to cash in on a quick opportunity. Hundreds of block chain games are in development now across all major blockchains, IGO’s and launch platforms are releasing new NFT gaming projects daily and it can be overwhelming deciding what, where, when, and how to play. 

If we check the top blockchain games on dappradar we will see all types of gaming markets in the top rankings. We have the traditional trading card games which are perfect for the NFT model, players can battle it out and collect cards and create decks that are NFTS.  These ecosystems revolve around the cards and tokens to reward players as well as hold value in the assets.  Next up is the browser type idle or farming games, these games model behind more of a staking and hash rate type model that encourages players to collect and build their collections as they are rewarded more for bigger and better collections.  Last we have the “pokemon” model which is ever so popular where players can collect NFT creatures and battle them to earn rewards. These model games have sustainable ecosystems due to supply caps, breeding mechanisms that mint new NFTs, and tokens that help with governance or rewards. 

Gaming platforms such as GALA games have been picking up steam recently due to their platform model and promised inventory of a diverse set of games.  The future is trending toward a STEAM type of community and marketplace; all incorporated on the blockchain. Fully fledged exchange access, wallet connections, DEX integrations, and social community aspects will all be a part of the web3 transformation.  The opportunities within these ecosystems are limitless, investors can make profits purchasing NFTS to play the game, they can choose not to play and invest in the governance token, they can watch the marketplace and invest in NFTs that will appreciate in value as the game grows, or they can become a breeder and mint new NFTS to sell to existing players; the potential to earn within these sustainable systems is multi-layered.       

About The Author