Demystifying the 5 reasons why Gamefi is so popular this year

Gaming, a field that is despised by modern parents, has been produced since ancient times. According to archaeologists, the earliest game of mankind was to roll the dice.

In modern life, games develop into different presentation forms according to different needs. For example, entertainment and recreational games, and emotional promotion games for company team building. Today we will talk about the popular NFT game-Gamefi.

What is Gamefi

GameFi refers to the presentation of financial products in the form of games. Now the most widely interpreted by the market is the collective name of the most popular blockchain games in the encryption circle. It combines decentralized finance (DeFi) and non-homogeneous tokens (NFT) with online games based on blockchain technology.

From the perspective of the model, the understanding is more profound, that is, GameFi has introduced a “make money while playing” model, and making money is the focus of external publicity. This money-making is not everyone can make money. It is said that this game mode gives players a money-making mode. Players can sell the items in the game to the trading platform in the encrypted market in exchange for real money.

Currently the most popular GameFi game is Alien Worlds, which became the main driving force for the rapid development of the NFT industry in the second half of the year.

Why chain games are popular in the crypto market

2-1. Fairness

This is easy to understand. The essence of the blockchain is “decentralization” and “hard to tamper with”. The combination of blockchain technology + games gives market participants the opportunity to play a fair game, which is difficult in traditional games. Do it.

In traditional online games, the participation of local tyrants in real life greatly affects the game mechanics and fairness. Such krypton players can easily lead the hard work of ordinary players by purchasing experience, level, and equipment through a large amount of cash. This results in a high-quality experience for krypton gold players, at the expense of the gaming experience of a large number of ordinary players.

Today, the performance of the Ethereum public chain has been greatly improved, and the Layer 2 network and other high-performance public chains have come out one after another, which has solved some of the pain points for game users. While alleviating congestion, it also reduces Gas costs and paves the way for the popularization of GameFi projects. The game player experience has taken to the next level.

2. Opportunities for admission

In the second half of 2020, the bull market led by Defi drove the prosperity of the crypto market. By the beginning of 2021, Bitcoin mining machines and various mining currencies are making a lot of money. Many people in the circle were afraid of the high entry cost of mining machines and were afraid of missing the bull market dividend, so NFT games became the best entry channel at the time.

3. Axie Infinity ‘s Conferencing Effect

In July, the revenue of the blockchain game “Axie Infinity” reached a new high in the past 30 days, reaching 334 million US dollars, surpassing the 231 million US dollars (Sensor Tower data) revenue of “Honor of Kings” in July. After the success of the game project Axie, it is a very strong advertising effect, which can attract more internal and external traffic to enter the market.

4. Blessing from major brands

This year, under the trend of NFT, the chain tour track has naturally attracted the attention of the capital side. GUMI, Square Enix, BAN DAI NAMCO, NetEase, Shanda, Tencent , NEXON, NC Soft, etc. are all in the game track layout. After the capital is added, more brands are forced to join the track.

At the same time, these capitalists and brand manufacturers have their own traffic attributes, and it is logical to bring in a wave of out-of-circle traffic to join the chain tour track, so that this track can continue to shine.

5. Evolution of the game

The biggest feature of chain games is that the ownership of game assets returns to players.

In the traditional game field, the game account only has the right to use but not the ownership for the player. As the developer shuts down the game server, for example, the virtual skin assets in Your King’s Glory instantly return to zero.

In blockchain games, the game rewards are encrypted assets, which can be bought and sold freely on the chain. Blockchain games ensure the ownership of digital assets, GameFi’s game mechanism, and the initiative is handed over to players, reconstructing the relationship between developers and players, and have great penetration and development potential.

At the end of the article

Compared with traditional games, the chain game sector has increased the ways of monetization. The wealth effect will inevitably attract more foreign capital and flow to join. With the addition of large capital, it can accelerate the infrastructure construction of the chain game track and improve the chain game. Game performance.

In the future, with the continuous iteration of chain games, when the game experience reaches the effect of mobile game experience, I believe it will usher in a big explosion of chain games and become the next outlet.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/demystifying-the-5-reasons-why-gamefi-is-so-popular-this-year/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Leave a Reply