GameFi and other interesting financial 2.0 ideas: high-performance decentralized solutions

By analyzing the data performance and status quo in the GameFi field, this paper proposes a high-performance GameFi solution with a decentralized server and fully controlled by smart contracts.

Recently, Andre Cronje, the soul of DeFi, announced his withdrawal from the circle, which caused the Token price and TVL of related projects to plummet, and after the United States called for sanctions on Russia, many encryption/Web3 companies began to prohibit Russians from using related services and other events, making the outside world more concerned about encryption. Whether the realm is truly decentralized is a question mark.

In 2022, when the cloud of war is shrouded in war, some GameFi projects are not only not affected by the tense international environment, but also separate from the US stock market and A-share market and walk out of a wave of independent market. At present, the common problems of GameFi projects, that is, the two key problems caused by excessive centralization are risk resistance and sustainability. In fact, the essence of such projects is still traditional games, but simple configuration of the chain and economic model. For complete decentralization, the current industry consensus is that efficiency is not available.

In this paper, Geekcartel proposes a set of high-performance GameFi solutions with a decentralized server and completely controlled by smart contracts by analyzing the data performance and current situation in the GameFi field for readers to discuss.

Multi-latitude data analysis GameFi status

GameFi, Metaverse, and scene-based, gamified DeFi platforms are all Decentralized Leisure Finance, including CryptoKitties, land auctions, etc., as well as games such as StarSharks and Defi Kingdoms, which have been hot in the market recently. Domains all have one common attribute: fun

For the convenience of discussion, this article classifies these sub-fields as DLF, because in this analysis report, concepts such as GameFi and Metaverse will be unified and dialectically summarized through their commonalities. In the projects in the DLF field, the GameFi type accounts for the largest proportion and includes game functions. Therefore, this part will take you to understand the game market from multiple dimensions.

2021 is a year of explosion for GameFi, including the following reasons: First, compared to traditional games, the popularity of GameFi games such as Axie Infinity makes the P2E innovative model show more possibilities and explosiveness in the field of chain games; second, Under the global epidemic, people’s lives and entertainment methods have changed, the concept of the Metaverse has become popular, and the economic benefits of GameFi in the virtual world have begun to attract more and more attention; third, in addition to Ethereum, with the increase in transaction speed and handling fees, etc. The rise of a new public chain with advantages has also planted the seeds for the increasing diversification of GameFi.

GameFi and other interesting financial 2.0 ideas: high-performance decentralized solutions

According to the statistics of Footprint Analytics, an on-chain data analysis platform, as of March 24, the number of GameFi projects in the past year has increased from 689 to a maximum of 1,384 (excluding various local dogs and short-lived projects), and daily active users have also increased from 82,000. To the extreme value of 1.51 million, a full increase of more than 17 times. Although the daily activity of over 1.5 million in the GameFi field seems to be very high, the proportion is still relatively low compared to other segments of the crypto industry. For example, the current total number of addresses in Ethereum has exceeded 190 million, and the total number of addresses in BSC has exceeded 1.4 billion and so on. It can be said that GameFi is only just emerging in the entire encryption industry.

GameFi and other interesting financial 2.0 ideas: high-performance decentralized solutions

Throughout the overall development of GameFi, although most of the early projects were concentrated on Ethereum, due to its network congestion and high gas fees, the poor user experience slowed down its development pace, and replaced it with BSC, Polygon, WAX and Roin and other on-chain game activities have increased. Footprint Analytics shows that the number of games on each chain has soared since July last year, reaching 1,383 as of March 23. Among them, Ethereum accounted for 37.3%, BSC accounted for 31.5%, and other public chains accounted for less than 10%. From this point of view, although other new public chains have divided up the market share of Ethereum to a certain extent, the latter still occupies a dominant position in the market.

GameFi and other interesting financial 2.0 ideas: high-performance decentralized solutions

However, judging from the growth rate of game projects on each chain in the past year, although the number of Ethereum games has always remained the first, there has been no obvious increase. On the contrary, the growth of game projects on BSC ranks first, from 15 in the past to 436 today, and the number is close to Ethereum; the second in increments is Polygon, which has increased by 80 games in the past year. Projects; third in growth is WAX with 63 additions over the past year. From this data, in addition to Ethereum, BSC, Polygon and WAX are more popular among development teams.

GameFi and other interesting financial 2.0 ideas: high-performance decentralized solutions

GameFi and other interesting financial 2.0 ideas: high-performance decentralized solutions

From the perspective of GameFi’s user activity in the past year, Hive has recently ranked first in the daily active users of public chain games, accounting for 30.7%, followed by WAX with 30.1%, and Polygon ranked third with 15.3% . At the same time, the number of daily cross-chain GameFi users is also increasing, among which WAX is the most prominent. Since its rapid growth in April last year, the number of users has remained between 300,000 and 350,000. In addition, the number of Hive and BSC users also increased significantly from August to December last year, and once surpassed WAX, but BSC has experienced a considerable decline since 2022.

GameFi and other interesting financial 2.0 ideas: high-performance decentralized solutions

While the popularity of GameFi is rising, financing is also continuing to flow in. Footprint Analytics data shows that since September 2021, affected by the overall market conditions, financing events in the GameFi field have begun to increase significantly. As shown in the figure above, most of the financing for GameFi projects comes from seed round financing, followed by pre-seed financing. The main reason behind this phenomenon is that the opening cycle of high-quality games often takes months or even years.

Talking about the current problems and solutions of DLF

DLF projects can be roughly divided into two types: relatively centralized and highly decentralized. Among them, the problem of highly decentralized projects is that the interface has poor interactivity and cannot host open world game applications; relatively centralized projects have certain advantages in screen and gameplay design, but cannot solve the problem of centralized servers and databases. question. The current user’s connivance allows GameFi project parties to develop and operate projects in a centralized form, which not only deprives users of the actual decision-making power, but also causes frequent systemic risk problems such as theft and running away in the market.

For example, recently under the influence of centralized regulatory agencies, MetaMask, OpenSea and other projects have stopped serving users in some regions. Coincidentally, the withdrawal of Andre Cronje also caused the related tokens to plummet, and even projects such as Chainlist were forced to shut down. From this point of view, decentralization is always the core demand of the encryption field, and there is still a long way to go.

So, in the face of such a dilemma, what is the decentralized high-performance DLF solution? In fact, efficiency and decentralization are not inseparable. What the market needs to do is the following:

  • Scalable smart contracts will be a must for contract developers

Computer languages ​​such as Solidity, Rust, and Go are not a problem in themselves. The problem is that the addresses of smart contracts that have been deployed on the blockchain will change after each redeployment, which will lead to the loss of users and the generation of distrust. At present, Solidity-based upgradeable smart contracts have roughly taken shape, but developers of smart contracts in other languages ​​still have no clue. In fact, the core logic of upgradeable smart contracts lies in the separation of data and logic. Specifically, the data contract remains stable, the logic is stored in another contract, and the logic contract can be redeployed. Every upgrade and modification are logical contracts, and this idea can be applied to all chains. In this way, not only can the function, logic and security of the contract be upgraded under the premise of keeping the contract address unchanged, or new plug-in contracts can be added, but also the multi-chain smart contract can be used to explore the formation of better depth among multiple chains. The flow cell may also become the outlet for the next stage.

In addition, the decentralization of the contract is also the key. If the smart contract is only controlled by an administrator address, it is meaningless. Given that there are many decentralized governance solutions in the industry, I will not repeat them here.

  • Client is Server

In general HTTP/FTP downloads, files are published only on one or several servers, and the number of downloaders is too large, and the bandwidth of the server is easily overloaded and becomes very slow. The characteristic of BitTorrent protocol download is that the more people who download, the more bandwidth is provided, and the faster the download speed is. At the same time, there will be more and more users with complete files, which will prolong the “life” of the files.This method can also be applied to decentralized games. The current chain game is mainly based on round battles and development, and does not need to delay the response speed as low as milliseconds. Based on this situation, the project party can completely abandon the use. When the number of users grows too fast, the centralized server will be overwhelmed, so the project party can choose:

  1. Based on the “Play is Earn” of complex games, players who play games are mining. When the player is playing the game, it will broadcast its coordinates and behavior to nearby users (nodes) so that other players can obtain the user’s location and behavior, and get rewards;
  2. Based on a simple blockchain network game, it is transformed into a stand-alone game + blockchain, that is, client open source + contract open source. The user runs the client locally and selects the public node of the blockchain to access the smart contract of the project side.

This distributed game system can conduct slot auctions like Polkadot, providing slots to provide computing power for public chains that require computing power support. Users can therefore obtain computing power income, thereby solving the current situation of GameFi zero-sum games in the existing market.

  • UGC-based, “self-evolving” DLF

Decentralized fun financial projects in the future must be user-generated content. What the project party needs to do is to build an open, transparent and free platform, and more importantly, to allow and encourage users to create freely and let users maximize their talents, so that unlimited activities and vitality can bloom.

In fact, traditional games based on UGC have been contacted by many users, such as:

  1. Mod supports powerful games (eg: Mount & Blade, The Elder Scrolls V: Skyrim)
  2. Basic creative games (eg: Minecraft, Mario Maker)
  3. Games that require constant new content (example: MMORPGs such as WOW)

Compared with these existing GameFi, Leisure Finance based on UCG content creation will not be limited by the existing framework, and can complete the hot update of almost all content, with greater possibilities.

Summarize

Although the emergence of interesting financial platforms such as GameFi and Metaverse Scenarios has not been around for a long time, they have objectively attracted a large number of new users to enter the market. Their admission not only injects vitality into the crypto industry, but also brings about user growth. new answer.

Looking back on 2021, the GameFi entrepreneurial team that has entered the bull market and the Nuggets have mostly unsatisfactory understanding and technical depth of decentralization. Therefore, this article believes that in the next stage, true decentralization will become a differentiated competition between general chain game teams and big game companies. The main advantage will also become an important evaluation item for identifying the value of chain games, just like the number of users and the level of game production.

From the perspective of more than 100 DLF projects from the beginning of 2022 to the present, most of the current solutions only stay in simple traditional games + Token on-chain, or NFT auctions and FOMO models, and the potential creativity problems are worrying. However, the development of interesting finance such as GameFi is far from being limited to the simple chaining of a traditional game, and the so-called economic model innovation is bluntly configured. Geekcartel believes that the future of interesting finance such as GameFi will be solved by a set of decentralized solutions that can operate with high performance. The program opens the real 2.0 era.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/gamefi-and-other-interesting-financial-2-0-ideas-high-performance-decentralized-solutions/
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.

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