Gamefi stands for “Game+Defi”, which refers to the blockchain game that introduces the Defi mechanism, and its biggest feature is “Play to earn”.
Gamefi, exemplified by Axie Infinity, has changed the profit model of the production team, binding the interests of the production team to the long-term ecological development of the game, and players can also share the dividends brought about by the development of the game. In addition to the first NFT game props release, the production team of the game no longer intervenes in game resources, relies on transaction fees to achieve profit, and issues governance tokens to gradually achieve community governance.
Game resources are produced by players and traded freely. Players obtain game resources for sale through playing games. Monthly income can be as high as $1,600, which is quite attractive compared to real work. In fact, gold and free markets in traditional online games have already existed, and the essence of Gamefi gold has not changed.
The essence of game gold is to obtain game resources in the game and sell them to other players. This demand for game resources ultimately comes from two situations: players are willing to pay for the game out of experience; The demand for game resources has increased.
Thanks to the openness of the blockchain, the business model based on the virtual economy of games will be more active and rich
Because of the data openness of blockchain projects, any individual or organization can use the data of digital assets, and can explore business models based on game digital assets, such as the rental and trading of game equipment. In the Gamefi mode, these third-party organizations based on game assets emerged from the gray area and became important participants in the virtual economy, and maintained a good relationship with the production team.
The development of AI will transform Play to earn into Create to earn
Automated game scripts exploit player labor, and the development of AI will completely replace players’ mechanical labor in games, and even replace intellectual activities such as e-sports. And from Roblox we see another direction of Play to earn, the Create to earn mode that brings new services to players through virtual creation.
Blockchain games ensure the ownership of digital assets, while programmable NFT rights and interests bring more economic vitality to Create to earn.
Continuous promotion and exploration of Web3.0 business model
The decentralized Gamefi model directly distributes the money earned by game companies to participants, forming a distributed game business economy, and exploring a way for the next large-scale promotion of the Web3.0 business model. The application form of Web 3.0 will be transformed from product-led users to user-centric open source products, with the community as the core in the distribution of benefits, and the relationship between developers, users, and investors will be bound through the token economy.
With the rise of the chain game track, how does GameFi realize “make money while playing”?
In August this year, the blockchain game track broke out. The investment in the blockchain game field exceeded US$1 billion, which was only 72 million in the whole year of last year.
The concept of Gamefi emerged. Gamefi means “Game+Defi”, which refers to blockchain games that introduce Defi mode and tools, which often include the mechanism design of NFT, Defi and governance tokens. Its biggest feature is “playing while playing. “Play-to-earn” (Play-to-earn), in Southeast Asia, which is deeply affected by the epidemic, this kind of game gold activity is particularly common, and the average monthly game income can be as high as 1,000 US dollars.
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