Now games with which you can earn money are just at the peak of their popularity. As a rule, they are associated with NFT tokens. Monetization of the gameplay takes place with the help of GameFi, which we will talk about today in more detail.
Let's start with What is GameFi? This concept stands for Game Finance, which is used for blockchain projects with which you can monetize your game. This is very convenient and popular because the user is rewarded for playing and developing the game.
GameFi is not just a platform, but rather an idea that supports, finances, and promotes a blockchain-based free-to-play gaming model.
The idea is to create a vast market for games that can be won under a single banner, making it easier for gamers to work with the different games they can play.
The resources that define GameFi and separate the two traditional games belong to two assets: the tradability of those assets and the transparency of the dice.
GameFi has several important resources that are at the heart of their idea of building a better gaming financial ecosystem. Marketplaces, a platform for launching Initial Game Offerings (IGOs), and decentralized governance that can change how games work are three main resources.
Unlike the two traditional games, GameFi rewards more players for all the time and skill they put into the game. And, unlike the two traditional games, they are active possums who win games against us.
Moreover, this is due to GameFi's idea to keep track of stronger financial mechanisms for games.
How does GameFi develop the best financial models for games?
It's easy to say that GameFi is better at finding games, but what does that mean? There is a gap in the universe of cryptocurrencies, namely that these games and their metaverses exist in isolation. Simple interaction and migration of assets between these games are simply not possible today. This is a big hurdle to niche growth that needs to be addressed for your players to have fun and uninterrupted experience.
GameFi focuses on its improvement agenda or the financial model of games. The core philosophy is to give games different ways to earn tangible rewards for their skill, pace, and interaction across the various game metaverses.
But the main idea that GameFi goes through is that all game projects can be placed under one roof. Integrating them through a vast decentralized gaming hub means that all NFT assets and gaming resources can be in one place.
Of course, gamers will also be able to support new game projects through the launchpads. GameFi is entering the market with these Initial Game Offerings (IGOs), where gamers fund games early in development for those who receive exclusive benefits and native tokens from those games.
GameFi is a platform that gives a lot of games life and further popularity. Therefore, it's time to create your own NFT game. And nft game development services at Whimsygames will help you with this.