The so-called GameFi isa combination of Game+DeFi, which is a mode of integrating games and finance. In simple terms, GameFi presents decentralized financial products through games, gamifying the rules of DeFi, and user assets can not only be used as in-game but users can also obtain income and rewards during the process of participating in the game.
Difference from traditional games
1. Players can participate in the optimization and modification of the game
Compared with traditional game companies planning and designing gameplay, scenes, characters, etc., each player in the chain game can participate in the improvement and upgrade of the entire game. There are governance tokens in the game. Players can obtain tokens when playing the game. Players can use token voting to upgrade and improve the game, so as to get a better experience in the future. Players and the game have higher interaction and commitment.
2. There is no centralized company operation
Chain games are not owned by a single company, but are games jointly operated and maintained by developers and players. The popularity of games is affected by the market. The better the game experience for players, the higher the number of users. On-chain games are not under the control of the company, and the company cannot control the future development of the game, or is forced to close it. Everything has to do with the users themselves.
3. Play to earn
Like traditional games, chain games can make money while playing. While playing the game, gold coins and props obtained from avatar upgrades can be sold in the on-chain market.
The origin of Gamefi
The combination of games and DeFi has produced GameFi, the gamification of financial mechanisms, making the process of making profits a fascinating and interesting experience. By taking advantage of the interests of different types of game players, the game’s money-making mechanism suits the player’s taste, while providing them with a large number of attractive activities and matching values.
As early as September 2020, Andre Cronje, the founder of the Yearn.Finance DeFi platform, first emphasized the concept of GameFi in front of a wider audience of online users. His tweet is about the gamification of monetary policy in a decentralized environment and the shift from TradeFi as the only tool to maintain space.
Since then, a series of new developments have shaken the entire industry, and the rise of non-fungible tokens (NFT) heralds the era of transition from gaming to a decentralized environment. Since then, this trend has not only witnessed the binding of digital assets and unique real-world assets with value, but also witnessed the explosive growth of the meta-universe.
Current gamefi trends
Due to the influence of AXIE, there are constantly institutional investment in gamefi projects in the market. Axie’s turnover in July exceeded $600 million, and its single-day revenue exceeded the glory of the king.
Because of the popularity of chain games like Axie Infinity, GameFi has gradually emerged under the influence of the “Play to Eran” game model. With the popularity of chain games, the concept of GameFi has gradually become the biggest outlet in the crypto circle in the second half of 2021. Many investors who are interested in NFTs or games, or other investors in the crypto circle are all gearing up, eager to try, and taking advantage of this opportunity to make a small profit.
According to the data of deppradar, games including MBOX have also achieved good results in terms of turnover on the 30th, but from the overall game trend, they are still in the PLAY TO EARN mode, and the quality is uneven. In terms of trends, p2e and NFT may still be mainstream in the future.
And this is very obvious to the Filipino players of Axie Infinity, and even the Axie Infinity professional game guild has been formed in the Philippines, organizing local residents to participate in Axie Infinity, providing it for free to players who do not have Axie, and earning income by playing games. Currently, the Philippines Players’ monthly income has exceeded the income of local traditional employees, some even 2–3 times as much. It can be said that YGG has contributed to the rise of gamefi, not only helping players enter the chain game market, the broader significance of the existence of game guilds is to promote the development of DeFi and DAO, which is equivalent to a fund that does not require access.
The difference between Gamefi and Metaverse
Gamefi, is a game first, and then on the basis of this game, add some elements of nft and defi, nft and defi are just tools, the purpose is to make this game more fair, free and fun.
Meta universe is not a castle in the sky, but a virtual space based on the real Internet world in the future. The scope of coverage will also expand from pan-entertainment to every corner of the Internet. However, the current development stage of the meta universe is still in the ultra-early stage, and it still takes a long time to develop and perfect. NFT will become an important infrastructure of the meta universe. Its uniqueness and irreplaceability will provide a reliable basis for people to map things in the real world to the meta universe, and it has initially shown its value at this stage, but in the future The core and extension of NFT still have a lot of room for imagination. GameFi is a very intuitive window for users to understand Metaverse. It originated in the game industry, but in the future, it will further affect all aspects of human social life such as social interaction and finance. The integration of NFT and GameFi has seen initial results, and will continue to have a profound impact on the macro and micro levels of the game industry’s business model and the confirmation of virtual assets in games. With a high probability, NFT will also further organically integrate with a wider range of industries, and collide with more innovative sparks.
What is the relationship between Metaverse, NFT and gamefi?
When it comes to meta-universe, one has to mention “the first unit of meta-universe”-Roblox. Roblox defines the eight attributes that the meta universe should have according to the characteristics of its own platform: Identity, Friendly, Immersive, Low Friction, Variety, Anywhere, Economical, Civilitive. Upon closer inspection, we can actually find that the eight attributes Roblox defines for the metaverse are actually very general, hollow and even slightly patchy. Of course, this is not to blame Roblox, but this reflects the current embarrassment of the metaverse. Circumstancesly, no one has been able to accurately define the meta-universe in the chaotic period, even Roblox, which has achieved a clear advantage.
Concept project
MBOX
Project details
Token name: Mobox (MBOX)
Total tokens: 1,000,000,000 MBOX
Initial circulation: 37,333,406 MBOX (3.73% of total tokens)
Total mining volume: 3,000,000 MBOX
MOBOX is a community-driven platform that uses token rewards to increase user participation and entertainment. MOBOX uses a revolutionary token economic system, combines the advantages of DeFi and NFT, and uses financial mechanisms and game systems to empower users, creating a truly unique and long-lasting free-to-play and easy-to-earn ecosystem. There is no pre-mining, no seed round, and no pre-sale for MBOX tokens.
The MOBOX protocol combines the best yield agricultural definition with game NFT, creating a true free game and game earning ecosystem. Using the Binance smart chain, MOBOX demonstrates true NFT interoperability by combining the cross-chain and cross-platform functions of NFT.
MBOX is a native utility token used to:
Process transactions through the NFT game platform.
Place bets on platform bonuses and rewards.
Used for governance voting to determine how resources are allocated.
Restrictions: No mining limit, no KYC. Binance promotes the gamefi concept project, staking NFT to earn income
From the perspective of the four-hour level, the funds unlocked for mining after the online pull has ended. At present, we are constantly testing at the support level. Due to the blood-sucking effect of BTC, the liquidity of the entire pool is insufficient. The triangular arrangement here has entered the end. If it breaks upward, it will form a strong buy signal to pull up and step back.
Project 2 GALA
Full name of the token: Gala Games
Token abbreviation: GALA
Token type: ERC-20
Total supply: 50,000,000,000 GALA
Gala Games has the dual identities of a game developer and a game aggregation platform/game store. In addition to the games developed by the Gala Games team, it will also attract other game manufacturers to launch games on the platform (requires node vote approval) Gala Games will subsequently generate standardized encryption toolkits, NFT libraries and wallets so that other game manufacturers can integrate them into the game and enter the Gala Games ecosystem. Games in the Gala Games ecosystem can issue NFT props. Users can purchase props with ETH, GALA, and BAT tokens to obtain additional bonuses in the game, which is equivalent to the in-app purchase mechanism of traditional games. The Gala Games game platform can use cryptocurrency and blockchain smart contract functions to allow developers to design blockchain games, while allowing players to own and transfer the loot NFT obtained in the game, and securely purchase, sell and trade through the peer-to-peer market. MMORPG/Adventure Simulator Mirandus, currently developed by Gala Games, is committed to completely redefining the game development process and game mode, putting power in the hands of players, and allowing them to ultimately control the content economy in the game. Gala Games puts fun first and blockchain behind.
From the 4-hour level, the trend is the same as that of MBOX. This also means that the gamefi concept after the previous surge has reached the time to choose the direction. After the date 10.28 time frame, we need to pay attention to whether the gamefi concept can break through the triangular arrangement.
Summarize
The concept of Gamefi is an emerging investment model. The transformation from the real economy to the chain game is a long-term concept. The front-row institutions including coinbase, binance, a16z, etc. continue to pay attention and increase investment, indicating that gamefi may go out in the future. The bigger trend even surpasses the status of defi. Some high-quality varieties, especially those that can give back to the real economy, deserve more attention.
