GAMEFI: A CONCEPT THAT CHANGES ELECTRONIC GAMES

GAMEFI: A NEW CONCEPT THAT CHANGES ELECTRONIC GAMES

The world of video games has been a field where most cryptocurrencies have been used and accepted in recent years, they have much room in personal entertainment, but one of the most attractive features of these tools is obtaining excellent profits for the fulfillment of challenges and activities in the different environments of these video games. More of this on bitcoin up.

Right now, many updates and tools are being developed to facilitate full accessibility to these coveted and popular video games, such as GAMEFI, which is causing a furor in the crypto world.

Descriptive features of the GameFi project

The fusion of gambling and earnings has managed to establish itself as a global trend in cryptocurrencies and video games. In the industry of these, it has been evolving over the years.

Features such as themes, graphics, quality, and sounds have improved significantly since the first video games were developed in the 1950s. However, despite the development and growth of this industry and governed by a model in which players did not get almost any economic benefit for the time dedicated to the game, this changed when the industry implemented blockchain technology.

Whereas GameFi is not a game of chance, each part of this emerging module requires players to possess and apply a combination of skill and strategy to make profitable gains. Luck will be a part of these games, but it is not the critical factor determining the winner or the financial reward.

This environment has elements in the game such as lands, costumes, avatars, weapons, tokens, gold, and pets, identified with NFT: non-fungible digital tokens that provide and certify the ownership of these digital assets. Players purchase these assets through the game and exchange them at NFT merchants for profit or exchange them for cryptocurrencies, which can also be traded for traditional currency such as dollars, pesos, and others.

Games attractions

In this world, players sometimes bet their assets on the game to earn interest every year and many more benefits, which are used to unlock new levels and purchase additional items for the game, simultaneously players could choose to request financing, guaranteeing their assets within the game.

Within the GAMEFI creation projects, user interaction in decision making is allowed, where several games enable players to select future updates of the game, giving them the power to decide on the GameFi stakeholders.

Play to win, games motto

The strategy of playing to win is very original and exciting for GameFI’s projects. In classic online games, money is earned through in-app purchases, partner marketing, and advertising.

Each player demands money by purchasing game items to win and gain an advantage over other players, typical for game operators.

This project assumes simple game mechanisms, an aspect that makes them easy to understand and navigate, which allows the vast decrease in radical selection when users enter, giving the possibility of inclusion to players of all ages, novice or experienced.

Conclusion

GAMES emerged very early together with cryptocurrencies, but it is currently where it is beginning to have global adoption; proof of the growth and development of this new and exciting current is the infinite boom of Axie Infinity, a video game that became Currently the only one to exceed 1 billion dollars in token sales during the month of August 2021 and more than 1 million players have been registered interacting daily.

The technological world seeks constant innovation for crypto games, managing to reach the level where new GAMEFI projects are attracting the attention of a large number of fans, as well as injecting institutional credit.

Many industry experts say that crypto games are the most viable means for implementing and full use of blockchain technology. As these projects gain reliability among traditional players, the adoption and demand for cryptocurrencies will increase significantly.

Video games are a profitable way of making a profit; some users worldwide already assume them as a very lucrative work activity, which they gladly comply with and can be part of it with little investment.

It is a trend that causes curiosity for many, but care must be taken when being part of it.

Although GameFi is developed in a cryptographic environment, it requires dedication to know the technologies and forms of payment if they are considered a source of income.

Cryptocurrencies and GameFi are two different but related concepts.

Must Read: Australian Companies Failing to Report on Cyber Security

Kelly Wilson
Kelly Wilson
Dream big, play hard, take the wins and embrace the losses.

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