❕Game 2.5
The first iteration of Blockchain Integrated Games.
Last updated
The first iteration of Blockchain Integrated Games.
Last updated
To put it simply, GameFi leverages gaming to enable decentralized blockchain financial transactions. This era is notable for the "Play-to-Earn" approach, which became popularized with titles like as Axie Infinity. The possibility of making money in GameFi is what drives players' actions the most. The conventional gaming objective of enjoyment and amusement is frequently eclipsed by this profit-driven mindset. Because of this, many GameFi initiatives may function similarly to games but lack the captivating and entertaining elements that set them apart. One important thing to keep in mind is that GameFi may not really be a standard gaming platform at all. Rather, it may be viewed as a gamification of finance, transforming trading and investing into activities that resemble games but lack the fundamental elements of gaming.
Digital Asset Trading: Gamers may own their own in-game assets with GameFi; these assets are kept on the blockchain as NFTs. Players may trade, sell, lend, or even use this ownership as collateral, opening up new revenue streams and financial prospects.
Use public blockchains: Blockchain networks used in GameFi games are decentralized and open. This opens the door to greater player input and openness on game mechanisms in the future. The transactions on these blockchains are visible to all parties, which increases the transparency of the GameFi system, such as Cryptoblades and Axie Infinity.
Extractive Ecosystems: Because of the "play-to-earn" philosophy, gamers prioritize earning above having fun. As a result, extractive ecosystems have short game lifespans and little player loyalty.