Can you really earn money in GameFi?
GameFi is the perfect combination of gaming and finance, and the gaming industry is currently valued at about $175 billion and is expected to reach $200 billion soon by 2023. At the same time, due to the continuous development and expansion of the crypto industry, the huge gaming market share and the flexibility of the crypto industry have combined to create today's GameFi.
Simply put, it is a platform where users can earn money through games, and GameFi covers a wide variety of game rules and structures. Therefore, it is not limited to any particular technology or platform, most GameFi structures will do. Initially, players must hold assets in in-game counterfeit currency, after which players can start playing and profit from various activities. GameFi apps are varied, but most are built on a few common walkthroughs. P2E allows players to earn assets through games, but the earnings received will be transferred to cryptocurrency NFTs.
NFT is a digital asset based on blockchain technology, which cannot be copied and forged to create the value of the material itself. In order to distribute rewards and maintain the value of the GameFi project, each game uses its own token blockchain. Technology, the original GameFi games were built on the Bitcoin blockchain, with the gradual expansion and increasing complexity of GameFi, now gradually moving to the blockchain based on DApps, such as Ethereum Wax, Solana or Binance, on the blockchain With the support of technology, the exchange of all buying and selling items is open, transparent and fair, GameFi provides a new way to make money in the field of encryption, and also provides GameFi for players, which has been and will become a necessity of blockchain trend. At present, GameFi's budding market share is still huge. At this stage, most of the GameFi on the market are released on the PC platform, and most of them need to spend a relatively large amount of money in the early stage to start earning income, so it is difficult for beginners to get started. .
In addition, due to the explosive growth in the early stage, there is indeed a certain bubble phenomenon at present. There are many projects that are fished in troubled waters, low-quality and even used for fraud. Everyone must keep their eyes open, participate carefully, and have fun through the effective use of GameFi and NFT development. In the field, GameFi has the advantage of using existing platforms, especially NFTs. If players can collect rare NFTs in the game, they will tend to invest more in the game and invite other friends to join. Another factor that may stimulate further growth of GameFi is the decentralization he pursues, thereby encouraging more players to participate, and finally the emergence of the metaverse, where future careers can be deployed on GameFi, due to the spread of the COVID-19 virus, The world is recently experiencing an online working lifestyle, with things like doctor visits or online consultations in virtual reality becoming more frequent.
With GameFi's diversification and adoption of new DeFi and DAO programs, we're sure to see more innovations and improvements.
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