Gamefi — The next big thing?
Quick question?
Have you played a Blockchain game?
Anyway, let’s understand why Blockchain-based games matter now.
The gaming industry is valued at — $200 billion
Mega players — Epic games, Electronic Arts, Zynga, Nintendo, Ubisoft, etc.
Current problems of the gaming industry-
- Mostly Game Developers have a say in in-game rules and features
- You don’t earn while Playing a game.
- Enter Blockchain-based games-
Benefits of Blockchain games-
- You earn while Playing a game
- You mint your own NFT and you can sell it.
- You have a say in the community
- Authentic ownership of game assets
- Players decide on new game features and others
Examples of Blockchain-based games — axie infinity ( worth $3 billion), crypto kitties, etc
How will Blockchain games generate revenue?
- Token ( in-game spending)
a) Players can use tokens to buy characters/ new features
b) use tokens to help other players
c) Game players can participate in tournaments
d) Many others
There will be a genuine demand for tokens of a good and interesting game, mostly by players. And definitely after seeing a great active community around a game, what’s next- token holders/ investors will jump in.
2. NFTs sale
Good news-
- Most game developers studios are exploring a way to embed Blockchain.
- Lots of ICO’s ( Initial coin offerings) in the gaming sector. Some are demole, Gods Unchained, etc
Future trends-
Looks like Blockchain-based games will be a new trend. Game studios will have to give a play2earn option. Let’s see how it unfolds.
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Game + NFT + defi = Gamesfi
