I know that you are all probably fixated on the state of the markets. As I explained in a recent TikTok video, there is cause for optimism. I will also be covering this in greater detail in my newsletter tomorrow – so keep an eye out for that.
For today though, I have a video that will help to take your mind off the market. It’s a complete beginners guide to GameFi!
But, first, a fun fact for you:
Did you know that the origins of GameFi and blockchain gaming stretch almost as far back as the very beginning of Bitcoin and cryptocurrency?
Currently, blockchain gaming has turned into one of the hottest commodities in the cryptoverse. And for good reason too!
This is simply because blockchain-powered gaming protocols open up an entirely new set of economic paradigms. They offer players some truly unprecedented financial opportunities that simply weren’t feasible beforehand.
The reason for the success of some early titles like Axie Infinity etc stems from the fact that they gave birth to a new vertical in the gaming industry, commonly referred to as the Play-To-Earn model.
This essentially means that you can actually earn an income for playing your favourite crypto game. It’s a magnificent financial proposition for many players around the globe, especially those residing in areas struck by geopolitical or economic instability.
In addition to this, something else that’s particularly appealing about Play-To-Earn games and the GameFi ecosystem overall is that they fundamentally revolve around the use case and utility of in-game NFTs which. These for the very first time enable players to actually own their virtual assets and allow them to trade them on for real-world economic value.
Therefore, given the huge demand for blockchain games and for their respective NFTs, it isn’t hard to predict that GameFi could potentially prove to be one of, if not the most exciting revolution to hit the global gaming market.
Having said that, this does not necessarily mean that every game implementing Play-To-Earn or GameFi components is destined to succeed long-term.
This is a good one, Guys. So, strap in, get your joysticks ready and let’s dive into the magical world of GameFi.
⛓️ 🔗 Useful Links 🔗 ⛓️
Bloomberg on GameFi: https://www.bloomberg.com/news/articl…
Accenture’s Gaming Industry Report: https://newsroom.accenture.com/news/g…
Axie Infinity Whitepaper: https://whitepaper.axieinfinity.com
The Future Of Crypto Gaming: https://www.coindesk.com/policy/2021/…
Andre Cronje’s ‘GameFi’ Tweet: https://twitter.com/andrecronjetech/s…
Big Time Studios: https://bigtime.gg
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.