GameFi in the Gaming Industry

You may have heard about NFT gaming and wonder how it’s different from online games and mobile games. Also, is it good for the gaming economy and industry as a whole?

Here are 4 reasons why GameFi titles are a win-win for the gaming community in general.

Rides the Cryptocurrency Wave

NFTs couldn’t have come at a better time- cryptocurrency such as Bitcoin have reached a level of global exposure that it’s easy for anyone to get into it.

Both non fungible tokens and cryptocurrencies are considered digital assets, and investors can choose from dozens of them. Invariably, you can spread your capital on Bitcoin and other cryptos and use a trading software such as bitcoin era bot to make a profit while spending time playing games to earn NFTs, which you can sell on a dedicated online marketplace.

While NFTs are riding the wave they can be used to generate awareness and promote applications where they can be used. These assets are already making rounds in other industries, including art, collectibles and more.

Boosts Gaming’s Popularity

Gaming has experienced a resurgence as most people stayed indoors during the pandemic. Mobile games, online games and console games all enjoyed a boost in terms of participation, sales and revenue.

NFT games do not necessarily mean that they’re just adding to the crowd, as they’re unique in their own right. They copy a genre or niche, such as collectible card game or a monster breeding game but with the exception that in-game items are assets and can be bought or sold for real money.

More exposure and attention is always good for an industry, and gaming is no different. When people are sitting up and taking notice of NFTs and its gamification then it could mean a healthy and thriving economy.

Gives Players More Money-Making Opportunities

Gaming is no longer tied to just enjoyment and relaxation alone- nowadays people can earn a living playing games and engaging in the hobby they love.

Other than competing in a tournament, players can earn money by streaming, blogging and selling their items to people who want or need them. NFT games add to this by introducing in-game tokens that are worth real money.

While GameFi platforms require a capital, you can recoup it because they usually revolve around a ‘play to earn’ mechanic. It can either be a side hustle or something you do for a few hours a day, or it could be a full-time endeavor.

Greater Diversity

Diversity is always good since the more options users have the more interesting it gets.

In the gaming world, people are usually looking for the next big thing, and for now it seems to be NFT games. Within the niche, there are already half a dozen entries that are quickly becoming popular- developers will sit up, take notice and try to have their own NFTs to achieve a goal.

So if you’re tired of playing online games you can take a break and get into an NFT game. It’s a system that rewards players and keeps them coming back for more.

Back to top button