GameFi (or Play-to-earn, P2E) allows players to earn a lot of money in some countries. For example, in Indonesia gamer's income is much more than the average wage in the country. But in richer countries, the reward is below this indicator. The reward is given for the sale of your characters, their things or the extraction of a specific resource that can be exchanged for cryptocurrency.
Large gaming corporations such EA Games and Ubisoft show interest in GameFi. Now they are testing the use of NFT in the games. It’s a digital signature that gives the right to own a gamer's thing (fragment of cloth, weapon, or equipment). Some NFT cost more than 10 000 dollars. But government regulators think that NFT belongs to gambling. That means the corporation must receive a special license and abandon children playing in their games.
- Item tokenization. When creating characters and selling various weapons, artifacts, or real estate, gamers can earn large amounts of money;
- NFTs are great investments. The value of properties bought cheaply can skyrocket just in a few months;
- The games are good for newbies who are not familiar with the crypto market processes;
- A wide selection of online games tailored to every taste, featuring a variety of storylines, game worlds, and mechanics;
- Minimal action is required from the player. The gamer does not have to memorize key combinations; he only needs to press one button on the screen.
The main problem of all GameFi projects is the low level of attracting money into games. Usually, the basic economics of projects attract money from players and redistribute it between the best players. It doesn't allow the scale game and overtime fewer gamers continue playing.
Another problem is lack of legal regulation. In some countries regulators think that GameFi is a gambling. So in South Korea, government, known for its rather loyal attitude to cryptocurrency assets, has taken measures to restrict the release of games in the Game-Fi sphere. It also demanded the removal of existing games from the Google Play and Apple App Stores.
- Decenterland
- Axie Infinity
- The Sandbox
- Gala
- Wax
- DeFi Kingdoms
- Radio Caca
- Illuvium
- Smooth Love Potion
- Mobox
