The game industry and our beloved blockchain first collided a couple of years ago. In both areas, very big money is spinning, as well as a huge number of users. After the explosion of DeFi in 2020 and NFT in the first half of 2021, a new phase is coming where these fields are coming together.
GameFi is a short spelling of the phrase “Finance game”, which, translated into Russian, will sound like a financial game. Already from the name it is clear that the gameplay is tied around the use of real currency and involves in-game financial transactions. GameFi games are based on cryptocurrency. It is she who acts as a game currency that allows you to make purchases during the gameplay.
Why have these games become popular now? This phenomenon is due to a surge in the popularity of cryptocurrency. Following this, the NFT environment received active development, and it is already inextricably linked with GameFi projects. NFT is a non-fungible token or, to put it simply, a unique token that cannot be exchanged for another similar token. The growing popularity of the technology has led to the creation of unique works of art in the blockchain environment that can be purchased for an electronic coin. NFT and GameFi are connected by the fact that the first technology is actively used in crypto games. All in-game items that can be bought and sold are based on non-fungible token technology.
Another frequently asked question concerns the security of crypto games. People do not understand why such entertainment is worth something and how you can make money on it. This question has been answered above. All in-game transactions are carried out through cryptocurrency. The profit that players can receive depends on the current rate, so it’s hard to talk about fixed amounts.
The gameplay in blockchain games is not yet characterized by a fascinating story or a breakthrough interface, but the developers are trying to work in this direction. It is mainly built around breeding pets or growing crops, which later leads to profit.
Summing up the above, we can briefly reveal the main advantages and disadvantages of GameFi games. The advantages include:
– the possibility of real earnings in the cryptoindustry;
– the ability to make deals with your own NFTs within the game;
– a good environment for newbies to get acquainted with the crypt.
Users call the main drawback the low quality of the games, as well as the weak plot and content. And yes, most of the games in this area pay more attention to the financial part, which leads to dissatisfaction from the players.
But we don’t have such problems. One of the main principles of iDos Games is GAME – FIRST, CRYPTO – LATER . See for yourself, google play to the rescue!