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What is GameFi?

Started by Buran, Jun 29, 2023, 09:01 PM

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Buran

GameFi, also referred to as chain swim, what is chain swim? The full name of the chain game is called (blockchain game), also called gamefi, is not a newly created concept, in the second half of 2019, Mix Marvel Chief Strategy Officer Mary Ma first proposed gamefi, that is, Game Finance, gamified finance in a speech at the Wuzhen summit. In a nutshell, GameFi refers to the presentation of decentralized financial products in a game way, the game with rules of DeFi and the NFT of game props derivatives. One of the most significant features is that the user's assets become equipment or tools in the DeFi game, and in turn, the user can earn rewards in the process of participating in the game.
Chain game is a form of game based on blockchain technology, which uses the features of blockchain such as decentralization, immutability and transparency to provide players with a fairer, safer and more transparent game environment. In the chain game, players can earn money by holding tokens or participating in game mining, and can freely trade and transfer game assets. At the same time, blockchain can also automate management and operations through smart contracts, reducing the possibility of human intervention and cheating.
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xxxlll789

Quote from: Buran on Jun 29, 2023, 09:01 PMGameFi, also referred to as chain swim, what is chain swim? The full name of the chain game is called (blockchain game), also called gamefi, is not a newly created concept, in the second half of 2019, Mix Marvel Chief Strategy Officer Mary Ma first proposed gamefi, that is, Game Finance, gamified finance in a speech at the Wuzhen summit. In a nutshell, GameFi refers to the presentation of decentralized financial products in a game way, the game with rules of DeFi and the NFT of game props derivatives. One of the most significant features is that the user's assets become equipment or tools in the DeFi game, and in turn, the user can earn rewards in the process of participating in the game.
Chain game is a form of game based on blockchain technology, which uses the features of blockchain such as decentralization, immutability and transparency to provide players with a fairer, safer and more transparent game environment. In the chain game, players can earn money by holding tokens or participating in game mining, and can freely trade and transfer game assets. At the same time, blockchain can also automate management and operations through smart contracts, reducing the possibility of human intervention and cheating.
GameFi is a virtual game in daily life, and its greatest advantage is to ensure full control of personal asset ownership. Even if the site is down. Assets will not be lost, and investment data and assets can be found at any time!

wwwqqq

Gamefi refers to blockchain games that provide players with financial incentives to earn while playing. Players can often earn cryptocurrency and NFT rewards by completing quests, playing against other players, and clearing upgrades.
Unlike traditional video games, in most blockchain games, players can transfer in-game items out of the game's virtual world. Players can buy and sell items in the NFT market, and use the earned cryptocurrency to trade on the cryptocurrency exchange platform.

Lotnok

GameFi is a combination of the terms gaming and decentralized finance (DeFi) and describes the integration of blockchain applications in the gaming sector for monetization purposes, among other things. Smaller publishers in particular use the possibility of monetizing their games by issuing tokens

john140

GameFi, short for Game Finance, blends gaming and decentralized finance. It involves blockchain-based games where players can earn real-world value through in-game activities. GameFi often uses cryptocurrency and non-fungible tokens (NFTs) to enable players to own, trade, and monetize their in-game assets, creating a new dimension of play-to-earn gaming.

Ht88888

GameFi is a product that combines the concepts of games and DeFi (decentralized finance). It refers to a new blockchain game model that integrates game elements and decentralized financial mechanisms.

In GameFi, gamers can earn money by participating in games, which may include earning cryptocurrency by playing games, collecting in-game digital assets and using them in DeFi projects to earn interest, or participating in other financial activities. At the same time, GameFi can also provide an in-game economic system that allows players to purchase and trade virtual assets in the game, and may connect these assets with other DeFi projects.

In this model, the game itself is not only entertainment, but also a platform for earning income or investment. The rise of GameFi has attracted many people to participate, both gamers and DeFi investors, because it combines gaming entertainment and financial potential to provide multiple benefits to participants.

The development of GameFi has promoted the innovation of blockchain games to a certain extent and introduced more economic concepts in the gaming industry. However, investors and players need to understand the risks, including market fluctuations, project risks, etc., before participating in GameFi, and carefully evaluate participating projects.