GameFi is one of the hottest new trends to emerge from the crypto industry, combining decentralized finance and non-fungible tokens with blockhain based online game .
Unlike many traditional online games, which operate on a “pay-to-win” model and allow players to purchase upgrades in order to gain an advantage over others, GameFi introduces a “play to earn ” model. This concept involves giving players financial incentives to play and progress through games. In some cases, this has allowed gamers to earn a full time incone
How it works
All objects in these types of games are expressed as NFTs – digital tokens used to prove ownership of scarce intangible items. Think of things like plots of land, avatars, costumes, weapons and gold bars. Once players find and accrue these items through gameplay, many have the option to trade these with others in digital markrts place for different NFTs, or sell them in exchange for cryptocurrency.
Depending on which game is played, users can increase their earning potential by dedicating time leveling-up and improving their characters, creating monetized structures on their land that other gamers pay to use or by competing against others in tournaments.
- In order to keep track of what every player owns, all NFTs and cryptocurrency transaction data are stored on a public blockchain. This is a type of technology maintained by a global network of computers. Leveraging this technology in gaming provides a number of Distributed ,digital,record-keeping
benefits, including:
- Players can easily prove ownership of their in-game items. There is no single point of failure, meaning players will no longer be at risk of Losing track of what they own
- if the underlying gaming company experiences technical issues. Items accrued during gameplay cannot be counterfeited, removed or destroyed.
- Game-native cryptocurrencies can be sent and received without the need for intermediary settlement, clearing or custody.
Some games also include DeFi elements such as staking , where players can lock away certain tokens in order to earn annual interest and other rewards they can save to purchase other in-game items or unlock new content.
What you need to play
In order to take part in any these play-to-earn games, users will need to do the following:
- Create a cryptocurrency wallet:To store their virtual currency and NFTs, and make in-game transactions. Which wallet you need will depend on which blockchain the game was built upon. For example, MetaMask – an Ethereum-based crypto wallet service – will work with any GameFi game built on Ethereum.
- Purchase starter items: All GameFi games are free to download. However, many require players to first purchase characters, native crypto tokens, decks of cards or upgrades in order to begin.
- Pre-funded crypto wallet:You will need to pre-fund your crypto wallet with a particular cryptocurrency in order to purchase starter items and proceed. , for example, cryptoblades requires users to download Metamask , purchase Binance coin (BNB) and exchange it for the game’s native cryptocurrency, SKILL.
Top GameFi games right now
For players looking to get involved in these blockchain-based games and start earning cryptocurrency and NFTs, here is a breakdown of some of the leading games currently available.
Alien Worlds
In this game, players join an alien universe consisting of several planets where they must fight for scarce resources and mine the game’s native cryptocurrency, trillium (TLM). Players can also battle each other, go on quests and earn additional income by renting out their land to others.
CryptoBlades
Crypto Blades is a web-based role playing game that emulates traditional games like Skyrim or Dark Souls. Players can battle monsters or complete in-game raids to earn SKILL tokens. To help with battles, players can craft weapons to build an advantage over their opponents or boost their power. These items can then be traded in an open marketplace.
The gameplay itself is straightforward. There are four main components – fire, earth, lightning and water – allocated to each character, weapon, attribute and enemy. Each component will have its strengths and weaknesses, which players must then utilize and build strategies to beat their opponents.
Axie Infinity
A Pokemon-inspired universe where you can buy, take care of, breed and trade digital monsters called “Axie.” Axie Infinity runs off its own specifically built sidechain so that it can optimize gameplay and scale effectively.
The game has a high earning potential but requires high involvement to breed, care for and trade rare or unique Axies. These monsters can battle each other to earn SLP tokens or be sent on quests for resource farming.
FAIRY CAT
Fairy Cat gamefi fairycat .net is a virtual pet blockchain game Play to earn. The Fairy Cat Blockchain Game offers players and investors a very unique opportunity to collect, trade, battle and earn rare assets that greatly increase their income. Fairy Cats and all other in-game items will be stored as NFTs with a 1:1 equivalent of USDT in the player’s wallet and thus can be sold for profit and freely traded.
F-Cat game is a sub-project of the “Save every cat in the world” project initiated by Japanese cat lover Rock. It is developed by Kia Game Studio team. A kind of blockchain game.
In F-Cat, you can let your elven cats find treasures for you. These treasures will become your assets in F-Cat game . Your assets can be converted to dollars at any time. Withdraw your assets, we hope your proceeds in the game can be used to save the stray cats or other stray pets around you, treat every pet around you sincerely!
All proceeds from this project will be used to save stray cats on the street, buy cat food and provide cat nests for them, under the supervision of players
The sacred tree, the home of the elven cats
On a small hill in the Elven kingdom, there is a sacred oak tree called the Divine Tree, a giant tree with nine roots that connects the nine worlds of the universe. One goes to the Land of Fire, one to the Land of Fog, one to the Land of the Gods of Warner, and one to the Land of the Gods of Assa. There is also the Land of the Light Elves, the Land of the Dark Elves, the World of the Dwarves, the Land of the Giants, and the Land of the Dead. The land of the gods of Assa is connected to the human world by a rainbow of fire.
The sacred trees are guarded by elven cats, and each green tree canopy becomes the home of an elven cat.