GameFi or game finance are blockchain projects that allow users to earn money through gameplay. The model combines game mechanics, elements of decentralized finance (DeFi), non-fungible tokens (NFT), and metauniverses. According to data for 2021, GameFi tokens turned out to be growth leaders, among them projects Gala Games (GALA), Decentraland (MANA ), The Sandbox (SAND) and Axie Infinity (AXS).
The concept involves maintaining ownership of digital items in the form of NFTs. Data about the owner of game artifacts is fixed in the blockchain. Information cannot be replaced or deleted.
In addition, users receive rewards for playing in project tokens. The player can sell tokenized rewards, as well as exchange them for another cryptocurrency or fiat money on the marketplaces.
GameFi provides a wide variety of genres, from the classic lottery to complex multiplayer multiverses. The blockchain game development company Gala Games aims to create a coherent ecosystem with a single economy for different game genres in the future.
There are specialized blockchain platforms adapted for GameFi, such as Flow from the creators of CryptoKitties. Many games have been released on the Tron, BNB Chain, Wax and Polygon blockchains. For example, the recently sensational sunflower acts on the polygon network.
MetaMask is a crypto wallet and a doorway to blockchain applications. It’s available as an extension on Chrome, Brave, App Store, and Google Play Store.
With a crypto wallet, you can interact with apps like Uniswap and Axie Infinity. In addition, it lets you connect to blockchain apps securely. If you want to buy Axies, you will need a MetaMask wallet to hold your Ethereum.
On the second hand, if you want to swap Ethereum for an in-game token, you’ll need to connect your wallet on MetaMask to Uniswap. The wallet provides you with complete control when you’re linking on the decentralized web. And in this guide, you’ll know how to set up a blockchain wallet to interact with blockchain applications.
For my part, I want to say that I would like to see such a large project, as an investor in new games, and possibly as a founder. This will also attract new users and increase the loyalty of existing ones.