GameFi is a cooperation of gaming and finance. Thanks to this combination, gamers can receive rewards while playing the game.
The GameFi market is steadily growing. Currently, it has a token market capitalization of $8.34 billion. GameFi continues to grow despite the crypto winter. The industry is projected to reach $74.2 billion by 2031.
GameFi ecosystems are based on blockchain technology and use various in-game tools to reward players.
Often such a tool is NFTs, which can be exchanged on the main trading platforms and exchanges for other cryptocurrencies and fiat.
NFTs are presented in the form of virtual lands, costumes and weapons and play an important role in the plot of the games.
The difference in game strategies and economic incentives makes each game unique.
One of the most popular GameFi models is the play-to-earn (P2E) model, designed to keep users interested by allowing them to receive rewards.
This allows players to enjoy the games without spending any money. However, to reach the upper levels, and to bypass competitors and rivals, sometimes an investment is required.
Popular blockchain gaming networks using the P2 GameFi model include Decentraland, The Sandbox, Axie Infinity and Gala.
Advantages of GameFi
Today, the industry