In 2020, facing the huge impact of the new crown pneumonia epidemic and the complicated and severe domestic and foreign environment, China will still become the only major economy in the world to achieve positive economic growth. Under the environment of continuous epidemic, offline physical stores, restaurants, and entertainment activities seem to press the "pause button", while online industries and consumption are ushering in explosive growth. Until 2021, a novel conceptual term quickly became popular on the Internet and attracted widespread attention from the technology and investment circles: metaverse.
As an ecology that can carry all virtual activities, Metaverse has the characteristics of reliable asset value and identity authentication, so that people can socialize, entertain, educate, trade and other activities in its ecology. And to say that the most successful model among the popular sectors of Metaverse ecology is P2E (Play-to-Earn). It is precisely because of its success that GameFi has become the most concerned track at present.
What is GameFi?
From 2020 to 2021, the encryption market will continue to grow with innovation. From the innovation of DeFi to the emergence of NFT, GameFi is integrated , which is Game Finance, gamified finance. To put it simply, GameFi refers to the presentation of decentralized financial products in the form of games, the gamification of DeFi, and the NFT of derivatives produced during the game process. Most importantly, not only tokens have value, but all digital things that will be produced have value. And these values belong to the user's personal asset ownership, and users can also conduct self-transactions. That is to say, users can obtain benefits or rewards during their participation in the game.
P2E is currently the biggest highlight of the GameFi project, realizing the realization of wealth through games. The P2E mode has already appeared in the early days, such as popular online games: "Legend", "World of Warcraft", "Western Journey" and other games . Players can earn money by selling equipment offline. GameFi has joined this model and extended it. In the original P2E model, it cannot be traded directly in the game, and the extended P2E makes profits through NFT based on encrypted assets. This has greatly attracted players who are not interested in the blockchain.
The game can be divided into two modes, one is to buy tokens or NFT items before starting the game, and the other is to obtain props or NFT equipment directly from the things produced during the game, and then sell them to get them income.
Axie Infinity is the first mode, to start playing Axie Infinity you first need to buy 3 Axies. You can then choose to battle enemy monsters in Adventure Mode to level up your Axies, or battle other players' teams in the Arena and compete on the leaderboards.
Gods Unchained is the second mode where players start the game with 70 free cards, with more cards available through card packs. Players can earn card packs through competition, and can also spend money to buy additional card packs.
Therefore, some games require a certain threshold of funds, and you need to purchase some related things before you can start the game. If you consider the cost issue, you can pay attention to the second mode of the game.
From the data, user prices and users are on a downward trend. Although the project party strives to balance the game and making money, due to the continuous lengthening of the timeline, the popularity gradually dissipates, causing more and more players to lose. Judging from the upsurge that Axie Infinity has experienced, Axie Infinity once helped the Filipino people affected by the epidemic to obtain wealth through the form of the Goldsmithing Association, but now the daily income of players in the game is no longer below the local minimum wage level. When games that are mainly for entertainment become work, the original fun will be lost. This leads both developers and players to make money. The games developed by developers are of low interest, and players jump to high-yield projects. Players who really love the game will not be attracted. And if GameFi is no longer focused on Game, it loses its own meaning.
Looking at the current market, I think that for a person with gaming experience, most GameFi projects are not playable. This makes it less attractive to players with real game experience, but it is a tool for investors to make money. So far, the project party has been promoting the game overwhelmingly. Most of the publicity messages are that players can make money by playing games, rather than promoting the playability of this game. It allows players to pursue a game through heat, rather than being attracted by the gameplay of the game. As time goes on, the heat gradually dissipates, and players will pursue the next hot spot—just to make money.
However, I believe that there will be a lot of development space and innovation opportunities for GameFi in the future. I think the core of future chain games is to make money and have fun , so I am still full of expectations for what the future will eventually look like. The explosion of the metaverse concept and the increasing blockchain game market will have a certain impact on promoting the development of the encryption market. Can you get out of the inner circle and out of the outer circle, and blockchain games are a good way to get out of the circle.
The popularity of the blockchain game sector has not decreased but increased. BKEX Global, as a digital comprehensive service platform "dedicated to mining value for users", adheres to the concept of user first, innovative development, continues to pay attention to the development trend of the encryption market, and carefully selects high-level players. Value investment currency, try our best to give users a better experience, so that more users can embrace the encryption market and obtain the dividends brought by blockchain technology.