The gaming industry has known a significant growth in the entertainment sector especially in the wake of the pandemic era, where most people were made to sit at home and others working from home, a lot other lost their jobs and one of the ways to avoid depression was to embrace gaming. This led more people to the Gamefi.
What is the Gamefi
GameFi literally means game finance and is a combination of Defi, NFT, and Gaming, the concept of gamefi was first proposed by the chief strategy officer of MixMarvel, Mary Ma during the her speech at the Whuzen summit at the second half of 2019. It refers to the presentation of decentralized financial products in the form of games, gamification of DeFi rules and NFT of game item derivatives. It gained dominance over the traditional gaming with the introduction of the Play to Earn (P2E) gaming model
The Play to Earn model was born with the popularity of Axie Infinity which allowed gamers to Earn digital assets known NFTs which can be exchanged for real money. The Play To Earn model for linked games is an important shift in the gaming world, as traditional in-game asset transactions are confined To the game ecosystem, this means that players have to trade or sell their digital assets within the platform.
This model made the Gamefi and generally the gaming industry to witness a steady growth pattern with almost 3 billion gamers globally.
Challenges facing game developers
This development opened up a new opportunity for gamers who had time to play games to Earn from doing so, but further more game developers also had an opportunity to publish games that were going to be widely accepted and profitable especially if they were highly playable.
However this was not the case, as most early projects didn’t offer game developers the model to sustain their games and a large number of users remain concentrated in just a few leading Gamefi projects. Other emerging projects could only gain short-term users by seducing them through the promise of high returns. This model was unhealthy for the sustainability of these projects. This is where GamefiProtocol steps in.
What is the Gamefi Protocol
GameFi Protocol is the first GameFi aggregation protocol, and is committed to becoming the leading GameFi aggregation and trading platform. The platform provides users with better games and game manufacturers with more technology, users and financial support for the game industry.
How does gamefi protocol help game developers
GameFi Protocol operates according to its whitepaper on four major features in addition to other supplementary features. These features include; the GSwap, the Gamelist, the GNFT and GLaunch, more on these features can be seen on gamefi-protocol.gitbook.io. Of these features, the Gamelist is one that allows Users to play different GameFi projects in the Gamelist on the F2P2E gaming model, because users can directly participate with the GFIs they get from GSwap.
Furthermore, the GameFi Protocol encourages outstanding GameFi teams to launch GameFi projects with high playability and reasonable tokenomics on Gamelist and decides whether to put them online through GDAO (Decentralized self-regulatory organization) voting. With all this factors considered, game developers can launch their games on the platform that provides a full range of services to partnered game developers on blockchain technology, the NFTization of game assets, tokenomics, community promotion, game promotion and compliance services. Infact it provides game developers with a platform with enduring vitality.
The Gamefi protocol model an important model for the gamefi Ecosystem as a whole as it would provide a sustainable growth pattern by accelerating the development of gamefi projects as well as diversifying gamers interest and user concentration within the Ecosystem. This will be highly beneficial to both gamers and game developers in the long run.
To find out more about GameFi Protocol visit
TG Global Group: https://t.me/GamefiProtocol