The rise of GameFi
The Pandemic era saw a lot of gamers switch from the traditional gaming to a more rewarding gaming economy, this was made possible by a model called "Gamefi", facilitated by the gaming guilds, a gaming community that allows for the play to earn (P2E) model to be implemented in gaming. The Play to Earn model allows gamers to turn their gaming time into profitable ventures.
The GameFi which is an acronym for the word Game Finance, gained more dominance in the pandemic era with the rise of games like the Axie Infinity, as more gamers found a way of investing all their new free times in playing games that could fetch them rewards. It was able to achieve the reward system by taking advantage of the growth in the NFT market in the crypto ecosystem, it inculcated the NFT feature which had asset values in the Game and was used to rewards players as In-game assets and can be sold for monetary value.
However, with the growth of the game the average cost of entry to play Axie Infinity, starts from a minimum of $1000, to buy the digital pets. This requirement creates a significant barrier to overcome for those who do not have the financial liberty to access the game.
How GameFi Protocol steps in
To address this challenges even as more opportunities are opened for the industry, the Protocol Gamefi Protocol introduced a more favourable and advanced model for the GameFi industries. This model is referred to as the Free to Play to Earn (F2P2E) Model, it is a more social model which allows everyone to play and earn with as low as free.
The gaming feature of the GameFi Protocol is to be released through one of its many amazing products known as the GameList ; The Gamelist is a unique feature of GameFi Protocol which encourages high-performing GameFi teams to develop playable online GameFi projects with reasonable tokenomics on Gamelist. Users can vote on whether to launch these projects through GDAO (a decentralized autonomous organization).
As a result, users can play different GameFi projects in GameList to make money, whilst enjoying the fun of the game. The various NFTs available in these GameFi projects not only have value in the game, but also can be applied to a variety of NFT-DeFi projects through GNFT, including NFT stake mining, transaction mining, etc. The details are elaborated in GNFT (https://gamefi.ai/nft).
The emergence of GameFi Protocol provides a new possibility for the development of Gamefi ecosystem-platform mode. In terms of operation, GameFi Protocol is more like the way of Steam operation. Users can participate in any games through the platform, and game developers can also launch their own games through the GameFi Protocol. Different from the traditional Gamefi operation, GameFi Protocol emphasizes on the phenomenon-level games with high playability, and provides cooperative game developers with blockchain technology, game asset NFTization, tokenomic model, community promotion, All-round services such as game launches and compliance services.
In short, through GameFi Protocol, game developers enjoy "one-stop launch game service", users can also span from one game to another without barriers, and even participate in several games at the same time. For users, they only need to enter the GameFi Protocol to experience a large number of games. For game developers, it solves a number of issues such as technology, products, operations, traffic, etc. It can be achieved through the function of GameFi Protocol. In addition, GameFi Protocol’s unique review mechanism also reduces the risk of users participating in bad Gamefi. GameFi Protocol’s “one-stop launch game service” greatly reduces the project’s startup risk and provides game developers with a lasting vitality window.
Stay connected with GameFi Protocol
TG Global Group: https://t.me/GamefiProtocol