How To Earn Money For Playing In Metaverses Or Digital Games.

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GameFi or Game Finance is a new concept in the cryptocurrency industry that combines the Decentralized Finance (Defy) ecosystem, blockchain games, NFTs and even DAOs. Game Finance is revolutionizing the gaming industry around the world by allowing gamers to make money while playing games and interacting with other users. NFTs are at the heart of GameFi, enabling users to retain ownership and monetize digital assets they create or purchase in-game.

What is GameFi?

The combination of gambling and finance is becoming a global trend in the crypto and digital gambling industry. The digital gaming industry has evolved over time. Since the invention of the first video game in the 1950s, its quality, theme, graphics and sound have changed dramatically. So far, the industry has grown and evolved under a model that receives few awards for the games players play. As the gaming industry connects to blockchain technology, it’s a reality that’s starting to change.

From play to victory from play to victory

The traditional digital gaming industry is dominated by a “play to win” model where players who want to gain an edge over their competitors have to pay for that advantage. GameFi is equipped with a new game mechanic “Play to earn” that was popular with Axie Infinity. The game paved the way for a new open and digital economy built by the players themselves.

Playing the Play to win mechanic takes time, strategy, and skill, but players get real value for effort, time, and knowledge. For reference, Axie Infinity generated over $ 3.8 billion in sales through NFTs in 2021. According to DappRadar data, blockchain games have achieved over 11 million sales from 1.4 million users.

Metadata store

Axie Infinity is just one of the most popular blockchain games. Other players such as Splinter lands, Alien Worlds and Samnium Space can also make money on the platform. It either contributed to the game or changed the contained objects and digital items to NFT. Decentraland and The Sandbox are also one of the most popular value-added digital metaverse NFT game. The value of native tokens has skyrocketed since Facebook changed its name to Meta.

Blockchain technology is demonstrating the power to transform the digital gaming industry and shape a new future. In traditional industries, it is usually the company or game developer who designs, manufactures, and controls the game according to the vision. Conversely, blockchain allows players to participate in decisions about the game they play. Axie Infinity has a governance token called AXS that allows owners to vote for game development and the future.

Limit

Despite the potential of this new trend in the gaming industry, blockchain game developers are still on the road. Not all blockchain games that allow monetization are attractive to players. Some do not have a flashy theme, while others have fairly easy-to-understand graphics and designs. Also, access to some of these digital games, especially the most popular games like Axie Infinity, has become inaccessible to many players. To play Axie, you need a team of three creatures called Axie. The price of this creature ranges from $ 140 to $ 460 depending on the game market. However, there are alternatives and companies, such as Yield Guild Games and Binance that offer “not easily available” scholarships to those who want to attend.