GameFi - The "Hyper carry" of DeFi trend
Not too long ago, when the DeFi sector was exploding, we could see every public blockchain trying to challenge Ethereum's dominance. However, after the game Axie Infinity became a success, users began to pay attention back to the game market with the Play To Earn trend. Now, after DeFi and CeFi, all eyes are on a new concept that is “GameFi”.
GameFi – a combination of Game and DeFi, is a variation of financial mechanisms where users can earn profits by playing games. Another popular term for this field is the Play to Earn model. On the surface, the keyword is “gaming,” but at its core, “finance” is what matters most to blockchain.
The GameFi craze changed the simple game system. By providing users with the opportunity to earn great rewards, gaming is no longer a waste of time and money, it is really about making money. The NFT summer of 2021 has turned into a GameFi summer, with a number of games taking crypto as a backdrop and token appreciation like a storm.
The GameFi environment offers endless opportunities for developers to create a new universe and world with their own hands – a space filled with creatures, events, objects, and even economies. economy in the game to attract a lot of players and make them unable to take their eyes off the game interface. Players are offered endless possibilities in generating income from in-game activities and engaging them with numerous gaming benefits. Exciting elements range from thrilling action and engaging graphics based on the original meme, to hidden tools for real money.
Hidden behind the simplicity and cuteness of the game's characters, many GameFi applications have indirectly introduced players to complex but simplified financial mechanisms when encapsulating everything in just one game.
That's all there is to it when it comes to GameFi, eliminating the boredom and replacing the complicated mechanics of earning money by playing games. Value is the fundamental concept of GameFi, where you can seamlessly “play” turn into “work” and “earn” seamlessly. Rewarding players with cryptocurrency with real value is also an unique idea to attract more and more people to join.
As NFTs turned into coveted items that could be used to lubricate the gears of a DeFi mechanism, they gained intrinsic value and began to attract more attention from collectors and collectors alike ardent fan. And as GameFi blurs the lines between games and finance, it seems that in-game economics is beginning to not only mimic, but even surpass, real-world economics. Over time, GameFi and DeFi could become one, as increasingly active traders buy and sell decentralized financial assets in virtual stores.
The explosion of the Play-to-Earn trend
Play to Earn is a form of gaming but it is possible to earn real money from NFT games published on the blockchain. Specifically, players will receive a benefit, a certain reward when playing or through collecting in-game items to exchange, buy and sell them. The value of the item depends on market factors such as applicability, scarcity, hotness, or even just FOMO.
There are two reasons why Play to Earn is booming as it is now:
- Using NFT technology as leverage for Play to Earn games
- True ownership
Some games reward gamers with cryptocurrency, while others allow players to collect NFTs and sell them for later profit. For traditional games, the host companies are the ones who hold all the control. Gamers make a lot of money from in-game transactions, but never actually own those items outright. In contrast, blockchain games are changing this. If you buy an NFT in-game item, you exclusively own them and have full rights to do things like buy, sell, give, give away… Many blockchain game projects are taking shape thanks to the NFT boom, signaling that this could be the new future of the gaming industry.
The NFT gaming space has been around for a long time with the launch of CryptoKitties in 2017. At that time, players could only buy or hatch eggs to hatch NFT cats. Then came the second generation of games, typically Axie Infinity and The God Unchained. At this point, players can bring their NFT items to battle with other players, making them more valuable.
The world is watching the hype of cryptocurrencies and NFTs, raising the question of what will happen in the next 12 months. However, the trend of Play to Earn and NFT games is expected to last until 2022. Investors can consider buying tokens on the exchange and then waiting for the price to go up or directly participating in the game to receive rewards, seek profits as through the in-game NFT buying and selling. And finally, involving in early will give you a lot of advantages because the scarcer the NFTs in the game, the more valuable they are, but as the players increase, the NFTs will become more and more scarce.
Metagods - the first Play-to-Earn RPG Game
You like RPG?
You want to bring back your childhood with 8-bit style game?
And the most important thing: You want to jump in the current Play-to-Earn trend in the crypto world?
If all three answers of yours are "Yes" - Just like me - Then Metagods is for you.
Metagods is the world’s first Play-To-Earn 8-bit Action RPG built on the blockchain. It allows players to trade and play with generative NFTs to vanquish dangerous monsters. Thrive in the biggest digital economy – and prepare for the most epic boss fight in the history of the metaverse.
The game will first mint generative NFTs for the community. These NFTs are not only player's avatar and PFP, but also their ingame character as well. For each character NFT generated, there are info about hero unique class and its base attributes. Also the equipments will be all NFTs, includes weapons, armors as well as other rare items.
Metagods has 2 modes, casual (stake and farm) and hardcore that enable players to earn in-game tokens in many different ways. But unlike other "too easy to play" games, Metagod is reported to have a Permadeath mechanic in hardcore mode. "Once you have used up all your lives, you will never be able to enter hard core mode again"
The game also has a lot of events and tournaments to be expected. The most interesting thing will be weekly special events with boss challenge in hardcore mode - with extremely high APY according to the teams - to incentivize cooperation among the community. Also, there will be tournaments and random airdrops for holidays and special occasions.
There will still be lots of information about this game but I think that is enough for the introduction. Let's move on to the next part, we will talk about the game in detail.