Play-To-Earn Economy: More Game Projects You Should HODL In Crypto Now 2.0🕹️
Hey Coin Collectors,
In the previous article: ‘Play-To-Earn Economy: The Next Best Thing to HODL In Crypto Now’, we shared how you can earn money from investing in the various types of crypto gaming projects on Coinstore. Previously we briefly introduced you guys to crypto games and shared their growth potential, with a feature section on NFT games. With the growing hype and trend of crypto gaming, many innovative projects are being launched with unique themes. (If you have not read our previous article, do head over to read now, so you have a clearer idea on what is crypto gaming)
In this article, we will be doing a more in-depth introduction into another type of blockchain gaming that is more niche as compared to regular crypto gaming. A new type of blockchain game introduced is GameFi — it combines decentralized finance (DeFi) features into the gaming functions.
GameFi — Crypto Gaming + Decentralized Finance
GameFi is gaining traction fast because they offer an alternative method to earn money from the game other than earning by winning game credits. They offer features of DeFi in the games, allowing players to stake in yield farming and other DeFi services — for example, players can collateralize their game assets to take loans or borrow an asset to stake in more in-game activity to yield more assets, creating new ways to earn. Players can earn passive income using the collectibles and other assets they have previously accumulated by staking them in liquidity pools
MOBOX Protocol is a new type of online game that combines yield farming DeFi with Gaming NFTs, providing gamers with a truly free-to-play and play-to-earn ecosystem. Being held on the Binance Smart Chain (BSC), the true potential of NFT interoperability is displayed by combining the different blockchains and platform functionality for NFTs.
MBOX is a multi-utility token that can be used for transactions processed on the NFT gaming platform, as a staking token for platform bonuses and incentives, and as a governance vote to determine resource allocation.
Enjin Coin is the native token of Enjin — a company that produces interconnected, blockchain-based gaming products. As an ERC-20 token, it can be used on Enjin to buy digital assets issued on its platform, giving the digital assets real-world value as it can be bought, sold and traded.
This works by storing ENJ in every asset minted on the Enjin Platform, which means ENJ is locked inside the NFTs and removed from circulation. With Enjin, it makes it easier for everyone to develop, trade, monetize, and market with blockchain.
Although there is a minor drop in the price of ENJ since it launched, we believe that this project will continue to thrive, given the current trend and interest in the GameFi sector.
More games you can download and play if you are into video games and DeFi for entertainment and leisure. Take this opportunity to earn some money while doing something you enjoy, and at the same time connect with like-minded people to expand your connections!
Stay-tuned for more recommendations and introductions to interesting, unique and new projects that are coming your way!
Sook / Coinstore Crypto Enthusiast
Any comments, tips, or projects to share with us? Just drop Sook an email at email@example.com. Look forward to hearing more from you guys 😉
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