GameFi 101 and Why I think GameFi is the Future of Gaming
If Bitcoin is the new gold, a GameFi/P2E token may be the next Apple or Amazon.
While traditional gaming is typically based on a “play-2-win” or pay for everything model, GameFi, on the other hand, flips this model on its head and employs a “play-to-earn” (P2E) model. The idea of GameFi is self-explanatory — play and earn financial incentives for game progression. How is this even possible?
GameFi is a perfect example of when traditional games meet blockchain. It combines the old-fashioned thrill of winning prizes combined with new crypto developments in what is known as DeFi and NFTs. Players have access to new opportunities on GameFi and the possibility of owning “stuff” inside the games. They can trade, lend, rent, or borrow against their winnings. This, of course, can not be done on Asphalt, GTA, Eve Online, or Fortnite. What if I tell you that this may be about to change?
A Brief History of Video Games
From the origin of the Tennis for Two game by William Higinbotham and his group at the Brookhaven National Laboratory to the infamous Call of Duty or the FIFA 22 created by Electronic Arts, games have an important role in the lives of 2.5 billion people. They allow people to have a sense of achievement, enjoyment, creativity, socialization, stress…
