LBank Labs: Still a Rookie to GameFi? Don’t Miss the Following Wealth Codes
Author: Smile, Rachel
The whirlwind of Axie Infinity has been sweeping for months, stirring up interests and gaining attraction, while catapulting GameFi, a concept represented by it, to fame in becoming one of the most sought-after trends in the blockchain.
It even made to the mainstream. Bloomberg, an internationally-renowned media outlet wrote extensively about it in a long article which depicts a gloomy labor market overshadowed by the pandemic with people forced out of jobs, against this backdrop, however, some turned into crypto traders because of Axie Infinity which helped them make ends meet and even won surplus by playing the game.
The latest data of Axie Infinity shows a new revenue record in August, $364 million, an 85% increase compared with July’s $196 million, second only to Ethereum’s $670 million. Who would have thought a blockchain game could outstrip leading projects like OpenSea and Uniswap? The rise of Axie Infinity also leads to the rise of GameFi where with an influx of users and funds, a new boom is brewing.
What is GameFi?
GameFi was first proposed by Mary Ma, Chief Strategy Officer of MixMarvel on the concept of “Gamification in Business” at the 2019 world Internet Conference in Wuzhen. Literally, it can be construed as “gamification finance” under the combination of DeFi and NFT with an aim to present financial products in the form of games.
The endorsement of Andre Cronje and the concept of “play to earn” fueled GameFi’s meteoric rise to fame, with both players who make earnings while playing and collectors who seek after the practical value of its NFT satisfied. And new users can also be attracted via means like liquidity mining in GameFi, just like in DeFi.
What’s more, the GameFi series is promoted as games, easy to be accepted by the general public who by and large are no expert on either finance or blockchain, unequivocally lowering the bar to explore the novel field. In addition, it has another three main features:
1. Players have the right to govern by making decisions over the overall improvement and modification of the game.
2. GameFi games are decentralized, jointly operated by players and developers, and completely driven by the market.
3. players earn tokens, NFT, and other rewards while playing which can be sold in any blockchain market.
How about the development prospects of GameFi?
GameFi despite enjoying the market spotlight at the moment is not immune from controversy and doubts. Under the hype lies the unsolved limitation of blockchain games, playability. GameFi related projects so far have seen their values skyrocket, with investors only paying attention to earnings rather than polishing the games. If this were to continue, things would go downhill like the westering sun.
Some critics also called GameFi “a feeble rehash” based on a model that is very convenient to exit in the end. The collapse of the token price or the absence of new players could all be used as the exit reason. No wonder that some say the market is overhyped.
But these comments, after all, are facile and lopsided. Approached comprehensively, what GameFi ushers in is a mini meta-universe era with great potentials. New possibilities could be unlocked in meta-universe-based GameFi. As we all know, SpaceX started from scratch in building its supply chain, and that’s what GameFi is doing, establishing the entire eco-chain through its own operation.
But given the fact that it is still at an early stage, more disruptive innovation still needs to be taken onboard to tap new potential, and it bodes well for its future prospects.
What’s going on in the GameFi investment market?
Exchanges all rush to make layouts in GameFi as it leads the digital asset industry. Let’s take LBank as an example. It definitely rides the very forefront of this wave by being the first to launch many projects, so what wealth codes have LBank laid out in GameFi? Let’s find out!
- Cryptoblades (SKILL)
Cryptoblades, the bellwether in the series of “play to earn” games, spiked 40 times in a matter of 5 days. In the game, players win tokens by raiding and killing enemies and forge weapons and equipment with these tokens.
2. Fear (FEAR)
Fear is a blockchain game among a series of horror games developed by Whack it, a game company. Users obtain additional tokens by mining NFT and winning prizes in FEAR pools to activate various functions in the game.
3. Alchemy Toys (GAT)
There are two DAPPs in GAT, Alchemy Toys and Minted.vodka. Alchemy Toys mainly focuses on an NFT card game where cards are obtained through fusion (alchemy) and other methods to compete with other players to win, in order to claim the highest proportion of the prize in the prize pool. Minted.vodka is an NFT trading platform in GAT where traders place pending orders for their cards.
4. Yield Guild Games (YGG)
Yield Guild Games used to be a well-known NFT game guild and the largest game guild under Axie Infinity, the biggest Ethereum game. Now YGG has become an index fund for blockchain games.
5. Cryptozoon (ZOON)
Cryptozoon has a very simple game logic. Get the pets first and use them to fight for ZOON. It’s a good choice for players new to GameFi, especially when considering its risks and returns.
6. WallStreetBets (WSB)
It’s a blockchain game born in Wall Street with over 2000% increase in just 7 days. The number of independent wallets on WSB has exceeded 1.4 million, ranking very high among other blockchain games. But most of the investment comes from institutional funds instead of ordinary investors.
LBank Labs began its research on GameFi as early as May and indirectly invested in many projects including YGG through early fundraisings and other activities which paid back significantly with over one hundred times return. Meanwhile, its trading platform also seized the first opportunity to launch projects that managed to bring up to 20 times return to users. These projects were selected and launched with due deliberation and rigorous examination by the LBK Labs. It’s also reported that LBK Labs is still laying out investment in GameFi’s primary and secondary markets, and plays a better role in the establishment of the ecosystem through investment and online launches, which has won high praise from many projects.
Click here to download for iOS or Android
Find us on:
YouTube Channel: https://www.youtube.com/c/LBankExchange