New Era in Gaming: GameFi & Play-and-Earn

What is GameFi?
GameFi is a key trend in the blockchain industry and is expected to be a key driver in the digital economy. Combining “game” and “finance”, GameFi adds innovative financial elements to the traditional gaming business model. Games will not only be fun but lucrative.
An average gamer spends 369 hours per year playing and $13,244 annually on gaming content. That adds up to thousands of hours and dollars spent on playing games throughout one’s lifetime. Yet, gamers receive no return from the time, energy and investment in achieving new levels, unlocking new features, and buying in-game items. Those days will soon be behind us.
GameFi enables gamers to generate revenue from their gameplay. Through a mix of strategy, skill and time, gamers gain real monetary value from playing; hence, the term “Play-and-Earn.”
What is Play-and-Earn?
Play-and-Earn (P&E) encompasses the various ways users can earn tokens and NFTs which can convert to real monetary value:
  • Users receive tokens as rewards for accomplishing certain game objectives, such as completing challenges and quests, developing skills, participating in special events, and winning PvE or PvP matches.
  • Users can enter into PvP tournaments to win tokens, NFTs and other rewards.
  • Users can increase the value and monetize their ownership of in-game NFTs.
  • Users can generate returns from staking, yield farming or liquidity mining of game-related tokens.
P&E introduces an innovative and sustainable business model to video games. The gameplay is designed not only to be fun and engaging but also to allow gamers to earn tokens and NFTs that can be monetized based on their skills and time investment in the game.