GameFi is a phenomenon that has brought many opportunities to many people. Mixing the scarcity in gaming through the NFT, a new economy looms on the horizon. Helo Passos, Head and Founder at Sp4ce Games, set up and became the largest Axie Infinity community and, with that, many doors were opened. The story is no different for people who do not have so much financial resources, as they end up getting to know the blockchain and earn extra income from games, allowing an economic rise in their personal finances.
These changes in the structure of the economy end up being a rupture that replaces a previous model. In the past, in the gaming sector, the scarcity of games was related to media, which was very difficult to copy at the time. This impossibility opens up a secondary market for game trading between players. Over the years, this has changed. Games, now installed on a machine, could not be swapped. Again a shift takes place and also towards scarcity.
Now, together with blockchain technology and NFT, games create an even more exclusive market, giving an increase in the value of traded resources. Many of the “GameFi” are known for being linked to a cryptocurrency – which is usually the game’s reward. Hence arises the possibility of profiting from the games.
For players who only imagined taking money from games in championships, GameFi changed that concept a lot. The revolution is so big that countries have had an increase in their GDP thanks to play-to-earn games. In the Philippines, for example, an increase in the income of several families that adopted play-to-earn games is observable. Therefore, instead of a routine with specific training sessions and schedules to be a pro-player and, then, achieve profitability, now, as a casual player, it is possible to earn extra income from games.
Just like the cryptocurrency market itself, the GameFi sector saw its market being flooded by speculators who boosted the price of assets to unusual levels. This increase made the GameFi market adjust to new demands, causing new projects to emerge.
All these comments can be accessed in the Decentralized Debate on 07/31/2022
Warning: The text presented in this column does not necessarily reflect the opinion of CriptoFácil.
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