GameFi in 2023: Less Fi, More Game

2023年的GameFi：减少金融，增加游戏。

GameFi trong năm 2023: Ít Fi Hơn, Nhiều Game Hơn.

يركز مجال GameFi في عام 2023 على الألعاب أكثر من Fi

<p>GameFi is an emerging market segment within the DeFi ecosystem that combines blockchain technology with games to enhance user engagement and incentivize participation. GameFi projects often aim to create a more immersive and rewarding experience for players, while also offering new revenue streams for game developers and investors.</p>
<p>At the core of the GameFi ecosystem is the play-to-earn (P2E) business model, which provides gamers with tangible rewards for their time and effort. These rewards often come in the form of in-game assets (NFTs) and native tokens that hold real-world value and can be traded, sold, or utilized on open markets.</p>
<p>Certain GameFi platforms offer developers and investors the chance to earn a portion of transaction fees generated when players trade, sell, or stake their digital assets within the GameFi ecosystem. This revenue-sharing mechanism incentivizes ongoing participation and fosters the growth of the ecosystem as a whole.</p>
<p>Of course in traditional games, users can also acquire special in-game items by either investing time and building up skills, or spending fiat cash to level up instantly. But the key difference is that players do not fully own these digital items. There is no way to prove digital ownership, transfer assets between wallets, or trade them on open markets. In GameFi projects, users ultimately own content as in-game NFTs. This concept aims to provide equal access to the means of production, in-game economics, and verifiable ownership of digital assets - in line with the core tenets of the Web3 movement.</p>
<p>As such, GameFi has gained significant attention within the crypto space, with industry experts predicting it to become one of the largest sectors in the crypto market. Analysts <u><a href="https://www.businessresearchinsights.com/market-reports/gamefi-market-102420">anticipate</a></u> that by 2028, the GameFi sector could be valued at $38 billion.</p><h2><strong>How does GameFi work?</strong></h2>
<p>Smart contracts, self-executing agreements powered by blockchain technology, play a vital role in GameFi platforms. These contracts enable the automation of specific actions within the games, triggered by predefined conditions. The flexibility and programmability of smart contracts allow for the creation of unique and innovative GameFi experiences.</p>
<p>In terms of popular GameFi activities, players engage in various play-to-earn gaming experiences both online and within metaverse applications:</p><ol><li>Creating and selling virtual assets: Gamers can design and create unique in-game items, such as digital pets or virtual real estate, and sell them to other players in exchange for digital assets. Developers with strong design skills can potentially earn substantial profits by creating highly sought-after in-game items.</li><li>Trading: GameFi platforms enable gamers to trade in-game virtual assets with other players. This activity appeals to players interested in collecting rare or unique virtual items, fostering an active and vibrant secondary market.</li><li>Staking: Some GameFi platforms offer players the ability to stake their digital assets. By doing so, players can participate in a game's governance or engage in specific in-game activities. Staking provides players with an opportunity to earn passive income while also contributing to the development and growth of the game or metaverse.</li></ol><h2><strong>GameFi is still evolving - and that’s a good thing</strong></h2>
<p>Early GameFi projects promised that everyone could earn a living through game economies, inadvertently setting itself up for disaster. Why? Well, the vision is great for early participants as it involves game assets appreciating in value, but this approach also severely impedes game growth. If the in-game assets increase in value exponentially at some point, then new joiners could feel they are ‘too late’ to enter the game. That doesn’t exist in traditional games. It’s never too late to become a Tetris fanatic.</p>
<p>Capping player base growth limits revenue generation, leading to an unsustainable reliance on inflationary token distribution. When liquidity for the token diminishes among the capped player base, the game economy collapses.</p>
<p>In fact, the terms "play to earn" and "GameFi" themselves suggest an unsustainable mindset, with players solely focused on earning profits. This attracts an audience looking to extract value from the game ecosystem rather than contributing to it. To propel the GameFi sector forward, developers must evolve and resonate with gamers who are willing to spend money for pure entertainment.</p>
<p>In essence, mindless financialization hollows out the game. Instead, the future of Gamefi is down a very obvious path: create games that are fun to play.</p>
<p>Alongside verifiable digital ownership, games rooted in Web3 technology can still provide monetary value to players by emphasizing activities like competitive tournaments with prize pools. This approach is more sustainable than simply enticing players with the prospect of earning a regular income stream from playing. By adopting this strategy, studios enable players to earn modest incomes without the significant risk of a game economy collapse, as exemplified by the experience of Axie Infinity.</p>
<p>Some of the new GameFi projects coming out in 2023 are taking the right approach by focusing on gameplay rather than the financial aspect.</p><h2><strong>Highly anticipated GameFi projects in 2023</strong></h2><h3><u><a href="https://elementalraiders.gamesforaliving.com/">Elemental Raiders</a></u></h3>
<p>Elemental Raiders is an eagerly anticipated game endorsed by Trip Hawkins, the founder of Electronic Arts. It is a free-to-play turn-based hero battler that combines elements from collectible card games and multiplayer RPGs. Players assemble a team of heroes and create a powerful deck of skills to take on raid bosses and engage in PvP battles. By defeating opponents, players earn rewards that can be traded in the marketplace.</p>
<p>Elemental Raiders offers next-generation NFT gaming and is available on various platforms, including Windows, Mac, Galaxy, and Steam. The game focuses on true ownership, allowing players to earn rewards and trade their in-game assets with other players.</p><figure><img src="https://blog-cms.maskex.com/assets/img/posts/1280X1280-7.PNG" data-image="2378"></figure><h3><u><a href="https://www.metalcore.gg/">MetalCore</a></u></h3>
<p>Along the lines of providing a great gaming first, and a financial component second, MetalCore is a new breed of GameFi project that looks like a real game.</p>
<p>It’s an NFT-based, open-world game centered around mechanized combat. Set on a mineral-rich alien planet, players engage in territorial battles alongside their chosen faction. The game offers a range of gameplay options, including fighting as infantry, piloting mechs, driving tanks or aircraft, and participating in both PvE and large-scale PvP encounters. Through missions, PvP matches, or PvE gameplay, players have the opportunity to earn in-game rewards. Alternatively, players can opt to become Barons, recruiting vassals to fight on their behalf and acquiring land for resource mining.</p>
<p>MetalCore allows players to own their game assets, fabricate new vehicles from blueprints, and engage in trading, lending, or selling of their crafted items. Additionally, players can collaborate with fellow faction members by renting or borrowing vehicles and mechs from Barons, sharing in the rewards of war together as they strive for planetary domination.</p><figure><img src="https://blog-cms.maskex.com/assets/img/posts/eb79b71f-30b6-47db-8a62-cadbdc9c6d08.png" data-image="2379"></figure><h3><u><a href="https://www.grit.gg/">Grit</a></u></h3>
<p>Grit is a wild west battle royale game that goes beyond typical gameplay. Players ride across town, collecting weapons to build the best poker hand and rise to infamy in the new frontier. The game offers in-depth systems, allowing players to customize their playstyle as a frontier-hardened survivor or a quick-draw gunslinger. They can acquire cowboy and gunslinger equipment, bond with their trusty steed, and collect weapon cards for special bonuses.</p>
<p>In Grit's realistic physics-based world, players must lead their shots and demonstrate accuracy for long-range engagements, requiring strategic thinking and a mix of shooting styles to succeed.</p><figure><img src="https://blog-cms.maskex.com/assets/img/posts/output.jpg" data-image="2380"></figure>

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