What is a GameFi?

GameFi is a combination of the words “Game” and Finance”.

What is a GameFi?

GameFi is a combination of the words “Game” and Finance”. It usually refers to the experience of gaming in/and decentralized finance. GameFi commonly has a play-to-earn attribute offering incentives to players. Thus being a game that people can enjoy, it potentially can increase players’ wealth with both luck and strategies involved.

Since there are money and transactions involved in GameFi, It utilizes blockchain technology to make it safe and transparent to players in the community so every transaction or action is logged and cannot be interfered with by any party once it’s registered.

How do I buy GameFi tokens or join the GameFi trend?

People can easily follow the trend and latest news of GameFi directly via its official telegram, Facebook, or even on the webpage. However, please be aware of unofficial sources which are usually a scam. So, always double-check the official contract address of the tokens before purchasing.

GameFi tokens are available for people once the IPO has been issued. Swapping the Gamefi’s tokens successfully usually requires paired tokens announced in the official sources. Players then can utilize the token purchased upon connecting their wallets to the game platform on the game’s official webpage or application.

Why is GameFi crypto's a hot new thing?

GameFi is becoming widely popular in the crypto world. Despite having a play-to-earn attribute, many GameFis also offer comfortable gaming experiences to players. There are many types of GameFi including “Metaverse GameFi” and “NFT GameFi” giving extraordinary gaming experiences in each type.

There are also numerous GameFi in the crypto world. With no exact number since there are new GameFis being introduced in many chains every day, it has a market cap of roughly US $50 billion as of February 2022 and is still growing despite facing the COVID19 crisis worldwide.