Until now, making money in games was largely a one-way street. However, the psychology of the game has changed. Players began to want to have a bigger role in the games they played. Now, they want to get paid for the time they spend online. Because of this, the GameFi space, which is the most talked about gaming and crypto space, has expanded. In this article, after talking about GameFi first, we will focus on GameFi coins that receive large investments. Here are the details…
GameFi space is expanding
cryptocoin.com “GameFi” refers to the financialization of video games. It is characterized by the “play to win” (P2E) model. Basically, it provides players with facilities as a standard consumer, while offering incentives to players with tokens. The term “GameFi” is a combination of the words “game” and “finance”. It was first used by Yearn Finance CEO Andre Cronje in his 2020 tweet. GameFi creates a virtual environment where players can join and get tokens. For this, it mixes Blockchain technology, NFTs and game mechanics.
Until recently, video games were hosted on centralized servers, giving developers and publishers rights to everything in their games. This meant that players had no real ownership or control over any of the digital elements that had accumulated over hours or years of gameplay. These items range from weapons and costumes (also known as “skins”) to avatars and virtual lands. Few of these are of any value outside of play.
But that’s not the case with GameFi projects. Players of these games can earn in-game rewards by completing missions and progressing through various game levels. Unlike traditional in-game currencies and items, these rewards have a measurable value outside of the gaming ecosystem. For example, tokens for game items or achievements issued in the form of an NFT can be traded on NFT marketplaces and crypto exchanges.
The future of GameFi
With an estimated 3.24 billion players worldwide, there is huge opportunity for growth in the burgeoning GameFi industry. In 2021 alone, investors poured more than $3.6 billion into crypto gaming startups, making 2021 a turning point for the burgeoning industry. For many industry commentators, the game represents the most likely path to widespread blockchain adoption.
Most recently invested GameFi coins
Since the beginning of 2022, GameFi projects have been receiving many investments. At the beginning of the companies that invest heavily in this field are companies such as a16z, Animoca Brands, Paradigm, Griffin Gaming Partners behind the popular game Axie Infinity. Two projects that currently have coins stand out in terms of the investment they receive.
Monkey League (MBS) with $24 million from Griffin Gaming Partners and 6 MVs, and Civitas (CIV) with $20 million from Delphi Digital and Bitkraft; Currently, it is one of the platforms that have coin projects and receive large investments.
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