What Is GameFi?

GameFi is an economic system implemented in games, standing on a blockchain, an example of its application is the Play-to-Earn feature.

3 Minute Understanding

In contrast to traditional games, where users play to win, the GameFi project adopts a Play-to-Earn model. The term has been widely used to refer to embedded video games with elements of decentralized finance backed by blockchain.

Unlike traditional game development, which is centralized, GameFi projects may involve users in decision making. Some games allow players to decide on future game updates by granting stakeholder voting rights to GameFi DAO (Decentralized Autonomous Organization) members.

The GameFi project leverages the popularity of video games, combined with the unique features of cryptocurrencies to make it an attractive space.