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The rise and development of GameFi
The GameFi industry started in 2013, but it has been developing slowly in the previous stage. In recent years, the epidemic, the prosperity of smartphones and blockchain have promoted the explosive growth of GameFi. GameFi literally consists of two parts, Game + Finance. GameFi can be interpreted as the financialization of games or gamified finance. It presents decentralized financial products in the form of games and gamifies the rules of Defi. The NFTization of game prop derivatives simply means that gamers earn cryptocurrency by playing games.
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The Development Status of GameFi: Prosperity and Chaos Coexist
After March 2021, some blockchain games based on the GameFi concept from Southeast Asia have successfully attracted a large number of followers. In just half a year, the number of GameFi concept blockchain games has rapidly increased from more than ten to 863. But the explosive growth of any industry will inevitably lead to mixed projects in this industry.
One of the biggest GameFi scams is the 2021 Squid based on the Squid Game show. This is an encrypted game consisting of six rounds. Users need to purchase tokens first to qualify for the game. The developer will receive 10% of the funds raised, and the game winner will receive 90%. However, at the time of the token launch, users found it impossible to sell purchased Squid. According to subsequent reports, the project party defrauded a total of 3.38 million US dollars.
For GameFi users, judging whether the project is formal can be measured by observing whether it has external revenue channels. A healthy GameFi project will have a complete internal and external circulation ecological mechanism, such as obtaining real external benefits through commercial cooperation such as brand co-branding.
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Play to Earn: Bringing GameFi back to its roots
GameFi, first and foremost, Game. The first feature of a game to attract users is that it is fun and easy to understand, and the second is to earn money. GameFi in the encryption community is almost always pursuing financialization excessively. Some teams will design the game very complex to achieve the purpose of retaining users, but the question is whether the game can perfectly connect the entire project ecology.
In the field of traditional games, game users have developed from stand-alone to multiplayer, and the mechanism has developed from simple to complex. It can be said that a hundred flowers bloom, but there are still many enduring classic small games, such as Snake, Tetris, etc. . If you use a substance as a metaphor, this classic small game is more like water, and it has developed into soda water, various carbonated fruit drinks, etc. on the basis of water. From a practical point of view, in countries with less sophisticated smart devices, the popularity of simple classic games will be higher.
AAX is a cryptocurrency exchange that has obtained an exemption license issued by the MAS of the Monetary Authority of Singapore and is waiting for the authority to approve its license application. It has long been ranked among the top 10 on multiple encrypted data platforms. Industry ecology, currently has a mature and complete blockchain ecosystem, providing GameFi, spot, contracts, wealth management, pledge and other comprehensive cryptocurrency services for more than 3 million registered users around the world.
AAX APP provides users with simple space flight mini-game rules and is friendly to novices. You only need to bet a certain amount (Place bet) and parachute before the rocket explodes (Cashou) to make a profit. AAX also organizes space flight training camps from time to time, providing free experience coupons for registered users. Users who meet the training camp requirements can also share a prize pool of up to tens of thousands of USDT. In the TG game group where users actively communicate, the AAX team will also provide Users conduct community airdrops.
In terms of blockchain technology, AAX is driven by London Stock Exchange technology, has top-level security performance and extremely fast transaction mode, and has been operating safely for nearly 4 years so far, and has never restricted user deposits and withdrawals.
write at the end
Before the industry matures, it will definitely go through market selection and precipitation. Users need to carefully choose safe and reliable projects and invest carefully. The exploration of the GameFi project party has also opened up more roads for the track, but it is necessary to treat user assets more carefully. Healthy investors and project parties are essential to GameFi. The big waves wash away the sand, and the prospects are bright. We look forward to the long-term prosperity of GameFi.
