Following the popularity of DeFi and NFTs, GameFi entered the show as blockchain’s next big thing. As per Google Trend data, the global search volume for “GameFi” has soared over 100% within five months, gaining traction not only within the blockchain community, but also in the gaming and finance world in general.
GameFi is a hybrid of blockchain gaming and DeFi, changing the gaming industry with “play-to-earn” models that differ from traditional “pay-to-win” models.
With traditional games you pay for an advantage in the game, such as equipment or powers. Play-to-earn games give players the promise of financial gain by giving them rewards that can be translated into real life assets, while delivering users a wide range of appealing activities.
The new generation of cryptocurrency advocates are young, and many are avid gamers. GameFi seems to be the logical next step of blockchain development. Users seize character cards and land in games in the form of NFTs. With everything stored on public blockchains, no more counterfeiting, or limited access to your own gaming assets. Blockchain makes ownership easy to prove and the transfer of assets restriction free. Parts of DeFi are also transferred to GameFi, such as staking. Users can store their tokens and gain an annual interest or secret rewards.
Improve your character while earning blockchain secured tokens that can’t be taken away by game creators. Sounds like it belongs in a sci-fi novel, but with the development of blockchain technology, it not only is achievable, it’s already reality.
LBank Established GameFi Fund
Recognizing the potential of this field, LBank is paving the way for GameFi projects by dedicating funds to their development.
LBank is one of the leading cryptocurrency exchange platforms that focuses on start-up cryptocurrency projects. Following the trend of DeFi and NFT, LBank is now expanding its business model to the GameFi community. The platform has established a dedicated GameFi fund in order to support early-stage projects and expand their influence in the blockchain space. Many projects listed on LBank have already surged in popularity. Here are a few notable gainers.
GameFi Projects Listed On LBank
ATLAS
Star Atlas intends to provide a multi-genre, immersive metaverse gaming experience that blends a cinematic gaming experience with the potential to earn virtual goods that can be transferred for real-world currency. It operates on the Solana blockchain. Moreover, at the time of launch ATLAS was trading at $0.078, while after the launch its highest rise was 1,282,000%.
