Cointelegraph Consulting: Exploring the DeFi components in GameFi

GameFi

In 2018, online video GameFi (game) players could be successful on the Internet. With the introduction of the blockchain, the game industry is never so connected to money. One year ago, the gaming crypto market exploded after NFT boomed. 

Two venture firms launched a 100million game Fi ecosystem fund in November 2021. NFTs allow you to add value and ownership of games such as axe infinity. Players earn money on axes by finding a buyer and selling them at a profit. 

Staking is common in DeFi and has also entered the realm of blockchain gaming. When stake support for Axe went live in September of 2021, users can lock in AXS tokens for security and get paid rewards. 

Some smaller game projects have introduced staking to their games too. The game is called Liquidity Mining, which can also be played in Game Fi . players can earn jewellery tokens, which are the game’s primary tokens for purchasing NFTs. 

Cointelegraph Research has a report that will be all about GameFiction. The newsletter analyzes the latest social media sentiment, on-chain metrics and derivatives.

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