Gamefi is on ramping up thousands of participants who are using such platforms to make their first crypto purchase. The goal is to give people the first leg on the financial ladder globally. Gamefi could become a bridge that has the potential to be widespread adoption of crypto in the coming years.
It is simple, fun, and appeals to young children who have grown up playing games. It can educate players on lending and borrowing strategies that can earn high returns. Gamefi can also generate income from a high-profit area such as yield farming.
Players can compete with other players and attempt to reach milestones. Gamefi is a risky proposition, just like any investment. People act as real estate developers, grabbing and buying assets and then using them to make money and add value.
Its not a winner take all deal, unlike a monopoly. Players are getting the same volatility as those that hold cryptocurrencies. Participants should prepare to lose some of their investment initially. The safest route is ecosystems managed by a DAO.
The gamefi program is expected to have a significant number of participants. Blockchain gaming activity increased by 2,000% in the first quarter of this year. Game players can create their own money to own in poor countries, where millions remain unbanked.