PRESS RELEASE. 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
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%.
Learn more: https://staratlas.com/
CryptoMines is a SciFi play-to-earn NFT game that allows players to acquire Workers and Spaceships in order to travel through the universe in pursuit of $ETERNAL. It operates on the Binance Smart Chain. Additionally, it was trading for $40 at the time of launch in LBank and after that, it acquired the highest gain of 12,400%.
The ILV token is the primary currency in the Illuvium ecosystem, and it is used to reward players for their achievements in the game. It is utilized to participate in the governance of the game via the Illuvium decentralized autonomous organization and entitles players to their portion of the Illuvium Vault (DAO). It is another popular token which was listed in LBank on March, 20. At the time of launch, it was trading around $15 and following that it has the highest gain of 9900%.
Axie Infinity is a blockchain-based trade and battle game in which participants own and run a portion of the company. It is a fighting game inspired by Pokémon in which users can breed and train their Axies to fight against other players. Moreover, AXS is the first popular coin which initiated with the hype in gaming assets. At the time of launch, it was trading for $2 and then achieved a highest gain of 8300%.
Future of GameFi
What makes GameFi truly special, is the potential of financial freedom. Instead of gaming and letting the game developers rake in your earnings, blockchain incentivizes users by paying them for their time.Tokens and NFTs give the financial power back to the users, giving them more reason to continue their presence in the decentralized universe.
From anywhere on the planet, a user can game, win,and cash their virtual assets in real life. This gives anyone with a computer and internet access the potential of making a living online. A freedom that has until now been reserved for only a limited group of people.
As NFTs and Defi become increasingly mainstream, so will GameFi. For the growth and development of this early-stage hybrid creation, much support is needed. Only with the devotion of users, exchanges and communities alike can we develop GameFi into greater things that might change our lives in the near future for good.
About LBank Exchange
LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users in more than 210 countries around the world.
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LBK Blockchain Co. Limited
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