What is GameFi?
GameFi, a blend of 'gaming' and 'finance,' represents a crossover of blockchain technology and the gaming industry. It's a sector where games are not just platforms for entertainment but also for making money, leveraging cryptocurrency and non-fungible tokens (NFTs). In these blockchain-based games, players can earn real-world value through in-game activities, trading crypto, NFTs and contributing to game economies.
GameFi introduces a play-to-earn model, changing the traditional gaming landscape by enabling true ownership, rewarding players for their time and skills, and creating vibrant, decentralised gaming communities. To some, this innovative fusion of gaming and decentralised finance heralds a new era of interactive and financially incentivised gaming experiences.
Top 6 GameFi Projects to Explore in 2024
1. Alien Worlds (play this if you enjoyed: Minecraft)
"Alien Worlds" is an engaging play-to-earn (P2E) game built on the WAX blockchain. Players embark on a mining adventure, receiving a land plot and a shovel to mine Trilium, the in-game token. With items like land plots, tools, avatars, and weapons represented as NFTs on the WAX blockchain, "Alien Worlds" offers a rich, immersive experience.
Economic model: Players can earn real cryptocurrency (Trilium) and own their in-game assets as NFTs. These can then be traded on various blockchain marketplaces.
2. Planet IX (play this if you enjoyed: Civilization)
"Planet IX" is an NFT-based strategy game that challenges players to restore a fallen planet to its former glory. The game is designed to increase awareness of humanity's effect on the modern world, evolving into a vast sci-fi metaverse. Players engage in strategic decision-making and resource management to bring about planetary restoration.
Economic model: In "Planet IX," players interact with a blockchain-based economy, trading in-game items as NFTs using cryptocurrencies. This model integrates real-world economic principles with strategic gameplay, offering a unique blend of entertainment and investment.
3. Upland (play this if you enjoyed: Monopoly)
"Upland" is a leading blockchain metaverse game that combines the thrill of earning NFTs and online property with the fun of exploration. Based on the real world, it transforms real addresses and landmarks into a virtual playground. Players can buy, sell, and trade properties, mirroring the Monopoly board game's property trading but in a vast, interactive online setting.
Economic model: "Upland" operates on the EOS blockchain, enabling players to own blockchain properties that have real-world value. These properties are represented as NFTs, and players can engage in community-based commerce, adding a layer of financial strategy to the game.
4. Axie Infinity (play this if you enjoyed: Pokémon)
"Axie Infinity" is a popular blockchain-based game where players collect, breed, and battle creatures known as Axies. This game has drawn significant attention for its engaging gameplay, reminiscent of the Pokémon series, where capturing and training creatures is a central theme. In "Axie Infinity," players engage in real-time battles, using strategic skills to outmanoeuvre opponents.
Economic model: "Axie Infinity" offers players the opportunity to earn real-world rewards through gameplay. Axies and other in-game assets are represented as NFTs, allowing players to trade them on various blockchain platforms. This economic model blends the excitement of creature-based battles with the financial incentive of play-to-earn mechanics.
5. Decentraland (play this if you enjoyed: Second Life)
"Decentraland" is a unique virtual reality blockchain platform that allows users to create, explore, and trade in a decentralised virtual world. Reminiscent of "Second Life," it offers a rich and immersive social experience, where players can build environments, interact with others, and engage in a variety of activities within a vast digital universe.
Economic model: In "Decentraland," players use the Ethereum blockchain to trade items and properties, which are represented as NFTs. This creates a dynamic economy where users can monetise their virtual real estate, similar to a real-world economy but in a blockchain setting.
6. Gods Unchained (play this if you enjoyed: Magic: The Gathering)
"Gods Unchained" is a digital trading card game built on the Ethereum blockchain. It appeals to fans of games like "Magic: The Gathering," combining traditional card game mechanics with the innovative technology of blockchain. Players can collect, build, and battle with their card decks, creating a strategic and competitive gaming experience.
Economic model: "Gods Unchained" allows players to truly own their cards as NFTs, enabling them to trade and sell these digital assets on blockchain marketplaces. This model empowers players with ownership and control over their in-game items, adding a layer of investment and value to the traditional card gaming experience.
A Glimpse into Blockchain Gaming's Future
This selection of blockchain games showcases the innovation currently defining the gaming landscape. From strategy and world-building in "Planet IX" to the creature-collecting adventures of "Axie Infinity," each game integrates traditional gaming elements with blockchain technology. As we observe the evolution of this sector in 2024, make sure you give these games a go to see for yourself how blockchain is reshaping the way we game.
