GameFi works on the play-to-earn model and can be termed as a platform for blockchain gamers, investors, and traders with an active interest in the world of NFT gaming. The platform is a digital NFT gaming marketplace that hosts popular play-to-earn game projects for players to participate, investors to invest, and new NFT game developers to register their creative games for increased exposure.
The Ecosystem of GameFi
GameFi’s ecosystem is the unique aspect on which the NFT gaming hub stands and provides a platform for gamers, investors, and traders to enjoy the benefits offered by the innovative concept, popularly called play-to-earn gaming.
Game Aggregator has been designed for gamers who are interested in popular blockchain games and want a storage location for their in-game assets (and NFTs). The gaming aggregator can also be used by players (of any game) to track their play-to-earn yields and rent, sell, or exchange their in-game items and NFTs on the GameFi marketplace. In summary, GameFi has a dashboard that offers its users the top NFT games which they can use to trade items and track their play-to-earn yields and item net values.
To facilitate play-to-earn gameplay mechanisms, GameFi accelerator provides tools and templates that are pre-built to implement blockchain components. It also provides factory contracts for NFT’s, token economics, and a play-to-earn mechanism that can help teams of various blockchain projects to accelerate their targets of development, feature roll-outs, and other important upgrades.
Yield Guild and Scholarship
GameFi Yield Guilds is a unique feature of the project as it provides a passive income-generating source for users. To earn rewards, users have to participate in different various gaming finance vaults set up in the GameFi Yield Guilds. It provides a lot of earn-without-playing features, which users can use to:
- Gain early & exclusive access to newly-launched high-profile game projects
- Lend their game items to other players and gain a percentage of their earnings
- Participate in staking activities to earn in-game rewards
- Participate in yield guilds to earn passively
Working on the same mechanism (more or less) as the model of scholarship in Axie Infinity, GameFi has partnered with Yield Guild to provide (new) players with in-game NFT assets which they can use to participate and pay a set percentage of the profits back to the guild. The person who receives the scholarship is called a scholar, and at present, their earnings are split among a 70/20/10 model where 70% of the profits go to the scholars, 20% to the community manager, and 10% to yield guild games.
Game Launchpad & IGO
GameFi Launchpad will serve as the first launchpad to hold Initial Game Offerings (IGO) events for popular and upcoming game projects. The purpose behind IGOs is to get early access to gaming assets and become an interaction point for GameFi community gamers. At present, GameFi offers two IGO’s to its users, one is a $KABY pool and the other one is Deathroad IGO. Both IGOs provide an initial offering of their tokens which gamers can use to enhance their blockchain game-oriented experience.
Multi-Chain NFT MarketPlaces
The integration of DeFi tools into the GameFim marketplace will help it transform into a single source where players can buy all in-game items and assets they need to participate in different games and events. The multi-chain NFT marketplaces will host NFT auctions, and become a source of selling, trading, buying, and discovering various in-game items and assets. NFT transactions on the marketplaces on GameFi will be carried out via an exclusive exchange mechanism and all of this is done via smart contracts to ensure accuracy and reliability. Users of GameFi can buy NFT in-game items from hundreds of sellers in various NFT marketplaces.
Mini Games For New Users
Not everyone is accustomed to the world of NFT games. To fill this gap between new users and the NFT-gaming experience, GameFi features multiple mini-games that new users can play and get accustomed to the world of NFT gaming.
Auction House For NFT Items
Similar to a traditional Auction House in the real world, GameFi has an Auction House marketplace where valuable in-game items can be auctioned. Bids are placed from interested investors and the item is sold to the highest bidder.
Use Cases of GAFI Token
There are five major use cases of the GAFI token:
Stake GAFI to get GameFi’s tiers and join IGO (Initial Game Offering) on GameFi’s launchpad.
Similar to other blockchain projects that provide governance activities, GAFI token holders can stake their tokens on the GameFi ecosystem and gain voting rights to important decisions, such as suggesting new features, choosing the next upgrade, and determining the general direction in which the project is heading, among other things.
GAFI token holders will be given exclusive discounts in the NFT marketplaces that they can use to buy NFT items and enhance their strategies in the games available on the GameFi platform. They will also receive discounts on trading and yield fees.
Supporting GameFi’s Liquidity
The fees charged by GameFi are in the form of GAFI tokens which will be used to support the token’s liquidity overtime on the secondary market
GameFi charges a variety of fees including trading fees on the marketplace, acceleration fees for launchpad and accelerator, and yield fees for the earning program. All of these fees are invested back into the GameFi universe to accelerate its growth in the long run.
For more content based cryptocurrency news and reviews click here
To know the price of the coins click here
Dislcaimerthis news and reviews blogs are only to educate, inform and deliver information to the public and is not an investment advice. Nothing should be taken as an offer to buy, sell or hold any cryptocurrency