How blockchain is revolutionizing the gaming industry?

MARKET_WATCH Blockchain

GameFi is a term used to describe “game finance,” as it integrates traditional gaming and decentralized finance (DeFi) using blockchain technology. GameFi employs blockchain technology to create decentralized gaming marketplaces offering players different economic incentives and financial opportunities through play-to-earn blockchain games. Players can earn cryptocurrency by playing games or participating in various activities within the gaming world. In contrast, the traditional gaming industry is mainly retained by corporations offering limited earning potential until now. GameFi is the new frontier of gaming innovation that has rapidly impacted the traditional gaming industry since the rise of Axie Infinity. The Ethereum-based platform has developed a new gaming model that rewards players for the time and effort spent playing the blockchain game instead of just the money they put in, making platforms like Axie Infinity a popular investment option among crypto gaming enthusiasts. GameFi typically involves the creation of gaming tokens or NFTs that can be used as in-game assets like virtual land, avatars, weapons, costumes or currency traded on cryptocurrency exchanges. Players can earn these tokens by participating in various activities within the game, such as completing quests, winning battles or staking tokens. These tokens can then be used to purchase in-game items, trade with other players, or exchange for other cryptocurrencies or fiat currencies. GameFi platforms may offer additional DeFi features such as yield farming, staking and liquidity supply.Overall, GameFi offers gamers a new and exciting way to earn money while playing their favorite games. It allows DeFi investors to make returns on their digital assets while participating in the gaming ecosystem. 

 

Source : [How blockchain is revolutionizing the gaming industry?](news.google.com/rss/articles/CBMiWWh0dHBzOi8vY29pbnRlbGVncmFwaC5jb20vZXhwbGFpbmVkL2hvdy1ibG9ja2NoYWluLWlzLXJldm9sdXRpb25pemluZy10aGUtZ2FtaW5nLWluZHVzdHJ50gFdaHR0cHM6Ly9jb2ludGVsZWdyYXBoLmNvbS9leHBsYWluZWQvaG93LWJsb2NrY2hhaW4taXMtcmV2b2x1dGlvbml6aW5nLXRoZS1nYW1pbmctaW5kdXN0cnkvYW1w?oc=5) undefined - Blockchain gaming Gaming•20Cointelegraph / May 17, 2023

rayn.finance logo

Automata FRANCE SAS

240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.