Twenty years ago, people would have been amazed at the concept of uploading art to a website and having global bidders from every continent bidding on the art using cryptography to store it.
The same can be said about the way we handle our finances in a cross-border transaction where buyers and sellers do not need an intermediary, such as our financial institutions, to facilitate the exchange of funds for goods and services.
This evolution has also transcended from how the gaming community works as more people are becoming attracted to the gaming world due to the high financial prospects associated with the gaming industry. Considering the great possibilities that blockchain technology and cryptocurrencies offer to the gaming industry, a global audience is taking notice of the opportunities that the gaming industry can offer.
The gaming industry is a multi-billion dollar market that if properly structured would continue to thrive for a very long time and all those involved could remain relevant for the benefits it brings to its ever-expanding user base.
What is GameFi?
According to Bloomberg, “GameFi refers to decentralized applications (“dapps”) with economic incentives”. These generally involve tokens granted as rewards for performing game-related tasks such as winning battles, mining precious resources, or growing digital crops. It’s an approach also known as play-to-earn. Which creates a whole new opportunity for the gamers to participate and benefit from the gaming platforms.
This revolutionary trend has shaken the entire gaming market space from the traditional gaming methods where people only spend their funds to acquire games without any incentives even as they play and are completely limited to the version or service they have only paid to play.
However, the transformed gaming industry where people get incentivized for playing games is becoming more popular and attractive to old gamers and new gamers alike.
The associated benefits of playing games have become transformational in nature as most people are becoming more financially free for doing what they love. So when a game lover plays the game (which is something he or she loves), he gets rewarded financially and gradually builds a wealth system for themselves.
This has been proven from countries all over the world where young people totally engage in playing games in the Philippines and other Asian countries to earn as playing can be extremely rewarding.
This is very possible such that when you earn tokens in a game that grows in popularity, those tokens can grow in value, perhaps sharply as in the case of Axie Infinity which had an astronomical increase from $0.54 to $94 in 2021.
In addition to Klever, we also have our partner gaming platforms that have also proven their viability in making the gaming industry a lucrative one, such as Devikins and others yet to launch.
Conclusively, we would like to encourage our gaming community to look forward to a year of greater possibilities on the Klever ecosystem as we look forward to the gaming revolution in no distant future.
Disclaimer: This is not financial advice. Do your own research. Consult a professional investment advisor before making any investment decisions.
