What things will determine the future of GameFi? An interview!

What was the motivation behind your further development of the gaming industry? In what ways will this expand the applications of blockchain beyond the realm of cryptocurrencies?

I have been dealing with cryptocurrencies since 2012 and have been a buyer of non-fungible tokens (NFTs) since 2018. At a time when decentralized advertising systems were still in their infancy, my team and I Bitmedia.IO – an advertising platform for blockchain projects in the cryptocurrency space – founded. Our core offering, then and now, is banner ads on crypto websites, which both bring leads for advertisers and secure revenue for publishers. As our company has evolved, we now offer a wide range of marketing services including influencer marketing, content marketing, PR publishing and much more.

Over time, my interest in cryptocurrency gaming, NFTs, and the Metaverse grew. We are currently in the process of developing an NFT based Metaverse game called Chainers to develop. In this game, players have the opportunity to create, customize and extensively control their own characters and metaverse. We view this game as a fundamental addition to the GameFi ecosystem.

We strive to develop a gaming ecosystem that appeals to all gamers – regardless of whether they are through the Want to make money using cryptocurrencies or are just looking for a fun, free game are. For this reason, we intend to not charge entry fees for any of our games to make every gamer feel welcome and comfortable.

How do you think the evolution of NFTs and the Metaverse will impact the future of the crypto industry?

In a world that is becoming more digital with each passing year, the development of metaverses represents the next natural step in evolution. There are those who believe that metaverses will soon become indistinguishable from the real world, and perhaps in the distant future even replace it. While this point is still a ways off, we are already seeing the emergence of a new generation of metaverses, filled with impressive graphics, VR support and diverse opportunities for gamers, NFT artists, collectors, influencers, brands, marketers and event organizers convinced.

These metaverses are developed based on Web 3.0 technology and have an economy based on NFTs. The two technologies are essential for the functioning and growth of the projects. As development progresses, it is to be expected that Web 3.0 and NFTs will also develop and adapt accordingly.

What’s in your personal crypto portfolio?

I believe protocols will play an essential role in our future. Currently, some of these protocols may be undervalued or overvalued, but in my opinion now is a good opportunity to invest in them as they offer significant growth potential. Even in times of market decline, I believe that robust protocols will weather the turmoil and recover.

Personally, I am a big supporter of Bitcoin and have a lot of focus on it. In addition to Bitcoin, I am also interested in other projects such as Polkadot, Polygon, Solana, Avalanche and the Binance Chain (BNB Chain). I’m particularly interested in long-term projects that focus on building infrastructure, as well as a few select games that I think have the potential to take a leading role in this area in the long term.

How does blockchain impact gaming and GameFi?

The central role of blockchain in the gaming industry is to create liquidity. Many gamers are already familiar with the concept of tokenization, even if they may not know it. This makes integrating blockchain technology into video games a logical progression.

Previously, many popular games had virtual currencies that were used for in-game purchases. However, the transactions often took place outside of the actual game, frustrating developers. Blockchain technology could bring about a positive change here, particularly through the use of remote gaming servers that improve the gaming experience for operators and players alike.

A key advantage of blockchain in gaming is the ability to create ‘play-to-earn’ games that are ‘free-to-play’ for users. This eliminates the need for advertising or micropayments, as a self-sustaining ecosystem where players trade with each other can fund the game.

Blockchain also creates a standard regarding in-game currencies and assets, linking them to the real world. The ‘play-to-earn’ model, known from games like Chainersgenerates revenue through in-game transactions using virtual currency and has already proven itself.

In addition, blockchain provides a structure for many games, be it in decentralized or hybrid form. In a decentralized game, the blockchain and community control everything related to the game, including in-game assets. In the hybrid game there is a central server, but the blockchain is used for decentralized trading of in-game assets. In both cases, the blockchain ensures the authenticity and value of the in-game assets.

Overall, blockchain technology brings numerous advantages to the gaming industry. These include:

• Ensuring the ownership and authenticity of in-game assets, enabling their sale and reducing theft and fraud.
• Assurance that assets are properly allocated to players to protect player investments.
• More control for players over the game, regardless of the developers’ actions.
• Enabling the creation of user-generated content.
• Providing transparency to trading to promote trust between players and developers.
• Incentivize players by allowing them to earn money and participate in the voting process.
• Creating a level playing field for fair competition among gamers and reducing the risk of a monopoly.

Now that we have looked at the benefits of blockchain technology in the gaming sector, it is interesting to look at the concept of gamification and its possible use in other industries. Gamification or gamification is an effective way to unite people and motivate them to participate. If you want your platform to be used, integrating elements of gamification can increase user acceptance.

The concept can also be transferred to areas such as retail. Recently, we have seen a rise in crypto exchanges that promise an improved user experience and support for traders to make money. But given the current decline in the crypto market, traders may be hesitant to get involved. Gamification could make trading more engaging by giving users advantages and offering a novel, more interactive interface.

In addition, gamification can be applied to other market segments, such as cryptocurrency staking. By offering incentives and gamifying the staking experience, users could be more likely to stake their coins and engage more actively with the platform. In a sector where tasks become monotonous, gamification can improve the experience on the platform and increase enjoyment.

Is GameFi the future of blockchain?

At the moment it cannot be said definitively whether GameFi will establish itself as a leading trend in the market. However, the idea that this could happen is not unreasonable. In the recent past, we have seen the emergence of platforms such as Axie Infinity and Decentraland, which have achieved significant success.

As interest in GameFi increases, more investments are being made in this sector. New platforms are constantly emerging that are fighting for a place in this industry. Games can be highly engaging when carefully and creatively designed. Additionally, developers currently have the opportunity to use and explore this concept in different ways.