With DeFi (decentralized finance ), you can do most of the things that banks finance — earn interest, borrow, lend, buy insurance, trade derivatives, trade assets, and more — but it’s faster and doesn’t require paperwork or a mediator.
Recently, there have been many developments in the de-fi place, mainly play-to-earn games. Games are hijacking the De-fi place right now. The gaming industry is being transformed by blockchain. The system is decentralized, which means that the game is not owned and controlled by a central authority, but rather by the users, who possess digital assets and game objects.
According to data tracker DappRadar, within the past 24 hrs, there are a total of 398 active users on the blockchain games having atleast 1 active wallet. Over the past year, active and inactive blockchain games have increased by 71%. To 1,179.
There are reasons why people are diving into blockchain games. Firstly because most people got bored during this time and games came out as an interesting option. As blockchain allows users to buy in-game items with both real and digital money, blockchain would be the best way to keep track of these transactions.
Some popular De Fi games to play and earn –
- Axie Infinity –
It is a crypto-based pokemon game in which players raise, battle, and trade cute pets called axies. It is used by Binance Smart Chain and many crypto exchanges. Sky Mavis started Axie Infinity in 2018. There were around 1 million daily plays in august 2021.
- Alien words –
This game takes players into the universe with multiple planets. Just by selling the earned land players can earn rewards. WAX is the local blockchain of Alien worlds. Mining requires the purchase of NFT game cards.
- Crypto Blades –
This game uses the Binance smart chain blockchain. To start the game the player needs to purchase 0.2 Binance coins. You can pay the fees with this BNB
Reasons for increasing uses of DeFi gaming are -.
- To play and earn – The convergence of gaming and DeFi is known as GameFi. It permits players to get a share of the tokens of the blockchain gaming platform.
- Lockdowns – People were bored during this period because of the lockdown in 2020-2021. As the crypto area was comprised of such interesting games, therefore, it captivated more players.
How does Gameify affect business leaders?
What if your users have a chance to have fun as well as earn money? Then there is definitely nothing better than trying to play to earn DeFi games.
Defi is really essential in today’s business world because –
- DeFi bring attractive Yields to businesses
Various businesses have idle cash reserves which they cannot loan because of the restriction of existing financial reserves. With time De Fi protocols have become safer so even the locked finance is secure.
- Alternative Borrowing
Businesses always hinge on traditional money matters to borrow money to finance their working and further evolution. Nevertheless, the traditional money borrowing and the lending system are highly unsound. Small and medium enterprises often tussle to get funds because of heavy paperwork. Though DeFi businesses can make it easy to borrow any amount of funds without any limitation.
- Adoption of Blockchain
Integration of blockchain in terms of blockchain evolution, Defi platform evolution is one the most fierce thing thats occurring. This will create a huge impact on financial markets. Being a part of this change at the initial stage, business owners can make their business stands out.
Why Defi Gaming?
It is a fact that blockchain, DeFi, etc. are tough terms that frighten the users away. So, DeFi gaming is important. It gives users a gamified decentralized finance experience where the business owner can provide them with enhanced and safer services.
Also, the gamification of DeFi makes sure that business owners do not have to alter the cycle. . All they need to do is gamify the DeFi applications that they add to their business model.