How do GameFi games work?

Play-to-earn

In some blockchain games, players receive financial rewards for completing gameplay objectives. The funds awarded in these play-to-earn titles typically originate from a reserve of native tokens held within a smart contract.

  • Winning battles and tournaments
  • Tending your plot of land
  • Trading on the Axie Infinity marketplace
  • Breeding Axies
Axie Infinity is one of the most popular GameFi titles to date, with gameplay revolving around breeding and battling digital creatures. Source: Playtoearn.online

Asset ownership

Central to many blockchain games today is the concept of ownership of scarce digital assets. Bitcoin introduced digital scarcity via the blockchain, and NFT technology expanded on it. NFTs can represent all manner of assets — both digital and physical — including in-game items.

Tominoya Casino’s opening night in May, 2021. Source:Decentral.games

DeFi features

Some GameFi projects introduce concepts from the DeFi sector to reward gamers. Concepts like yield farming, liquidity mining and staking will be familiar to anyone with DeFi experience and can provide a passive means to generate income from a blockchain game. If you’re new to DeFi, you can learn more about it and concepts that overlap with GameFi in our DeFi explainer.

Top GameFi protocols

Although the first GameFi titles used the Bitcoin blockchain, most modern blockchain games can be found on smart contract-enabled networks. Of these, Ethereum was the first and remains the most popular for developers and gamers alike.

  • OEC
  • Polygon Network
  • Solana
  • Wax
  • Polkadot
  • BSC
REVV Racing is a play-to-earn game that is built on the Ethereum scaling solution, Polygon. Source:Animoca Brands

About Pacific

Pacific is a decentralized NFT marketplace and an integrated platform for metaverse/GameFi assets. The project has received endorsement from some of the most eminent institutions and investors, including the Web3.0 Foundation, NGC, Gate.io, Krypital Group, PAKA, Candaq etc.

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Pacific_NFT

Pacific_NFT

Pacific is an integrated platform for decentralized NFT market and Metaverse/GameFi assets.