In the world of cryptocurrency including the Bitgert coin, GameFi is a fairly new player. However, it has quickly established itself as one of the best ways to make money in gaming.
GameFi is a platform which allows game developers to reward gamers for playing their games. GameFi also enables gamers to earn tokens for sharing data about their playing habits, so now players can monetize the things that many of us do for fun anyway (playing games and sharing data).
In this article, we’ll explore how to get started with GameFi and how you can make money with your favorite games and NFTs.
What is GameFi?
GameFi is a decentralized gaming ecosystem that allows game developers to monetize their games, and players to earn money just by playing.
The platform uses the Ethereum blockchain technology, which gives it many advantages:
- More transparency and security for all involved parties in the process of development, testing and publishing games.
- Developers can monetize their projects easily without having to pay commissions or fees.
- Players can earn money with GameFi tokens while they play their favorite games!
How Do GameFi Projects Work?
GameFi is an ecosystem that helps game developers monetize their games. It’s a platform that provides tools and resources for game developers, including the GameFi app store and a peer-to-peer network that lets users play each other’s games.
GameFi connects game designers, app developers, and brands to create customizable gaming experiences.
The way it works is that GameFi users sign up with an e-mail address and provide some personal details. Their account will be linked to their Twitter or Twitch accounts and they’ll be able to support their favorite creatives by donating Bitcoin to them through the GameFi website.
Anyone who wishes to get involved will use the site’s existing Bitcoin wallet. So far, there are only plans to accept Bitcoin on the platform; however, this may change in the future as other cryptocurrencies become more widely used.
GameFi doesn’t take any percentage of donations; rather, all money goes directly from supporters’ wallets into those of creators.
How does GameFi develop the best financial models for games?
GameFi is not just a software provider. The company’s founders, who have extensive experience in both the gaming and financial industries, understand that the development of a financial model for any game requires a deep understanding of its players’ behavior.
In addition to their experience working with money-making games, our experts also know how to make use of blockchain technology when it comes to monetization. We’ve already seen how blockchains can be used for payments through digital assets like CryptoKitties and War Riders.
If you’re interested in getting involved with these kinds of projects right now but don’t know where to start, look no further than GameFi.
How Can You Make Money in GameFi?
You can earn money by playing games or by selling your game data. The first way to make money is to play the same games as other people are playing and have the data from your play sessions collected and turned into a marketable product, where you will be compensated for the time you spent gaming.
The second way is to sell your game data directly, which can be done in two ways:
- Selling your own personal information
- Selling information about others’ gameplay
How To Get Started with GameFi
Getting started with GameFi is easy. Here’s how:
- Sign up for GameFi. This will give you access to the platform and tools that allow developers to monetize their games. You’ll also be able to get in touch with our support team if you have any questions or need assistance along the way.
- Create a project. You’ll need at least one game before launching a campaign; this will be your project title on the GameFi platform, so keep it simple and memorable.
- Select a financial model (e.g., subscription, pay-to-win). Different types of models can be applied depending on whether or not users are purchasing in-game items using cryptocurrency.
- The most popular example being FIFA Ultimate Team Coins purchased through real money markets like Amazon or Google Play Store via credit card/debit card/PayPal accounts. Furthermore, crypto wallets can also be used such as KuCoin Wallet where users can buy GUSDs from USDT pairs, such as SWEAT USDT, which will then be converted into FIAT currencies after being spent by gamers who wish to purchase these types of digital assets.
- The easiest way to get GameFi is by trading your existing cryptocurrencies for it through an exchange like Bittrex or Cryptopia. The benefit of doing this is that you’re not spending any money on Gamefi.
The Future of GameFi
GameFi is a subsidiary of MOG Entertainment Inc, which owns and operates the popular digital game store known as “MOG Games.” GameFi will be a new digital currency that can be used to buy games from MOG. Using cryptocurrency allows GameFi to act as a universal currency for all digital games, even those not sold by MOG.
GameFi users will also be able to receive a certain amount of free GameFi for joining the GameFi community (this will encourage other users to adopt it). There will also be a bounty program where users can earn additional GameFi, along with other incentives for promoting and using the currency.