The word “Gamefi seems” to be on the lips of every person who is interested in crypto. Standing for game + finance, Gamefi disrupts traditional video gaming by introducing opportunities for players to monetize the time and effort spent on completing missions and knocking out big bosses in computer games.
What is Gamefi?
Top Gamefi projects has features of DeFi (decentralized finance), NFTs (non-fungible tokens), and blockchain technology, and is also known as P2E (play-to-earn) games. The key difference between traditional video games and P2E games is that video games employ a “pay-to-win” model and encourage players to buy various in-game assets to gain an edge over other players and win the game.
On the contrary, Gamefi relies on a “play-to-earn” model that offers financial incentives to players who devote their time and resources to winning battles and progressing through the game.
All objects in Gamefi games are presented by NFTs that are necessary to verify (prove) ownership of exclusive intangible in-game assets. An NFT in such a game can represent any object, such as a plot of land, a player’s avatar, clothes, weapons, and suchlike.
When a person purchases items while playing on some Gamefi platform, they can trade these items in specialized digital marketplaces for other NFTs. Alternatively, players can sell their in-game possessions in exchange for cryptocurrency and then convert it to fiat money.
This is a brief explanation of how Gamefi projects work and how they allow people to earn some cash in an enjoyable way. Without further ado, let’s look at the best cryptocurrency Gamefi projects of the day!
The Sandbox
The Sandbox is a virtual universe (Metaverse) where anyone can create their own world and monetize their virtual experiences. The SAND token https://www.aax.com/en-US/top-cryptocurrencies/ is one of the best tokens in 2022. To join the Sandbox platform and make noticeable achievements in the game, users need to buy SAND, the game’s internal cryptocurrency.
Coin Hunt World!
Coin Hunt World! is a free P2E mobile game that invites you to discover hidden treasures in your real-world neighborhood. Your task is to search for keys, unlock vaults, and effectively complete missions to earn cryptocurrency as well as NFTs. It is a colorful and addictive geo-location, augmented reality Gamefi project where you explore the area around you and try to find secret boxes that contain real crypto, such as Bitcoin and Ethereum!
STEPN
Another great Gamefi project that has been enjoying massive popularity for several months already, STEPN is a move-to-earn (M2E) game that takes the benefits of a blockchain-based rewards concept beyond gaming to promote a healthy lifestyle. The app works as a step-counter that you install on your smartphone. STEPN tracks the physical movements you make using the GPS signal on your device.
The game has a dual-token scheme: Green Satoshi Token (GST) as the in-game utility token; and Green Metaverse Token (GMT) that has a governing function in the STEPN project. The game uses NFT-based sneakers which you should buy to activate the earning mechanics of the game.
Alien Worlds
One of the best Gamefi projects of today, Alien Worlds is a card game where users assemble to assemble NFTs, mine the platform’s native token Trilium, and access all sorts of gaming activities.
A play-to-earn game in its purest, Alien Worlds offers different opportunities for how players can earn rewards and monetize their in-game experiences. For instance, players can participate in token staking and NFT trading on this platform.
Additionally, participants can mine, mint, and sell their in-game possessions on the in-built NFT market. The platform includes different gaming modes such as mining, battles, and quests to attract different players with different gameplay preferences.
The Trilium Native Token (TLM) is used to unlock advanced features of this card game and, unlike many other Gamefi tokens, is compatible with multiple blockchains: it can be used across Binance smart Chain, WAX, and Ethereum blockchains, which is known as cross-chain compatibility.
Illuvium
Illuvium is an NFT collectible role-playing Gamefi project and an auto-battler game that runs on Unreal Engine 4.26. In this infinitely beautiful futuristic universe, players can mine, harvest, capture, and fight Illuvials – mysterious animals. These creatures roam about a virtual open world and present the ultimate goal of this Gamefi platform: to find and collect fantasy beasts and then assemble them in teams to launch powerful attacks against other players.
Players can earn in-game rewards in ILV tokens by taking part in competitions and tournaments, or fulfilling different quests. Moreover, players can capture Illuvials and collect resources to be then traded on an internal marketplace.
