GameFi can be defined as a hybrid of video games (Gaming) and decentralized money (DeFi). Blockchain technology is employed in these types of video games, allowing players to be the sole proprietors of the game's virtual aspects. The "play-to-win" model is introduced by GameFi. In this situation, it is the participants who profit from their knowledge or investment of time. To win in GameFi games, players must have more than simply luck. The actions that generate rewards differ based on the game, but they all reward talent and challenge players to use strategy.
How does GameFi work?
Depending on the game, the methods for creating a reward or rewarding players vary. The majority of GameFi projects, on the other hand, include the following characteristics: NFTs (Non Fungible Tokens)
NFTs are digital assets that are produced with the use of blockchain technology. NFTs, unlike fungible tokens, are one-of-a-kind, indivisible, and belong to only one person. Users can own avatars, animals, houses, tools, and other items depicted in NFTs, just as they can in traditional games. Users can then use their resources to upgrade their digital assets and then sell them for crypto currency, creating additional wealth.
Decentralized Finance (DeFi)
DeFi is an experimental type of financing that relies on smart contracts on blockchains rather than central financial intermediaries like bank.Gambling, for example, is permitted in some GameFi projects. As a result, players can earn interest by blocking some of their tokens. Gaming is aided by GameFi and NFTs.
Nowadays, when you spend time playing video games, you are doing it for fun; you cannot make money by sitting on your favourite couch and playing for an hour; the only way to make money playing is to devote yourself to competitive gaming or content creation via streaming; there is no real money reward for casual players, and in some games, being a casual player is an unpleasant experience; this is due to differences in obtaining equipment, advancement, and so on.Even a serious gamer will spend thousands of hours playing a video game and receive nothing in return, in my personal experience (I moved from being a hardcore gamer who spent more than 12 hours a day playing to a busy guy who plays 6 hours a week at best).
My favorite game in the past was World of Warcraft, an MMO that revolutionized the gaming industry at the time, with in-game awards arriving after a significant amount of time spent farming, grinding, or battling, and the growth was almost unlimited. As a result, playing a game with that much content for two hours is not an option. If I wanted to improve my arena rating or earn that warglaive, I'd do so.For several months, I had to sit for several hours every day. It was a full-time job, and I was never compensated for my efforts (I know, no one forced me to play it). So, why the World of Warcraft preamble?
The solution is straightforward. What can I claim I got out of WoW, other than fun, after playing for more than 8 years and at least 12 hours a day? There isn't much. What if all of the fantastic gear I gained from battling and discovered while traveling and questing for those eight years was in the form of NTFs?
My pockets would have been very happy
Blizzard Entertainment tried out a marketplace for Diablo 3 a few years back; it didn't survive long since the game was flooded with Bots and the economy was ruined, but the concept was brilliant; with more effort and better organization, it might have been a huge success.I had the good fortune to sell a Monk staff for $300 back then, and we were all so pleased that my pals swore they were going to live off of Diablo, and one even quit his job (which he later asked to have back). We were giddy with anticipation at the prospect of generating real money through gaming. I recall paying for a year's worth of World of Warcraft playing time, as well as purchasing Diablo 3 gear for my heroes and other items I can't recall. I'm sure Blizzard was ecstatic as well, because that stick netted them a substantial profit from the sale commission.
GameFi is a remedy for this issue
Why do GameFi games have potential? The prospect of earning money while playing their favorite game appeals to gamers. The success of Axie Infinity, which, despite all of the challenges that have come their way (economy, hackers, cheaters, and an uncertain crypto market), still has a sizable player community that is committed to Sky Mavis' concept. To be honest, I don't think any casual or professional gamer would be unpleasant earning money for one to two hours a day .The offer appeals to me; the real-money prize is an added bonus to the game's already high level of fun. What about me? I'm drawn to nft games because the prospect of receiving a reward in exchange for my time spent playing a videogame is appealing, and the prospect of collecting nft’s from various videogames is even more so. As a result, I'm always on the lookout for the next great game to try out, enjoy the adventures, and get paid for it.
RugZombie is a project I recently discovered and found intriguing. RugZombie has an extremely appealing topic, "Zombies," that always draws a large number of visitors. "The next generation of NFT utility, featuring GameFi, E-Commerce, and metaverse capabilities," according to the project's description. It provides numerous options for generating usefulness for their token, as I'll demonstrate below:
You stake ZMBE to acquire Zombies and NFT rewards by using your dead tokens to open graves.
You offer liquidity to obtain NFTs in this mode. The more NFTs you lock, the more likely you are to obtain NFTs of exceptional quality and rarity.
Pools for Spawning
In this mode, you gamble your ZMBE on project token awards to win NFTs.
Here you may discover information on various NFTs, as well as miniatures of them. Each miniature contains information about the NFT in question, such as how many exist, its rarity, and a miniature of it.
RugZombie's zombie motif, as you can see, lives up to its name while providing utility to its native tokens, allowing the building of a portfolio of nft’s that can later be used in games and connecting with other GameFi projects. The notion of messing around with my zombies, eating my foes, and making money appeals to me much. RugZombie is a unique and enjoyable option for me to utilize the 6 hours of free time I have each week.
Don't forget to check out RugZombie, and if you have any questions, you can contact them on their social media accounts.