GameFi

GameFi, short for Game Finance, refers to blockchain-based gaming platforms that incorporate decentralized finance (DeFi) elements, allowing players to earn cryptocurrencies or NFTs while playing. These games often follow a play-to-earn (P2E) model where players can earn in-game assets with real-world value. Axie Infinity is a well-known example of a GameFi platform, where players collect, breed, and battle creatures (Axies) to earn cryptocurrency rewards. These rewards can be sold on crypto exchanges or reinvested in the game. GameFi merges the gaming world with financial opportunities, making it a rapidly growing sector within the blockchain industry. The success of GameFi depends on both the gameplay and the financial incentives it offers to players.