P2E Direction
The GameFi concept has recently become widely known and now, it can be said that GameFi has had its best year so far. What has happened shows the huge potential of this market.
Last updated
The GameFi concept has recently become widely known and now, it can be said that GameFi has had its best year so far. What has happened shows the huge potential of this market.
Last updated
“Play to Earn” is probably the most popular keyword this year. This term seems to be brand-new and attractive at the first glance. However, the more thoroughly we analyze, the more clearly we understand that there are several problems in the way this term is approached.
This keyword really became very popular, because it is what every player wants in a game. Is there anything more interesting than playing and earning at the same time? It is a challenge that long-term projects should solve.
Earning tokens while having fun playing sounds really attractive. However, if the number of players soars and the developers fail to find a solution, it will be a big problem for the economy of that project.
A lot of projects failed to anticipate this, rewarding players with tokens in an uncontrolled way. As a result, inflation of the project’s economics resulted in ever decreasing token value.
Like a chain of dominos, early players rushed to take profits and eventually turned the project into a classic Ponzi scheme. The following participants ended up in heavy losses, they wanted to “Play to Earn” but it turned out not to be so simple.
The majority of the market has been so focused on the “Earn” criteria that its perception of blockchain games gradually turns into a form of financial speculation. Everyone wants to make a quick profit when investing in a certain GameFi project.
What has always been overlooked is that the concept of GameFi started with “games”, a real game with attractive gameplay that can attract players. Most of the current GameFi projects on the market do not pay attention to this aspect. They are sometimes so sketchy that they cannot be considered games. The game forms such as “Gas war”, “Staking game” are still DeFi mechanisms. They just pretended to be real games. Projects that are not gameplay-focused have lost their intrinsic value.
