2.1 What is GameFi

GameFi is the acronym of Game Finance, it is known as “Blockchain Game” as well. The nature of it reveals in its name which is to add financial elements in a gaming world. The game itself is the body that incorporates NFT and DeFi (decentralized finance) technologies to form an integral platform.

The concept of GameFi was proposed earliest in 2019 World Blockchain Conference by the founder of MixMarvel. The path to DeFi development hasn’t been easy due to current limits in financial industry, and GameFi reveals a silver lining through the introduction of games. Meanwhile, its special economic modes in games have also brought many business opportunities to the industry.

The potential of GameFi is promising as it covers both gaming and financial industries. Finance, we all know, is the key to profits, and gaming industry is booming through time, evolved from arcade games to mobile games or even VR games. The market size of gaming industry has been over US$ 150 billion.

Due to the enormous potential GameFi possesses, it will be likely to thrive speedily as current NFT market does.