2.2 Business model of GameFi

GameFi has combined blockchain technology and game modes with a whole new approach. Every figure in the game represents a NFT and could be belonged to a specific holder.

Currently, each GameFi adopts the P2E (Play to Earn) business model to attract their users by allowing them to earn profits while playing games, and this approach is highly appreciated by players. Especially when many people lost their jobs since COVID stroke in 2020, this business model was also rapidly adopted by many project teams.

The business operators earn administrative fees through selling and trading NFTs to support rewards giving. There are also in-game items to gain extra incomes for the game to break even.