With the development of the field of decentralized finance, games on the blockchain began to gain popularity. We tell you about one of the representatives of the emerging industry
The widespread adoption of cryptocurrencies and blockchain technology has led to the development of decentralized gaming (GameFi).
This is a term that combines the areas of DeFi, NFT and PC games, whose users can make real profits. All digital items are stored on the blockchain, so they only belong to players, not developers.
In 2020, large-scale adoption of cryptocurrencies by institutional investors began for the first time: large companies purchased cryptocurrencies worth billions of dollars.
This year, global regulators have also paid attention to the digital asset market: the American Securities and Exchange Commission (SEC) for the first time approved an ETF for bitcoin futures. Now, the next stage in the development of the market will be its distribution among young people through GameFi.
While most of the classic games are geared towards earning money for developers, decentralized apps allow players to make money. And for this you do not need to buy expensive gaming equipment, just an Internet connection and a standard device (computer, laptop, and in some cases a smartphone).
Almost all in-game items that are used in the GameFi field can be listed on the secondary market and sold. Often, there are marketplaces right inside the platform.
The GameFi industry started back in 2013, when developers began to implement cryptocurrency support in games. This area has gradually developed, but the real boom has occurred in the last year, against the background of the explosive growth of the sphere of decentralized finance.
In the fall of 2021, the amount of blocked funds in DeFi services exceeded $ 100 billion, although a year ago it was at $ 21 billion, and two years earlier – about $ 7 billion. Since 2019, the figure has grown by 1328%. All this led to the fact that GameFi began to gain popularity, attracting millions of users.
Let’s take a closer look at one of the new generation games – ERTHA
Ecosystem ERTHA
ERTHA is a platform on the Binance Smart Chain blockchain, which includes 350 thousand digital land plots (HEX), which are NFT tokens.
The game, inspired by the Heroes Of Might And Magic gaming genre, is an imitation of real life. The developers claim that ERTHA is designed to stimulate economic and social growth.
Metauniverses create worlds in which objects that do not exist in reality merge with ordinary things within a single ecosystem. So far, this world remains at the level of a concept that is gradually being implemented. But it can be said unequivocally that the sphere is only at the initial stage of development.
The ERTHA metaverse map – futuristic and dystopian Earth – is divided into hexagons. HEX holders receive a commission for every trade associated with their sites. For example, users can receive ertium (game currency) for the following transactions taking place on their site:
- Employment tax (part of the wages paid by the employer);
- Sales tax (purchase tax when buying goods on the market);
- Corporate fees (construction, renovation, modernization);
- Corporate income (goods sold, employment contract penalties, penalty taxes);
- Warehouse fees (warehouse construction and modernization);
- Delivery fee (delivery of goods to a specific warehouse in our own HEX);
- Airfare (airline tickets) charges.
Users will be able to manage their companies and even countries, for which they will be rewarded. To have an advantage over other players, it is necessary to develop economically, infrastructurally, and also militarily.
Development
The topic of the metaverse began to develop several years ago, but at the moment there are only a few projects with ready-made products. It is too early to talk about the prospects of this sphere, since it may undergo serious changes in the near future.
Perhaps, at this stage, the metaverse cannot provide users with all the necessary functions to finally replace social networks.
However, it is quite possible that in a few years such decentralized games will become one of the ways to spend leisure time for a large number of people.