ZB Academy: Will GameFi become the new form of DeFi?
“Next, we will enter GameFi.” Since Andre Cronje, founder of Yearn.finance, emphasized GameFi in early September. The concept of GameFi has been widely discussed in the community, and new projects and new gameplays have emerged endlessly.
There are currently two understandings of GameFi, one is GameFi=NFT+DeFi, that is, NFT mortgage is introduced into DeFi, such as Aavegotchi, Meme, Whale, etc. The second is DeFi gamification, that is, the user’s assets are turned into equipment, and rewards are obtained for completing tasks through DeFi mining and other methods. For example, ARCx and DEGO, the latter failed before October 1, used an airdrop event to attract 48,000 people into the Telegram group in 3 days. The blockchain “scratch card” gameplay made many players addicted.
In fact, the idea of GameFi has a long history. In the second half of 2019, Mary Ma, Chief Strategy Officer of MixMarvel, first proposed GameFi, which is gamified finance and a new gamified business, in a speech at the Wuzhen Summit. Meng Yan published an article discussing the issue of game tokenization. He believes that “gamification is the only way for the token economy.” In addition, there are many similar speeches.
Currently, there are three different views on GameFi.
The first point of view is that the current GameFi has DeFi attributes greater than Game. When the market confuses DeFi and DeFi mining applications, and the operation of the latter is well-known by users, and micro-innovation is difficult to become a new hot direction, GameFi based on DeFi and DeFi mining becomes the focus of market pursuit. And GameFi itself is a concept of dynamic development.
The second view is that GameFi is to incorporate more fun elements into DeFi. The proponents of this view believe that homogenized tokens are not enough to describe certain scenarios of DeFi applications, so NFTs are needed to supplement them, and NFTs and games are closely connected, and GameFi is naturally proposed. Additional gamification elements make the entire DeFi gameplay richer and more interesting. Such as DEGO. DEGO is a DeFi project with modular design. It introduces a variety of innovative gameplay on the basis of DeFi mining, which is called a blockchain scratch card.
The third view is that there are big players in the market promoting GameFi hype. The proponents of this view believe that the popularity of DEGO does not lie in NFT mortgages, but in the membership level system. They think that when NFT is sent out, people who understand and those who don’t understand can participate. At the same time, influenced by DeFi and NFT, it will become popular soon. This is a very smart method of publicity.
GameFi is currently being discussed a lot, but whether it can be welcomed by the market still needs time to test.
About ZB Group
ZB Group was founded in 2012 with the goal of providing leadership to the blockchain development space and today manages a network that includes digital assets exchanges, wallets, capital ventures, research institutes, and media. The Group’s flagship platform is ZB.com, the industry leading digital asset exchange. The platform launched in early 2013 and boasts one of the world’s largest trading communities.
ZB Group also includes ZBG the innovative crypto trading platform, and BW.com, the world’s first mining-pool based exchange. Other holdings include wallet leader BitBank, as well as exchange brands ZBM, ZBX and Korea’s Bithi.
Industry intelligence and standards are headed by the recently launched ZB Nexus who embody the core values of ZB Group and open-source their reports and analysis for the public.
Learn more about ZB Group by visiting www.zb.com.
