With the explosive growth of the NFT market, enthusiasts are constantly looking for new ways to invest and grow their assets. Recently, it has become more and more popular to combine non-fungible tokens and a gaming experience.
Biswap has prepared this article for you to find out more about GameFi popularity and its benefits. Let’s dive into the details right away!
GameFi consists of two words: Game and Finance. It means the gamification of financial systems to create profit from playing play-to-earn crypto games. The first such games appeared in 2013. But this year, the GameFi platforms experienced a real boom! The idea of a decentralized gaming ecosystem that rewards every user who plays the game completely changed the gaming industry. The ideology was transformed from leisure to earning power. Combining DeFi, NFTs, and blockchain technology elements, GameFi is changing online gaming as we know it.
Benefits of GameFi
The play-to-earn model characteristic of GameFi projects is revolutionary. Traditional online games make money through in-app purchases, affiliate marketing, and advertising. But things are different in GameFi. There are a lot of astonishing benefits that definitely capture your favor.
Let’s take a look at several main advantages:
- Combination of leisure-time and earning
- Anonymity and full ownership of all the assets due to the decentralized public blockchain
- Additional ways to earn in-game passive income: staking, liquidity mining, and yield farming
How does GameFi work?
In blockchain games, characters or artifacts are represented in non-fungible tokens. Players have the opportunity to create new unique characters, upgrade them, sell or buy. Payment is made in the cryptocurrency of the platform the game is based on. Domestic tokens of popular games have already gone beyond their platforms and are traded on DEXes.
What is the secret of such a rapid rise in Play-to-Earn popularity?
Millions of players around the world get the opportunity to combine gameplay with earnings. Developers get new tools for distributing and monetizing NFTs and games. Investors make a profit through the sale of unique characters, weapons, artifacts, etc. Moreover, the price of characters and internal tokens is growing dynamically in many GameFi projects. According to many experts, the GameFi segment has a prospective future.
While the GameFi industry strives to develop, Biswap is an ever-growing project, and it has garnered everyone's attention with new and vivid milestone. Biswap platform aims to showcase the most interesting and exciting products in the crypto industry. So it is launching its own play-to-earn ecosystem where users can use NFTs in various planned games.
Biswap does not stand still and is also moving in the Play-to-Earn direction.
Biswap has announced the Squid NFT World - revolutionary GameFi project on BNB Chain which will be released on December 22–29!
What new opportunities GameFi will bring to Biswap & its users?
As a result of the Squid NFT World grand release, users will be offered plenty of exclusive GameFi benefits, and the Biswap platform will experience a spectacular evolution:
- Biswap DEX expansion on BNB Chain
Squid NFT World will expand the horizons of Biswap benefits and popularity on the BNB Chain. Biswap will get a mighty inflow of new users and powerful partners.
- Strengthening of the BSW token
GameFi will positively affect the token price, heighten the trading volume, and amplify the token utilities. ‘Cause, all actions in the Squid NFT Game will be conducted using the esteemed BSW.
- New opportunities for users to make a profit
GameFi allows players to earn crypto by playing fascinating games, inviting friends, and competing for the huge jackpot!
- Involvement of hundreds of thousands of new active users to Biswap DEX
Biswap newcomers will increase the number of participants in global and local chats and will offer revolutionary ideas and wishes.
- New levels and records in DeFi
Due to the development in the new sphere, Biswap will experience a vivid boost in statistics and establish new records.
- Expanding of Biswap NFT Marketplace utilities
The NFTs, used in the Biswap Squid NFT World, can be easily traded on the Biswap Marketplace.
- Huge GameFi partnerships
As we are becoming a new, powerful player in the gaming industry, a lot of top-notch GameFi and NFT projects will collaborate with us and we will create unique, profitable opportunities and features for Biswappers.
- New Burning mechanisms
Additional BSW burns will regularly increase the price of the token.
Intrigued to find out more about this colossal release on the Biswap DEX?
Read the full article here:
As you see, with a versatile set of offerings, Squid NFT World will have a positive effect on the Biswap DEX global growth and will offer the players multiple extra-profitable opportunities to establish high yields. Wait for the epic release and get yourself to the wonderful GameFi world! Crypto gaming is a source of actual income for players even as they’re being entertained. Some gamers even make a full-time income.
The industrial era has sunk into oblivion. The digital era is coming, and humanity is at the very beginning of the path. It was time to usher in a new era with Biswap!
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