Game-Fi

Billions of people play video games worldwide, and the entire ecosystem around professional gaming has evolved, creating a wealth of opportunities for gamers. The cream of the crop earns lucrative perks playing as salaried members of big e-sports teams, sharing in tournament prize money, and sealing in lucrative sponsorship deals. Others earn by streaming their gameplay experiences live on viewing platforms like Twitch Gaming or YouTube Gaming.

Today, video gaming is a multi-billion industry, gaming software and hardware being its major revenue magnets. According to certain sources, gaming has outstripped TV, film, music, and on-demand entertainment to become the world’s biggest media category. However, much of the economic activity happening around gaming is centralized and the profits generally go to the makers. Not just that, they also control the game’s content, create policies, and make decisions regarding, say, monetization or upgrades.

Although this custodial approach of profit-sharing and ownership has persisted for long, things are changing with the advent of ‘play-to-earn’ games.

Play-to-earn is a unique gaming business model that allows participants to earn cryptocurrencies and NFTs or receive them as gifts from other players during gameplay.