Neon Earth dictionary

Mom said video games are bad! You will spend your whole life sitting at home without money and friends, playing your useless games…

Luckily mom isn’t always right (sorry mom!)😘

🎮Games have become so firmly established in our lives that they have become not just entertainment, a reason to get to know each other or a form of education, but also an excellent tool for making money. Today we will find out what GameFi is and how to make money on it!

📌GameFi (consists of two words: Game and Finance) is the name of the blockchain platforms that allow users to earn money on games.

In such games, heroes, lands, monsters, and equipment are non-fungible tokens (NFTs). Players have the opportunity to create new unique characters, upgrade them, sell or buy. For transactions, users use the cryptocurrency of the platform on which the game is based. In some games, you can bet on the outcome of battles, rent out lands for battles, or sell your improved cards. The internal tokens of popular games have already gone beyond the platforms and are traded on cryptocurrency exchanges. And some of them, such as the Smooth Love Potion (SLP) tokens in the Philippines, are accepted in regular stores.

The term appeared back in 2013. Then the developers began to add cryptocurrencies to their game projects. But it was in 2021 that this system became widespread due to the growing popularity of NFTs.

So games aren’t always bad. And the next time you want to throw away your child’s computer, think — maybe he can earn millions of dollars for you😎

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