GameFi is dead, long live GameFi!
Let's call this GameFi 2.0 then
Last updated
Let's call this GameFi 2.0 then
Last updated
With all that was demonstrated above, only Assets being stored on-chain is not the definitive solution to help players maintain their ownership over their gaming experience. That is where GameFi 2.0 comes in.
The major difference between GameFi 2.0 and GameFi 1.0 is the drastic shift of components’ ownership and interaction dynamic from both player and developer perspectives. With the majority of all components deployed on-chain and with how players are fully aware of their status, the players are now the true owners of the game. On the other side of the plate, developers are freed up of their responsibilities in managing a centralised server that keeps hold of all in-game components, which in turn, eliminates their authority to manipulate in-game status. Developers can focus on developing new game interfaces with different UI/UX whilst maintaining the core game components determined by the power of blockchain technology to enhance user gaming experience.
Even without an interface, due to how developers manage it in a centralised manner, GameFi 2.0 allows players to have an alternative interaction method by the deployment of Smart contracts- a self-executing digital mechanic when meeting certain requirements. This is not an unfamiliar practice as traditional gamers have been modding and launching game servers to create their own private platform to enjoy discontinued games they once loved. Though requires a more sophisticated approach, players deploying smart contracts to interact with the game is only viable through
Last but not least, the ownership of the game allows players to generate revenue for both themselves and a shared revenue stream for all developers taking part in crafting their work on-chain. This serves as a healthy incentive for both parties to enrich the on-chain game content and prolong its lifespan for a sustainable benefit source.
