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Concepts Entering Our Lives With GameFi

GameFi

They are projects in which the game industry takes place on a financial plane. In GameFi projects running on the blockchain, all transactions made in the game are recorded on the blockchain and the players acquire the concept of ownership.


Blockchain Based Gaming

Blockchain-based games aim to both benefit from blockchain technologies and enrich the gaming experience for users by using a blockchain-based infrastructure. In blockchain-based games, the assets created and earned by the users in the game are stored in the blockchain and the ownership of the players is protected.


P2E (Play to Earn)

It is a business model in desktop or mobile games where players earn rewards such as points, coins or virtual money as a result of their tasks. With the games using the P2E model, the prizes won in the form of NFT in the virtual environment can be converted into real money.


Move to Earn (M2E)

Projectors using the M2E model aim to generate income by acting. When users walk, run, do sports, dance, in short, when they are on the move, these movements are detected by GPS tracking and motion sensors. Rewards earned by acting can be converted into real money.


IGO (Initial Game Offering)

The IGO system allows the tokens or in-game items of the game projects presented on the basis of the blockchain to be pre-sold before the game is released.


Virtual Land

Virtual lands are digital assets that can be found in metaverse universes and traded. Virtual lands provide users with a variety of uses. Some of these areas are; advertising, games, socializing and business. Virtual lands, in which cryptocurrencies are used as currency, can be owned or leased through transactions made through NFT markets.


NFT

Although the concept of NFT is a rich concept on its own, it is a meaningful subject to be detailed under the title of GameFi. NFTs, which are divided into genres such as art, video, music, and text, appear in the game world as digital assets such as avatars, costumes and coins. In the GameFi world, NFTs are the means by which real profits are made.


VR (Virtual Reality)

VR technology enables the games in the gaming industry to leave the two-dimensional world and be experienced in three dimensions. Virtual reality experience offered with VR technology; It is supported by hardware technologies that activate the senses such as sight, hearing, touch and even smell.


Interoperability

This concept refers to the situation where different systems work together in the game world. The hardware and software tools that provide the game experience work together to enrich this experience.


In-Game Tokens

There are various features that in game tokens provide within games. It is used to level up in the game, to raise a character or to make purchases in the game.


PvP (Player vs. Player)

The term PvP refers to the situation of playing a game against one or more players. It is a concept that is often used especially in online games.


PvE (Player vs. Environment)

The concept of PvE is used to describe the situation where players play against AI. PvE includes games played alone or in groups against the computer. For example, playing against a programmed monster in a war game is PvE.


Asset Ownership

In the game world, asset ownership refers to the ownership rights of the players over the digital assets they earn. In GameFi projects, asset ownership occurs when games and player actions are recorded on the blockchain.


Cyberworld

Cyberworld refers to the system where computers communicate with each other. Multiplayer games take place thanks to the communication established by different computers. Therefore, it is possible to say that multiplayer online games are a cyberworld.


Yield Farming

Yield farming refers to the situation when users lend their holdings of crypto assets or stake into a liquidity pool for future profit.