Conceptually GameFi Gains All
TeaThe gamefi industry has seen major advancements over the past two years, with projects such as Axie Infinity (AXIE), Decentraland (MANA), and The Sandbox (SAND) competing for the top spot.
GameFi’s concept is one that is mutually beneficial to all involved and should in theory be successful as gamers are rewarded for playing games through in-game assets and cryptocurrency that translate into monetary rewards. . On the game developer’s side, creating incentives to increase playtime and extend the lifecycle will increase a game’s metrics, analytics, and overall profitability. It really is a win.
Problem that GameFi needs to solve
While GameFi will be successful, in theory, there are still issues within the industry that must be addressed for the sector to reach its full potential. The main issue lies within the disconnect between the Metaverse game world and DeFi itself as there is very little coherence between assets and cross-border transactions from game to game can be complex, tedious and downright difficult.
The reason DeFi is successful is because individuals are able to take back control of their finances, but it is also because of the flexibility and interoperability across all asset classes. For GameFi to become the standard gaming superstructure it also needs to incorporate interoperability to provide easy access across borders so that the fundamentals behind DeFi’s success can be translated into the world of metaverse gaming.
How Celphish (CELP) Can Provide Easier Interoperability
A new protocol that is just now entering the crypto market that can help solve the issues with GemFi is Celphish Finance (CELP). With a specific focus towards making smartphones more crypto-friendly, Celphish seeks to integrate Web3 and cryptocurrency across an array of platforms.
First Selfish is enabling users to easily swap tokens and coins through its innovative swapping mechanism that is ultra-fast, ultra-affordable and highly secure. Benefit users will connect their wallet to Celphish Swap which is a lightweight token exchange that operates similar to a regular DEX but as a lite version is more flexible and easier to use than some of the more complex services.
In addition, Celphish is allowing users to maintain complete autonomy over their NFT assets through its own NFT marketplace, which operates under the AMM model (Automated Market Maker), allowing users to seamlessly access their digital assets. can do business with.
Through Unicorn Services, Celphish can expand into the GameFi industry to help provide the interoperability of one’s in-game assets and native gaming tokens for swapping across borders on your mobile or browser.
Lastly, Celphish also operates under a proof-of-stake model and will thus allow users to stake the native coin CELP, earning interest to help lock the native coin and validate the network .
some way to go but the future is bright for the game
While there is still some way for the GameFi industry to become the norm and overtake Web2 gaming, there is potential, especially when there are projects like Celphish that can aid in integration and development for interoperability.
The overall market cap of the GameFi industry reached $55 billion in 2022 and with blockchain gaming expected to grow 10x by 2025, the economic upside is evident along with potential enhancements in UX.
As such, many are betting on the GameFi industry and it’s easy to see why.
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