How does GameFi relate to the Metaverse?
Blockchain tech has come a long way and is not only changing the world of markets and finance, but the gaming industry, which is now a billion-dollar industry. The symbiotic relationship between gaming and finance is called just that – GameFi. In the GameFi space, these games do not only allow for the same levels of entertainment as regular games, but they also allow you to make money on what is called a play-to-earn model.
GameFi itself has been regarded as a key to the metaverse as our interactions in the virtual space become increasingly gamified and, at the same time, using the blockchain and cryptocurrency as a means of making transactions. Virtual reality, blockchain, gaming – these are all processes that all tie into the concept of the metaverse (depending, of course, on the definition that you subscribe to in the metaverse alignment chart).
We have picked out the 3 most exciting GameFi metaverse games to play in 2022.
But before we begin…
Alien Worlds rose in popularity around a year ago. This “UFO game” is based on mining Trilium tokens (TLM) and NFTs on the WAX blockchain. Currently expanding, Alien Worlds is divided into 6 planets with around 5 billion TLMs distributed daily. The game also incorporates NFTs (non-fungible tokens). NFT items such as shovels and pickaxes are the tools are used in the game itself, mainly for mining. Upon registration, players are equipped with just that: an NFT shovel.
Youtube gaming influencer, Zueljin, was making around $20 a day (!) playing Alien Worlds, but has recently stated that these figures are no longer realistic and have significantly dropped.
Watch his video below for an explainer:
Gameplay is simple and reminiscent of a process known as “staking” in DeFi-apps. For a great introduction to staking, this is a good place to start.
The user essentially chooses a planet, an area of land and clicks on it to begin the process of mining TLMs. The player then waits for them to accrue to the account and chooses the next plot. It’s a slow process, but if you’ve ever mined in a game like RuneScape, then this is very similar. To speed this process up, you can buy NFTs of stronger items, e.g. a pickaxe.
Alien Worlds monetization
Apart from mining Trilium tokens, there are 3 other ways to make money in the game:
- Generating more expensive NFTs.
- Placing TLMs in the account of another planet to generate interest (just like normal banking).
- Buying an NFT with a plot of land. In this way, the owner receives a commission on all TLMs mined on it by other players.
In general, it’s a very passive game and do not require your full attention. It’s like farming in any other MMORPG. Our verdict is that this is more of a GameFi app that incentivizes you to make money rather than stay for the sweet gameplay.
For more information about Alien Worlds, visit their website.
Thetan Arena is regarded the first MOBA (multiplayer online battle arena) blockchain game. Essentially, it’s like a League of Legends type game, but with GameFi elements, allowing you to make money. In Thetan Arena, players battle it out with characters called “heroes” using a range of different skills and abilities.
Thetan Arena monetization
In these battles, these heroes are NFTs on the BSC (Binance Smart Chain) blockchain. They are divided into 3 classes, which have different health, attack damage, and speed characteristics. The heroes themselves are also divided into 3 levels of rarity, which offer different rewards after every battle. The higher the level, the higher the reward.
Another way of making money in this game is by obtaining and then selling BEP-20 THC tokens. These are given for leveling up the heroes, inviting other players through a referral link and winning battles. The reward depends on the rarity and appearance of the hero.
For more information about Thetan Arena, visit their website.
No list is complete without a mention of the giant and most popular NFT game out there – Axie Infinity.
Axie Infinity is a GameFi project from the Vietnamese studio Sky Mavis. It is a collectible game, the essence of which is to breed “Axie” creatures, which are NFTs themselves. Each Axie is objectively cute and has over 500 customizable body parts. This adds a degree of uniqueness to the game and enough to give you hours of fun.
You can pit these Axie creatures against each other in battles and earn ERC-20 SLP tokens. These tokens form the backbone of the game itself and which you need to breed these Axie creatures. You also gain “AXS” or Axie Infinity Shards, which can be used to upgrade various aspects in the game, i.e. the AXS tokens allow users to pay for in-game purchases. They can be used on the Axie NFT trading platform, which accepts this as a real token.
You can also, for example, combine a few weak NFTs with Axie make one new, stronger and more expensive NFT. When they evolve, the new creature gains skills from the previous ones. And you can breed them a total of 9 times. Each new crossing will cost more SLP tokens, but the result will be a rarer and more expensive creature.
Axie Infinity monetization
The monetization in Axie Inifinity depends on the price of Axies, AXS tokens, and SLP tokens. If the prices of the three tokens go up, you’ll be able to generate a hefty profit by breeding axis.
In the other case, if the price of Axie does not change or falls. and the price of AXS and SLP increased, breeding may not be a viable option.
So when choosing a strategy, keep an eye on the market.
Cryptocurrency, furthermore, remains highly volatile so this is also something to be wary of.
GameFi Metaverse games are here to stay
GameFi is one of the most dynamic parts of the development of the metaverse in 2022. The growth of NFTs have also revolutionized gaming with in-game assets and collectibles. It’s all about following the roadmaps of these games to understand that they are organized and are not simply cash grabs or rug pulls. These projects have a long-term vision backed by a solid white paper with a clearly defined strategies.
We’ll be following them closely over the next decade.
With these games in mind, it’s even possible to consider a career in blockchain gaming, which is included in our list of most lucrative metaverse jobs in 2022.