My top picks on the Gamefi for 2024.
Before we dive into the picks, let's understand what exactly the Gamefi is. To understand the Gamefi and how it is possible, one needs to understand the role of the blockchain and how the blockchain game differs from traditional games.
In traditional games, game companies sell the game and assets to the players and players have these assets on their account for their personal use. They do not "own" the assets or their account also as they are funded bounded by "TOS" that prohibits selling their account in most cases.
Blockchain Games create assets generally NFT and once the game company sells it to the player, then it is the player who owns and controls the assets. The player is free to sell, transfer, or donate the assets as per wish. Blockchain in this case provides a
transparent ledger and keep track of the ownership of assets and it is available for public viewing also.
In blockchain games, players by owning the assets can be involved in multiple activities, including voting on game development proposals also.
All these activities, in broad become GameFi, where players own the assets, and get rewarded (mostly in-game tokens) for playing or performing other actions like staking of tokens or voting in proposals but are not limited to these activities only.
My Picks.
1. Enjin Coin
Enjin Coin is native to the Enjin Blockchain. So Enjin Coin is not directly a game coin but is more like a governance coin of the blockchain that is specifically created to fuel the NFTs and Gamefi revolution. Enjin offers a variety of SDK for developers, a marketplace NFT.io for NFT trading, and a user-friendly Enjin Wallet. It already has partnered with some leading brands like Samsung and Microsoft.
2. Sandbox
Sandbox is more focused on tools and services that allow individuals to create a "metaverse" experience using their platform. Currently, their native tokens sit at rank #65 in the cryptocurrencies, I feel more optimistic about their approach of Metaverse Lands where the developer creates and monetize their creation.
3. SPS
SPS is the governance token of the Splinterlands game. SPS is a little different from the above 2 picks due to its current setup in the game. Game mechanics currently cause the burn of SPS that generates a buy pressure on SPS. After these mechanics were implemented, SPS almost tripled in 3 months and it will be interesting to see how SPS will fare in 2024. The current implementation of SPS burn can be a role model for any "Play2Earn" game.
Other honorable mention.
4. WAX
I guess, if we talk about NFT collections, Gamefi, and Play2Earn games and do not mention WAX then the discussion will look a little incomplete. WAX is still home to some of the most played blockchain games and has a nice marketplace for NFT trading. WAX is an interesting blockchain that can offer both Gamefi and Defi for game tokens and looks like a nice blockchain to start a Game project.
These are my personal views based on my DYOR, for any investment, you should rely on your DYOR.
Posted Using InLeo Alpha
