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GAME FInance) GameFi refers to blockchain-based video games whereby players can take the crypto they earn playing the game as well as any NFTs they acquire and trade or use them elsewhere. Gamers earn assets in different ways; for example, they can be rewarded for winning battles or by monetizing structures they build on land they purchase.
Play-to-Earn (P2E)
A major feature of GameFi is earning crypto while they play the game, which differs from the traditional pay-to-play video games whereby players must purchase licenses or subscriptions. Some P2E games are free to play while others require gamers to purchase assets. See
P2E gaming.
Asset Ownership
Decentraland and other games that simulate virtual worlds feature land ownership. Players monetize their real estate assets by renting their land or hosting events and charging other players to participate. See
Decentraland,
crypto glossary,
NFT,
DeFi and
video game.