The GameFi tokens are creating a buzz within the crypto industry with some, such as LBank, dedicating funds to its development.
Dubai, United Arab Emirates–(Newsfile Corp. – December 10, 2021) – LBank establishes a dedicated GameFi fund to support sector development. GameFi is a hybrid of blockchain gaming and DeFi, changing the gaming industry with “play-to-earn” models that differ from traditional “pay-to-win” models. Recognizing the potential of this field, LBank is paving way for GameFi projects by dedicating funds to their development.
With traditional games you pay for an advantage in the game, such as equipment or powers. Play-to-earn games give players the promise of financial gain by giving them rewards that can be translated into real life asset, while delivering users a wide range of appealing activities.
The new generation of cryptocurrency advocates are young, and many are avid gamers. GameFi seems to be the logical next step of blockchain development. Users seize character cards and lands in games in the form of NFTs. With everything stored on public blockchains, no more counterfeiting, or limited access to your own gaming assets. Blockchain makes ownership easy to prove and the transfer of assets restriction free. Parts of DeFi are also transferring to GameFi, such as staking. Users can store their tokens and gain an annual interest or secret rewards.
Improve your character while earning blockchain secured tokens that can’t be taken away by game creators. Sounds like it belongs in a sci-fi novel. But with the development of blockchain technology, it not only is achievable, it’s already reality.
LBank Established GameFi Fund
Recognizing the potential of this field, LBank is paving way for GameFi projects by dedicating funds to their development.
LBank is one of the leading cryptocurrency exchange platforms that focuses on start-up cryptocurrency projects. Following the trend of DeFi and NFT, LBank is now expanding its business model to the GameFi community. The platform has established a dedicated GameFi fund in order to support early-stage projects and expand their influence in the blockchain space. Many projects listed on LBank have already surged in popularity. Here a few notable gainers.
GameFi Projects Listed On LBank
Figure 1: GameFi: The New Golden Child of the Cryptoverse
Future of GameFi
What makes GameFi truly special, is the potential of financial freedom. Instead of gaming and letting the game developers rake in your earnings, blockchain incentivizes users by paying them for their time. Tokens and NFTs give the financial power back to the users, giving them more reason to continue their presence in the decentralized universe.
From anywhere on the planet, a user can game, win, and cash their virtual assets in real life. This gives anyone with a computer and internet access the potential of making a living online. A freedom that has until now been reserved for only a limited group of people.
As NFTs and Defi become increasingly mainstream, so will GameFi. For the growth and development of this early-stage hybrid creation, much support is needed. Only with the devotion of users, exchanges and communities alike can we develop GameFi into greater things that might change our lives in the near future for good.
About LBank Exchange
LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users in more than 210 countries around the world.
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LBK Blockchain Co. Limited
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