What Makes a Good GameFi?

Read full article at The Capital.

GameFi still continues and increasing its popularity from 2021. It was a year of a lot GameFi projects emerged, and for a good reason, players are excited about an earn model which rewards your gameplay time. However, there is no doubt that GameFi market is still at its infancy and current community is the very early adopters.

There is one prominent issue with the current stage of GameFi, and that is the quality of games. Traditional gaming has been at its peak in terms of quality and active user engagement especially due to global pandemic, millions of people became active gamers.

Gamefi Unique Users by Chain
https://www.footprint.network/@u7tkguSKt2/Gamefi-Monthly-Report-Jun-2022

This also brought a lot of attention to blockchain games as well by some early adopters, but due to GameFi market being very shallow, projects are subject to major value fluctuation.

These fluctuations arise from various reasons so let’s see what makes a good GameFi project in order to prevent these.

The Most Highlighted Issues: Gameplay and Game Design

The most highlighted issue or feedback regarding the GameFi projects is the lack of gameplay mechanics or unsophisticated game design. Most blockchain gamers are coming from traditional gaming, meaning that these players know what a good game should look like. Transitioning to blockchain gaming, their main purpose is to generate some revenue for themselves while playing games. This being the main focus point of the blockchain gamers, they tend to ignore the lack of overall game quality as long as they are generating revenue.

Important thing is, games are meant to be fun. Players enjoying the games and earning something in return would keep players loyal to the project and as long as they are actually enjoying the game, they would be less tended to leave the project.

Fail or Succeed Tokenomics:

Tokenomics are one of the things many projects fail, regardless of their game design. Due to the hype surrounding the GameFi ecosystem, projects tend to rush their launch with not so well studied tokenomics, and they very well attract a lot of people and increase their project value, but their tokenomics being very vulnerable to fluctuations, once token value dips, most of the community abandon the project leaving the game on its own.

That’s because they usually don’t feel invested in the game itself. Which means that a very slight of FUD in sight cause some people to abandon the game, and this creates a chain reaction of rapid value reduction due to the shallow market.

Sustainable and Secure Gaming Environment:

Another point that is essential is the security. Player base of a GameFi would expect the project to preserve a sustainable and secure gaming environment. Since GameFi includes real earning potential for anyone, some people try to exploit games, contracts, or systems in general. These kinds of issues, once they surface, cause players to lose their trust in the project and a feeling of frustration arises resulting in the decline of the value.

Value Offered

GameFi has tremendous potential, both traditional and blockchain gamers are increasing at an accelerated rate and people are always looking for new games to play. Offering them earning potential by playing games is a revolutionary step in the world of gaming and blockchain.

As long as GameFi ecosystem keeps getting better and bigger, there is no denying that we will be offered better games every day.

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What Makes a Good GameFi? was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.

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