GameFi And SmashChain: The Perfect Combination
Referred to by many names, GameFi is a new, growing and trending genre of gaming that emerged with the development and progression of blockchain technology. Ever since the ERC-721 standard was introduced to the Ethereum blockchain, NFTs have not only exploded in popularity, but also in usage; and it wasn’t long until developers started utilizing them for gaming.
Blockchain-based games use NFTs for a variety of different purposes, which keep growing as time passes by and as NFTs become more advanced. The technology in general is used to realize certain goals, and these goals can include providing passive income, achieving decentralization and community-led governance, providing a means of income, recording important actions on the blockchain, managing economies, creating digital scarcity… and much more.
So with so much value added, where does GameFi sit at today, and where is it heading in the future?
The Current Situation
While the space is booming with activity and progress, it can’t be denied that the genre is still in its infancy; with hardly any GameFi product able to go head-to-head with a traditional video game despite the amount of money circulating in crypto and NFT markets.
Opponents and critics of the genre also like to argue that traditional games are fine as is, and that NFTs don’t always add enough value to a game to justify an implementation of some sort. This doesn’t stop projects from trying however, and as a result, the genre continues to grow and attract more players from around the world.
If It Includes NFTs, It Includes SmashChain
Some say that gaming is the ultimate form of art on account of the number of elements involved in one. From soundtracks and voice acting to visuals, gameplay and storytelling, it is a very flexible medium of art with so many variables to play around with.
What makes NFTs so applicable to gaming is that they can be utilized for almost every aspect of the game, allowing for a mind-numbing amount of use-cases and subgenres that are only bound to technological and imaginational limitations — which are the kinds of challenges that SmashChain appreciates.
Armed with a team of experts and creatives, SmashChain is the project that is up to the task of innovating the GameFi genre and setting the bar higher than that which traditional games can reach; this is because blockchain-based games have all the potentials of traditional games, with the addition of a robust and continuously-improving technology powering some of their functions.
Furthermore, some of the new NFT use-cases that SmashChain introduces in other fields of art and media may spill over into GameFi. This may include events like NightRose, whose implications for the democratization of movie-making may inspire the same concept in video game production.
All in all, a multi-faceted genre hungry for innovation that is based on one of the most flexible tools of the 21st century, and SmashChain are — for lack of a better term — a match made in heaven. In the future, we will be able to share some of the areas of GameFi where SmashChain is heavily involved, as well as any new partnerships, collaborations, events and products that emerge in our adventure in gaming’s uncharted waters.
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