About GameFi's road to innovation

The prosperous development of blockchain technology provides technical support for the combination of games and finance. Blockchain games (GameFi) are also known as decentralized games, namely GameFi - Game (game) + DeFI (decentralized finance) . GameFi was first proposed by the Chief Strategy Officer of MixMarver at the Wuzhen Conference at the end of 2019. It was initially defined as GameFinance, which means games with financial attributes. Later, with the application of DeFi, YFI founder AC said: DeFi's future attributes will be more inclined to gamification. After that, GameFi was widely known as Game (game) + DeFI (decentralized finance). The core of DeFi is decentralization. In the past, professional gamers and eSports streamers alike earned income through games and competitions, turning a hobby into a profession, but the industry was largely affected by platform rules, game popularity, strict advertising standards and other constraints, lack of autonomy in content innovation and asset control.
Now, with the decentralization of DeFi, GameFi players are taking control back from centralized companies. Whether you are an investor or a professional gamer, you can control your assets and accumulate wealth in GameFi. In addition to DeFi, NFTs (non-fungible tokens) are also the core components of GameFi. With its uniqueness, provability of ownership, transferability and indivisibility, NFT endows in-game items with great value and meaning. In GameFi, NFTs can naturally be converted into assets that can hold tokens, which enables functions such as staking and leasing to be realized in the game. Taking PUGG as an example, players use the Metapeople virtual citizen ID card (also NFT) and platform token to master the ownership of assets in the game, and then use NFT as a tool for liquidity mining to mine after the token Calit (asset). , DeFi's feature of making assets flow can help players realize the realization of game assets to real wealth. This is also the reason and purpose of the vast majority of players entering GameFi - Play to Earn (play while earning).
Compared with traditional games, GameFi solves a major pain point - players are in a weak position and have no dominance. In traditional games, the equipment and characters hard-built by players may be depreciated or even abandoned due to factors such as the addition of props by developers and version updates. In addition, players have always only been consumers. Even if they can profit from the sale of props through third-party platforms, they still need to take certain risks, and there is no guarantee and stability. In ChainGame, in the upcoming metaverse portal platform - PUGG, NFT based on blockchain technology can not only represent identity and verify assets, but also realize the transaction of game items and the transfer of assets through Layer2 cross-chain technology , and truly return the dominance to the players in a decentralized manner. It is worth mentioning that although many projects in the GameFi track are trying Layer 2 technology, PUGG does not stop there - the visual transmitter of commercial aggregation realizes the visual transaction of in-game assets while helping cross-chain. This technology not only allows players to clearly see the origin and destination of each Calit, but also allows each cherished NFT to be displayed in the wallet, thereby gaining the favor of social objects in the game... just like in "Ready Player One" Wade shows Artemis the same cool gear.
It can be said that the blockchain game is not just a simple game, while it is also a new model for the creation and distribution of virtual assets or of digital wealth. The innovative GameFi project, represented by PUGG, just seeing the broad technical and commercial possibilities contained in it, boldly developed and introduced the SocialFi mechanism, and is committed to building a blockchain UGC (User Generated Content) platform , contributing to the construction of the Metaverse and striding forward towards the vast blueprint of the Metaverse.