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Price (USD)$ 10.16
Circulating SupplyGAFI 10.94506M
Volume (24h)$ 596.022K
Market Cap$ 111.33088M
Low/High 24h$ 9.56 - $ 10.83
Change (24h)$ 0.596084
Gaming is one of the fields where cryptocurrencies continue thriving: coins are great for rewarding players, creating loyalty programs, and promoting games. Many new gaming platforms have been created to promote Web3 games. One of them is GameFi, it is a DeFi platform for building new kinds of blockchain-based games. It is a part of the larger decentralized finance movement that utilizes decentralized financial tools for new forms and functions in finance, governance, and more.
GameFi is described as a decentralized game store where the game developers can publish their games and the gamers can buy GameCredits (GAME) using fiat money and then use them to acquire gamers. In that context, the game publishers receive 95% of all revenue generated by the game sales. In essence, GameFi (GAFI) is a Play-to-Earn program. Players earn coins as they play and can redeem those coins for in-game items, XP boosts, and even real-life merchandise. The games are designed to be played from the browser. Players don’t have to download any apps or download from Google Play/App Store. The website is pretty much similar to a regular mobile website.
GameFi collaborates closely with DAO Maker, Animoca Brands, and other reputable partners to grow and diversify the GameFi game community, which includes a large network of game projects. additionally contributes to the growth of IGO activities, in-game item marketplaces, and production guilds. The project also has a strong team of KOLs, ambassadors, and influencers not only in the blockchain community but also in the gaming community with the mission of bringing GameFi closer to everyone, especially the gaming enthusiasts.
Amazon Game Studios started GameFi in 2013 as part of its effort to create new digital entertainment products. The team of GameFi platform includes experienced professionals like Hai Duong, project lead, Lexia Nguyen, head of operations, Linh Do, head of quality, and more professionals. The project is also supported by Icetea Labs.
In 2014, GameFi released several experimental games created by Amazon Game Studios, including Tales from Deep Space, Cat Fling, and Toontown Rewritten. GameFi also helped design Crossy Road, which became one of the best-selling iOS apps that year. By late 2017, Amazon had begun selling GameFi to developers via its Amazon Web Services Marketplace. GameFi offers access to aggregate functionality (tracking users across games) as well as per-game user behavior. At the end of 2022, GameFi partnered with BNB Chain.
GameFi's competitors are a few other yield guilds and game-dedicated launchpads on the market. However, it is unique in providing all-in-one solutions, including an aggregator for tracking earnings and discovering great games, a launchpad for games, yield guilds, a marketplace, and more.
Here are more details about the ecosystem of the project. GAFI offers a number of tools for game designers in developing games and a range of features, including:
As a player, you can get GameFi tokens to set up your in-game assets on the blockchain and offer information through surveys to the developers and publishers. Every transaction is executed using GFI tokens, enabling the players and developers to spend the acquired currencies within the GameFi network.
Many protocols are currently active and in use on the GameFi platform. However, just a few of them are used often by a majority of the players. Notably, all the GameFi protocols are powered by UDP. Some of the protocols are mainly encrypted with AES-128. All GameFi Servers run on local hardware that is located in Iowa, USA. The server’s real address and ports can be determined from the client and will sometimes change to avoid abuse by bots that try to automatically connect with the network.
The native token of the platform is GAFI. The users holding GAFI tokens can receive discounts on trading and yield fees. A part of the ecosystem's fee supports the token's liquidity in the market. Moreover, the GAFI token also acts as a governance token allowing token holders to propose the direction of the ecosystem. The GameFi platform has a total supply of 14,954,970 GAFI, GAFI crypto ranks #450 on CoinMarketCap, however, it costs more than many coins in top 100: at the moment, GameFi token’s price fluctuates around $6, while its all-time high was in November 2021 with $351.7.
GAFI token has been going strong, and with the current value of the project it may see a new all-time high. For instance, TechNewsLeader predicts that by 2031, GAFI crypto will rise in price and cost at least $390.38 per coin, while PricePrediction experts take it one step further and believe that in 2032, GAFI token will cost $516.04 at its peak.
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