GameFi and the NEAR Protocol - what's going on in the ecosystem?
You might have heard about decentralized finance (DeFi). Still, over the last months, a brand-new, widely adopted emerging trend with the potential to disrupt the video game and finance industry has appeared: GameFi. GameFi is a mash-up of gaming and finance and is made entirely possible by blockchain technology, the non-fungible token (NFT) rage, and gamers everywhere.
Let’s take a step back. When you ask people why they play games, their answer is almost always the same: “because it's fun”. Fun is relative to everyone’s perception, and with Web3 gaming, we’ve seen that games don’t necessarily need to be “just fun” to become engaging. A big part of this new wave of gaming is that it's not just created by people playing games, but it's also determined by what developers realize is possible through experimentation and a combination of different technologies. The goal of Web3 gaming is not just to create viral or iconic games but to plant the seeds for what games might be able to do in the future. This begins with technology.
A network that’s highly involved in GameFi is non-other than NEAR Protocol. The protocol focuses on expanding and nourishing the gaming ecosystem and ensuring the enhancement of gaming’s economic incentives. Economic activity and incentives in Web2 are typically one-way: game studios and companies monetize players and users. Web3 has the potential to upend this model by improving the fairness of economic interactions and incentives. Current Web3 projects on the NEAR show how this will be accomplished. So, without further ado, let’s look at some GameFi innovations that already exist on NEAR.
GameFi on NEAR
PixelPets is one of the most played games on NEAR and a pet trading and battling NFT game. Each token represents one of the 60 different types of pets. Each pet has a rarity type (common, rare, epic, or legendary) that affects its strength and other stats, such as quality and level. PixelPets combines the "collect to earn"/"play to earn" concept with a built-in pet marketplace and weekly tournaments with a prize pool for the best players. But what’s more, it also just very cute to look at!
LandToEmpire is a NEAR Protocol play-to-earn mobile strategy game. The game occurs in a fantasy world where the player is the land's lord. In LandToEmpire, players must upgrade their land by attacking other players' lands or producing them independently. To attack, players use resources to train various types of troops. Gold and elixir are the primary resources. Players can form clans, which can then engage in clan battles and communicate with one another.
A GEM token is used to expedite building and upgrading. GEMs can be obtained by completing various tasks and levels. Players can use the exchange to trade game tokens, as well as withdraw and deposit them into the game.
Gamespack is a gaming platform that combines GameFi and DeFi components to enable players to play crypto games and trade gaming NFTs. Gamespack is solely dedicated to gaming and provides tools for developers, gamers and Web3 enthusiasts alike.
Players of play-to-earn games can browse and play games, collect and trade NFT assets, and connect with the community; game developers can integrate their games with the platform to gain access to the community and profit from games and platform features.
Lords of Looteria
Lords of Looteria is an F2E (free to earn), P2P battling game created as part of the Gamespack set (see above). The core gameplay mechanics are based on semi-auto-battle PvP real-time multiplayer. The match-making algorithm considers the player's rank, army, and unique parameters. During the battle, players can use power-ups (runes) on characters to change their parameters, harm or heal units, and so on. The winner is awarded the prize based on the type of battle (Campaign, Arena, or Tournaments).
Smashrooms is a fast-paced mobile fighting game that includes earning elements. The concept is straightforward; you’ll need to collect one-of-a-kind Smashrooms. The game is a play-to-earn multiplayer mobile game in which randomly generated Smashrooms await your discovery and participation in the legendary battle.
Smashrooms is here to create an exciting next-generation fighting game using NEAR Protocol technology, NFT, and decentralized finance. In the future, the game will be available on Android, iOS, and other platforms.
Geo Fight is a real-time strategy game with a pay-to-win model. Geo Fight's world comprises 177 countries, each represented by an NFT. The owners of the NFTs will be declared rulers of their countries at the start (Day 0), making them responsible for diplomatic and economic affairs. The ruler's goal is to bring progress and prosperity to their country.
After the boom in blockchain gaming and the rise of metaverse initiatives that took off last year, it is clear that Web3 gaming is only at the beginning of its innovation journey. Web3 is changing the gaming industry for the better. Instead of simply extracting time and attention, mobile gaming on the blockchain promises to reward users more. In Web3, players will have a more significant say in how in-game resources are allocated and how their overall world exists. Developers will be given more creative and economic freedom in terms of the games, planets, and experiences they create.
DISCLAIMER: This is not financial advice. Staking, delegation, and cryptocurrencies involve a high degree of risk, and there is always the possibility of loss, including the failure of all staked digital assets. Additionally, delegators are at risk of slashing in case of security or liveness faults on some protocols. We advise you to do your due diligence before choosing a validator.