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, and GameFi is just “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 in the future 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, eSports streamers, etc. earned money 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 the control of their business back from the centralized companies. Whether you are an investor or a professional gamer, you can control your assets and accumulate your wealth in GameFi. In addition to DeFi, NFT’s (non-fungible tokens) are also the key components of GameFi. With its uniqueness, provability of ownership, transferability and indivisibility, NFT endows in-game items with great values and meanings. In GameFi, NFT’s can naturally be converted into assets that tokens can be included in, which enables players to do staking and leasing, etc.
In PUGG, for example, players use the Metapeople virtual citizen ID card (which is also an NFT) and platform tokens to hold the ownership of assets in the game and then after they use NFT as a tool to do liquidity mining to get the token Calit (also assets), DeFi can help them get real wealth by realizing game assets as DeFi can make assets liquid. This is also the reason and also the purpose of the vast majority of players’ entering GameFi, which can be also explained “Play to Earn (play while earning)”.
Compared with traditional games, GameFi solves a major negative point in them that players are in a weak position and have no dominance. In traditional games, the equipment and characters which players have spared no efforts to collect or build may be depreciated or even abandoned due to unexpected facts such as the addition of new packages and version updates performed by developers. In addition, players can only be consumers all the time. Even if they can profit from the sale of some game components on a third-party platform, they still need to take certain risks, and the act of selling has neither guarantee nor stability.
In PUGG, an upcoming metaverse portal platform in the field of ChainGame, NFT’s based on blockchain technology can not only symbolize players’ identity and verify their assets, but also enable them to trade their game items and transfer their assets through Layer 2 cross-chain technology, which truly give the dominance back to players in a decentralized way.
Moreover, although many projects in the GameFi field are trying Layer 2 technology, PUGG has grasped it and then instead of stopping there, PUGG further applied the visualized transmitter of commercial aggregation to assist cross-chain and enable players to make visualized transactions of in-game assets at the same time. This technology not only allows players to see clearly where each Calit comes and goes, but also allows them to display their treasured NFT’s in their wallets, which may thereby attract amiable friends or adorable companions in the game, just like how Wade showed Artemis the cool gear in Ready Player One.
It can be said that the blockchain game is not just a simple game, while it is also a new system for the creation and distribution of virtual assets or of digital wealth. The innovative GameFi projects, represented by PUGG, have just seen the broad technical and commercial possibilities in blockchain games, so they boldly developed and introduced the SocialFi mechanism and committed themselves to building a blockchain UGC (User Generated Content) platform, contributing to the construction of the Metaverse and progressing to touch the future of the Metaverse.
