The Role of Modern Gaming In Making DeFi More Popular
Decentralized finance (DeFi) systems have risen in popularity in recent months, garnering cult-like followings as a result of a bullish cryptocurrency market.
Polkadot ($DOT), Solana ($SOL), and Chainlink ($INK), to mention a few DeFi-focused tokens, have had euphoric moments in the markets and are continuing to gain considerable momentum as important advances occur.
Given the audacity of organisations such as the Solana Foundation and Houbi Ventures in investing in early-stage blockchain-based gaming platforms that incorporate DeFi into their systems, investors and speculators should expect much more in the future.
The expanding play-to-earn paradigm has the potential to highlight the benefits of blockchain technology in the gaming industry and beyond.
Games Make DeFi More Comprehensible
DeFi Land is a multi-chain agricultural simulation game that offers a gamified decentralised financial experience. The game was founded in 2021 and is mainly dedicated to providing educational and entertaining solutions for individuals interested in learning more about the DeFi industry.
The agricultural simulation in DeFi Land has all of the elements you would expect to find on a typical DeFi platform. According to its creators, the DeFi Land ecosystem, unlike most other DeFi systems, is capable of functioning on other well-established platforms like Uniswap, and PancakeSwap.
On DeFi Land, each digital asset is represented by a plant, which acts as a visual representation of the item. The SOL token from Solana, for example, is symbolised by a sunflower. Users may farm these tokens to gain a yearly percentage yield, which manifests as a bountiful harvest for them.
Gaming Has Entered A New, Fresh Phase
The link between the DeFi sector and the gaming industry benefits both parties concerned. On the one hand, the ability to monetize time and progress will enable gamers who spend endless hours and money on gaming platforms to benefit.
DeFi systems, on the other hand, will benefit from a streamlined process for onboarding new users, which will aid in increasing popular adoption.
Experts predict that the play-to-earn trend, as seen in DeFi Land, will further blur the lines between financial assets and in-game collectibles, which were previously seen as worthless by the general public.
As a result, a new generation of gamers will be able to exchange in-game assets outside of the boundaries of a gaming platform.
The video game industry is worth around £125 billion, and the DeFi sector is worth about £75 billion in total locked value, thus a merger of these two businesses may be revolutionary.
Furthermore, blockchain-based trade games like AXIE Infinity and Splinterlands show that a play-to-earn business model has the potential to not only disrupt the gaming industry, but most importantly, to alter how consumers learn about and engage with DeFi.
Share Your Thoughts!
Have you ever tried any game that incorporates the DeFi system just like DeFi Land, AXIE Infinity or Splinterlands? Share your experience with us in the comments below.