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Senior practitioners such as Maizi Wallet Lu Yaoyuan and Cocos CTO Reed Hong shared their experience and views on participating in GameFi in person.
Original title: “Will GameFi become the second half of DeFi? 》
Author: Li Xiaoping
“Next, we will enter GameFi.” Since Andre Cronje, the founder of Yearn.finance, emphasized GameFi in early September, the concept of GameFi has been widely discussed in the community, and new projects and new gameplay are emerging in endlessly.
There are currently two understandings of GameFi. One is GameFi=NFT+DeFi, that is, the introduction of NFT mortgages in DeFi, such as Aavegotchi, Meme, and Whale projects; the other is DeFi gamification, which converts users’ assets into equipment and flows Obtaining rewards for completing tasks by means of sexual mining, such as the ARCx project, and the DEGO project that was popular before National Day. An airdrop event attracted 48,000 people into the Telegram group within 3 days. The blockchain “scratch music” gameplay made many players addicted .
In fact, the idea of GameFi has a long history. In the second half of 2019, Mary Ma, Chief Strategy Officer of MixMarvel, presented GameFi for the first time in a speech at the Wuzhen Summit, which is gamification finance and a new gamification business; Meng Yan published a paper discussing the issue of game tokenization. He believed that “gamification is the key The only way to prove the economy.” And so on.
Now that GameFi is being emphasized again, it may be a short carnival under the DeFi wave, and it will fade with the tide soon; it may be the next stage of the development of DeFi and NFT, which contains various wealth opportunities. In this context, the Babbitt reporter interviewed three in-depth participants of the GameFi project . They shared their views on GameFi based on their own experiences. The “wealth code” in it requires readers to judge by themselves.
Lao Lu: The current GameFi is that the DeFi property is greater than the Game
Lu Yaoyuan is the product manager of Maizi Wallet and an early participant in the NFT and DeFi projects. He is called “Lao Lu” in the circle. In his opinion, the proposal of GameFi is not sudden. When the market confuses DeFi and liquid mining applications, the latter’s routine is well known by users. Micro-innovation is difficult to become a new hot direction. Based on DeFi and liquid mining applications GameFi has become the focus of market pursuit. And GameFi itself is a concept of dynamic development.
The early GameFi was a satire of DeFi gamification. “Emerging applications are the banner of large-scale liquidity mining. Assets are equipment. Participating in DeFi is like copying. DeFi players become game players.” Players’ front-end and contract of DeFi applications Make judgments with the audit endorsement and choose whether to participate.
The DeFi front end is equivalent to the UI of a game, and a game with a beautiful screen can always attract a large number of players.
The DeFi contract is equivalent to the game’s mode and the difficulty design of the copy. Choosing Pool1 or Pool2 (liquidity pool), lossy or non-destructive all belong to the game design.
The audit endorsement of a security agency is like a product produced by a major manufacturer, which is a key factor for players to judge whether a game can be popular.
But the biggest difference between the two is that the game can be restarted. Once GameFi steps into the pit and falls into a copy of Hell difficulty, the assets (equipment) will be permanently gone. In the end, the full-level player wore a magical outfit, breaking through the major dungeons one by one, and the novice players struggled to open up wasteland. The income may not be as good as the gas fee. DeFi and games are cruel.
NFTFi was later derived from GameFi, but its essence remained the same. “Blockchain and games make people involuntarily think of NFT. DeFi and NFT then collide with a new type of GameFi, which is essentially a game of capital.”
For GameFi, Lao Lu is an enthusiastic participant and a calm observer, just like his cool ponytail under the brim of his black hat. He said frankly that compared to liquid mining, it is easier to maximize profits by directly purchasing tokens from projects such as WCK, MEME, and DEGO. Doesn’t this bring him freshness?
“Participating in the GameFi project depends on the founding team rather than market rules. For ordinary users, the higher the on-chain fee, the more difficult it is to understand GameFi’s gameplay logic. The humanities and history involved are more difficult to understand than DeFi applications. . Therefore, it is not recommended to invest heavily in GameFi projects, just use a small amount of funds to participate in top popular projects, there will be a head effect similar to YFI. If the funds are sufficient, after multi-dimensional research, you can participate in lossless GameFi.”
If DeFi and traditional finance form a parallel system, then the emergence of GameFi does not seem to solve the existing pain points of the industry. “The ideal GameFi must have a 2D or 3D game experience. Players have virtual characters, and participation in it should also have stronger gameplay. The DeFi property of GameFi in the current market is greater than that of Game.” Lao Lu looks forward to the emergence of GameFi projects with higher production standards.
Reed: GameFi is to incorporate more fun elements into DeFi
Reed Hong is the chief technical expert of Cocos-BCX and has a strong curiosity and desire to explore DeFi.
More than a month ago, he conducted DeFi research and sharing within the Cocos-BCX team, and analyzed the reasons for the hot DeFi including the long-term bear market value-added demand, the bull market expectations such as Ethereum 2.0 and the Bitcoin halving cycle, and FOMO liquidity mining. Mine and building block development agreement.
Finally, he suggested to every colleague: take out 1000USDT to try various DeFi applications.
Reed believes that FT (homogeneous token) is not enough to describe certain scenarios of DeFi applications, so NFT is needed to supplement it. NFT and games are closely connected, and GameFi is naturally proposed. Additional gamification elements make the entire DeFi gameplay richer and more interesting.
DEGO is the GameFi project that excites him the most. In his own words, “Try it with two pickaxes, it’s very good.”
DEGO is a DeFi project with a modular design. It introduces a variety of innovative gameplay on the basis of liquid mining, which is called blockchain scratching.
On September 24, the DEGO project team released an airdrop mission. Players can receive V1-V6 NFT “pickaxes” of different levels. The Telegram group swarmed nearly 50,000 people within the three-day airdrop registration period.
On September 27, DEGO opened the airdrop receiving channel. Some players won a V5 “pick” and sold it outside the venue for $800.
On October 5th, DEGO opened its first NFT auction. An NFT named “Satoshi Nakamoto” was sold at a high price of 129 ETH.
“A friend bought a V6 pickaxe with 6ETH and sold a price of 30ETH in Opensea, which made a lot of money.” The friend’s experience made Reed very envious. Of course, he did not show weakness and bought a batch of pickaxes with 30ETH. , This process is very exciting,
“Now is the time to create new gameplay. Innovative things are most popular. It is easy to play DEGO, because if you get a trash (pick), you want to draw a good one. If you draw a good one, you want to try again. “
The success of airdrop marketing and interesting and innovative gameplay have brought DEGO to the forefront of the GameFi market. Data from the Ethereum browser shows that DEGO NFT currently ranks 3rd in Gas consumption, second only to Uniswap and Tether. Some players complained about the high gas fee, and some players who participated in the airdrop did not receive the GEGO NFT due to the gas fee. As a vested interest of DEGO, Reed said, “You have to feel the gunfire on the front line, otherwise it must be almost cognitive.”
Will GameFi be the second half of DeFi? Reed believes that this issue is not important. The industry is developing rapidly, new projects are emerging in an endless stream, and it is difficult to predict the future. The important thing is to actively participate, “GameFi is to incorporate more fun elements into DeFi, but the essence is not separated from DeFi, so safety is always Is the greatest demand.”
Poet: There are big players in the market to promote GameFi hype
Zhang Zhiren is an interesting friend from Taiwan. He has been exposed to Bitcoin since 2012. He currently runs the second largest blockchain Facebook community in the Chinese area full-time. He is called “Poet” because he is like a bard. Share the stories or expert opinions of the great gods you have seen and heard with your friends in the community.
Take DeFi, for example, he observed that the old Leek was discouraged because of the high miners’ fees, and regretted stepping out of the field, while the new Leek did not know how to join the battle. The capital market is often the big one, Hengda, and the real money is the big whales. They have a large body and have the kinetic energy to make waves. However, retail investors have always tried to find ways to survive and continue to accumulate. The strength of risk tolerance is insufficient for retail investors. The original sin.
For example, NFT, he kindly reminded that NFT is a market that needs love to re-enter, because this market has already been brewing various news, such as the rise to the sky AAVE, which is essentially DeFi for the loan relationship, and at the same time introduces various partners , Can not be evaluated with normal eyes.
When it comes to GameFi, the poet does not hesitate to praise ENJ. ENJ is a token issued by Enjin, the world’s largest online game community platform. Enjin is also the promoter of the ERC-1155 protocol standard. Three months ago, he saw a title with the word GameFi on Enjin’s official website, and then realized that there are big players in the market promoting GameFi hype.
“If the momentum of DeFi+NFT is really made waves, then ENJ will be a target of opportunity. As a game company with strong technical strength and a high-end hype project with a long history, Enjin entered the crypto market from the 2017 ICO. After an unscrupulous drop below the issue price, and then a crazy increase of dozens of times from the bottom to benefit all believers. After that, they played with news at different points in the conversion of bulls and bears, such as cooperation with Samsung mobile phones, creating NFTs for Minecraft, etc. “
Like Lao Lu and Reed, the poet is also optimistic about DEGO and successfully recommended more than 50 community members to participate in the DEGO airdrop. In his opinion, the popularity of DEGO does not lie in NFT mortgages, but in the membership level system. “Send NFT to you so that people who understand and those who don’t understand can participate. After catching up with the boom of DeFi and NFT, it will become popular. Get up, this is a very clever way to play.”
In fact, there is not much difference between cryptocurrency investors in Taiwan and the mainland. Making money is always the most important thing, followed by love. The poet said that the U.S. presidential election in October and the movements of the Federal Reserve will determine the flow of funds in the cryptocurrency field for some time to come. He believes that GameFi is not the second half of DeFi, but big players hope so.