The Evolution of GameFi – Will Xchange Monster (MXCH) Match the Trajectory of Decentraland (MANA) & Gala Games (GALA)
GameFi is one of the hottest sectors in Web3. GameFi, a portmanteau of the word game and decentralised finance, refers to blockchain games that offer money-making opportunities. Incentives are offered to players who typically earn in-game rewards like; crypto tokens, avatars, NFTs through completing tasks, and exploratory virtual land. It allows the gamers of today to do what they love most while being paid for it.
Previously, video games were monitored and controlled by centralised servers which were owned by gaming companies, who had the power to do as they wished. Players had no ownership of anything they achieved within these games, or items they had accumulated through character activity such as items of clothing, prizes, and weapons. Digital assets that have no real value in the outside world.
As opposed to traditional video games, play-to-earn (P2E) games allow you to transfer and buy any in-game asset from the virtual world to the real world, this is due to its decentralised nature and dependence on blockchain technology.
We will be taking a look at one of the new gaming cryptos Xchange Monster (MXCH) launching in the third quarter of the year and two well-known gaming crypto Decentraland (MANA) and Gala Games(GALA).
Gaming Inspired Crypto Xchange Monster (MXCH)
Xchange Monster is an easy-to-use crypto platform that unites both developers and the gaming community, through the formation of a value-driven ecosystem. It is a unique GameFi platform that aims to address all the current problems of the industry. The MXCH team aims to strengthen the interaction with the gaming community and operators for an enhanced and vastly improved gaming experience.
Xchange Monster has a simple yet effective business model that will allow an effortless accumulation of revenue ensuring consistent cash flow. It is a crypto platform designed to enhance trade, and transactions and improve communication between operators and gamers while charging affordable prices. Users will be disavowed of transaction fees, that’s right -no charges on deposits, future settlements, or withdrawals.
Gamers Love Gala Games (GALA)
GALA is the main token used in the Gala Games Ecosystem. Their objective is to combine blockchain technology with decentralised gaming, enabling players to take the reins of gaming without relying on centralised entities.
The GALA token is used to purchase in-game items and can be earned from running a node. The Founder’s nodes voting system allows players to influence what games Gala should develop and what games deserve financing. It’s possible to purchase a node and run it on your computer, GALA tokens are rewarded to all node operators.
Gala has released games like Townstar and Spider Tank. More games are on the way.
Welcome to Decentraland (MANA)
Decentraland is an Ethereum-based metaverse that was presented to the crypto world in January 2020. Users can customise their avatars in many different ways through the purchasing of non-fungible tokens using its native token MANA. Let the adventure into Decentraland begin.
Though Decentraland’s core modus operandi is to entertain its users. It does this in a variety of ways, allowing users to customise digital environments that provide the architecture to build games and themed communities. It also functions as a metaverse platform where users can buy digital art, trade with people, and even receive a prestigious education at the Decentraland University.
All this is credited to the smart contracts of Ethereum. Forging a link between metaverse technology with Decentraland’s economy and participants’ ideology.
Final Thoughts on GameFi
The GameFi sector has garnered a lot of attention and momentum already with the likes of Decentraland (MANA) and Gala (GALA) cementing themselves in the growth of the gaming industry. Now it is time that Xchange Monster (MXCH) continues to carry the torch, with their presales doing impeccably well, it seems that the GameFi expansion continues. It is of course important to conduct thorough research before purchasing tokens.