Is GameFi legit? Or just another Sham in the Crypto verse?
Cryptocurrencies, tokens, and Initial Coin Offerings have had their share of ups and downs in the past couple of years. However, the constant variable is the hype surrounding the new concepts associated with crypto. New blockchain technologies and protocols are on the rise that has entered into a solid partnership with video games.
Gamefi is defeating the odds, it can no longer be considered a fraud or a scam. The gamefi market is real and it has billions of dollars pumping in and out with a market cap of $11.6 billion and a daily trading volume of around $2 billion.
Your world and characters are liked by others, you sell them and earn real money. This is gamefi in the simplest of terms.
However, not every gamefi project will succeed, some will bite the dust. It is up to the investors to figure out where to invest and which projects to avoid.
At the moment, the experience is mixed, the games are a bit craggy, and the majority are still reluctant to migrate.