A catalyst for the widespread adoption of decentralized finance

In the past few months, decentralized financial platforms (DeFi) have gained traction amid a bullish cryptocurrency market. This digital money revolution is now making its way into the gaming industry, creating an interface between DeFi and the gaming experience that experts now say will play a huge role in the next generation of games..TO

DeFi-centric tokens such as Polkadot (DOT), Solana (SOL) and Chainlink (INK)to name a few had euphoric moments in the marketswhich is gaining momentum in the course of further important developments.

Investors and speculators should expect even more going forward, given the bold move by companies like Solana Foundation and Houbi Ventures invest in early-stage blockchain-based gaming platforms that integrate DeFi into their system.TO

A catalyst for the widespread adoption of decentralized finance
A catalyst for the widespread adoption of decentralized finance

The emerging “play-to-earn” model is poised to highlight the benefits of blockchain technology in the gaming industry and beyond. In this article, we examine some of the latest developments in DeFi gaming and discuss what the future holds for this emerging sector.

Games that simplify DeFi

DeFi-Land, a game that is designed as a multi-chain farming simulation and is intended to enable a playful, decentralized financial experience, just raised $ 4.1 million in a funding round that attracted more than 40 investors.

Founded in 2021, DeFi Land is a privately held company based in India primarily focused on developing education and entertainment solutions for users who wish to explore the DeFi space..

DeFi Land’s agricultural simulation is packed with all the features you would find on a traditional DeFi platform. Unlike most DeFi platforms DeFi Land has an interoperable ecosystem that can run on other established platforms such as Uniswap or even PancakeSwap from Binance Smart Chain..

This approach will help DeFi Land not reinvent the wheel, thus giving its users access to automated market-making protocols, decentralized exchanges and the main protocols of other blockchain networks. At DeFi Land, every digital asset is represented in the form of a plant. For example, Solana’s SOL token is a sunflower and USDC stablecoin is a corn plant. Users can farm these tokens and earn a percentage of the annual return, which means a bountiful harvest..

To make it even easier for users to learn the ins and outs of DeFi, DeFi Land offers a practice mode where users can learn all about DeFi with fake assets while playing a guided version of the game..TO

Brian Lee, a senior executive at Alameda Research – one of the companies that participated in DeFi Land’s investment round – said so DeFi Land mixes “two of the coolest things happening in crypto right now: gaming and DeFi”..

Huobi Ventures relies heavily on DeFi® games

With a growing wave of institutional capital pouring into the DeFi space, more and more companies are starting to pay serious attention to the sector., and Huobi Ventures is one of them.

The investment subsidiary of the Huobi cryptocurrency exchange, Huobi Ventures just announced a $ 10 million fund that will invest in early-stage projects that combine a gaming experience with decentralized finance features, namely GameFi.

In addition to financial support from Huobi Ventures, Startups that accept the challenge will also receive legal and technical support for their project from HuobiNot to mention public relations and business assistance.

Unica Yin, director of Huobi Ventures, said: “Blockchain technology has the potential to revolutionize the gaming business model and will play a crucial role in the next generation of games“.

Huobi Ventures also announced that $ 100 million fund for DeFi projects that will supposedly help Huobi establish strategic mergers and acquisitions in the blockchain and cryptocurrency space.

The play-to-earn model

Aside from the investors and developers who drive the play-to-earn industry, Gamer communities and non-fungible token lovers (NFT) They’re also getting involved in the fight, as shown by recent developments like Crypto Gaming United and Zebedee.who have completed funding rounds of $ 5 million and $ 11.5 million, respectively.

Crypto Gaming United, a startup whose goal is to create a global community of players in the “play-to-earn” area, has raised $ 5 million in an oversubscribed first round of funding.. The round was led by leading Australian venture capital firms Mark Carnegie and Chrono.tech.

Crypto Gaming United is an NFT-based gaming players guild with over 1,500 members. The guild operates on multiple gaming platforms, providing players with financial education and knowledge of the digital economy. It makes money by distributing the revenue generated on the sponsored gaming platforms among its members.

Headquarters in Singapore, the guild consists mostly of players from South Africa, India and Indonesia, with a common theme of players from low-income economies. Since most players cannot purchase expensive gaming equipment and goods, guild sponsors can provide funding that enables players to generate income. The guild’s founders also recognize that Singapore is a trend-setting jurisdiction in terms of digital assets and cryptocurrencies.

At Crypto Gaming United we solve the problem of the cost of being admitted to play and enable players to generate income through their gambling exploits.Carnegie pointed this out.

Crypto Gaming United isn’t the only participating organization. Zebedee is also joining the action, as with its Series A funding it has receivedTO $ 11.5 million.

Zebedee offers a range of tools and products that developers can use to incorporate Bitcoin (BTC) into their gamesAt the same time, players get access to wallets, streaming tools and other performance-enhancing gaming infrastructure.

The game is a turning point

The relationship between the DeFi sector and the gaming industry is mutually beneficial. On the one hand, Players who spend endless hours and money on gaming platforms can now monetize their time and progress. On the flip side, DeFi platforms, and the entire industry as a whole, will have an easy onboarding process for new users, increasing adoption by the majority.

Experts are already predicting that The “Play to Win” trend will continue to blur the lines between financial assets and game collectibles that were previously considered worthless. This will enable a new generation of gamers to exchange game assets beyond the gaming platform.

DeFi mechanisms enable various gaming platforms to make the gaming experience not only entertaining, but also lucrative Players can win by simply playing.TO

Blockchain-based collecting and trading games such as AXIE Infinity and Splinterlands already show this a play to win business model not only has the potential to revolutionize the gaming industry, it also changes the way users learn and interact with DeF platformsI.

Given that the video game industry is valued at $ 175 billion and the DeFi space is currently valued at nearly $ 100 billion, an intersection of the two industries could be a real game changer.

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