GameFi and Play-to-Earn
Blockchain games where players earn crypto rewards — P2E model and its evolution.
GameFi (Game Finance) is a sector combining gaming with DeFi mechanics — players earn cryptocurrencies and NFT assets by playing games.
Play-to-Earn (P2E) model:
•Players earn tokens/NFTs by playing
•In-game assets truly owned by players (NFT)
•Can be sold on secondary market
P2E game examples:
•Axie Infinity — pioneer, Ronin chain, SLP token; 2021 boom, then collapse
•The Sandbox — virtual worlds, SAND token, Ethereum
•Decentraland — MANA token, VR metaverse
•Gods Unchained — NFT trading card game
•Illuvium — RPG on Ethereum
•Star Atlas — Solana space MMO
P2E 1.0 problems:
•Axie collapse — inflationary SLP token without sink
•Pay-to-win dynamics (buy expensive NFT axies to play)
•Financial scheme dynamics (new players pay old ones)
•Game is bad — players only earn, don't enjoy
GameFi 2.0 ("Play and Earn"):
•Focus on fun-first, earnings are bonus
•Better token mechanics (sinks, burns)
•AA gaming quality standards
Institutional entrants:
•Epic Games Store added blockchain games
•Sony PlayStation research
•Ubisoft Champions Tactics