GameFi is the combination of DeFi and NFT
In the past month, the metaverse on GameFi seems to have taken over the fire that DeFi ignited the entire market last year, making everyone aware of the potential behind it.
GameFi is actually the inevitable result of the development of DeFi and NFT, DeFi succeeded in entering GameFi, and NFT was given commoditized value through financial means. The game supports the application value of DeFi and also gives NFT asset value. Therefore, in all cases where gamification and scarcity management are the purpose, the combination of DeFi and NFT become important, and the three rely on each other to develop in coordination.
One of the most fascinating concepts in GameFi is the metaverse. Metaverse is a network of virtual environments in which players can freely circulate value and data without switching their online identities. The importance of the virtual world is growing exponentially, because Metaverse aims to become a space medium that promotes the formation of communities to create, play, trade, and socialize.
In addition to the development of “The Sandbox”, the mainstream has also begun to participate in the metaverse project in a fairly visible amount. For example, the Coca-Cola Company collaborated with Decentraland to launch its first NFT series in a virtual world. Burberry and Blankos jointly launched the NFT series based on the fashion brand and sold out in a few seconds.
The project called Sandbox, as the most eye-catching existence in the entire metaverse market at the moment, the price of its token Sand has risen from 1.1 U.S. dollars and broke through 8 U.S. dollars in just one month, achieving an increase of several times.
Visual blockchain finance expressed in games called GameFi
If DEFI is to reproduce the real life financial system in a distributed structure in the blockchain, then GameFi is a visual blockchain finance that expresses DEFI as a game.
GameFi uses the fusion of DEFI and NFT concepts, and presents it as a game to run the blockchain financial system in a more intuitive way. In specific GameFi projects, its game rules, props, and derivatives are built on the logical foundation of DEFI. The operation mode of the above NFT products.
GameFi is also a major breakthrough in the traditional game field. In traditional games, the game account has only the right to use but no ownership for the player. As the developer shuts down the game server. In blockchain games, the game rewards are encrypted assets, which can be bought and sold freely on the chain.
Blockchain games ensure the ownership of digital assets, GameFi’s game mechanism, and the initiative is handed over to players, reconstructing the relationship between developers and players, and possessing great penetration and development potential.
The essence of blockchain is “decentralization” and “hard to tamper with”. The combination of blockchain technology and games gives market participants the opportunity to play fairly, which is difficult to achieve in traditional games.
As various industries are implementing blockchain, the development of blockchain is accelerating. On the blockchain, players can own assets in the game, and these assets have a broader sense of liquidity; the security of asset data in blockchain games can solve the back-end development restrictions and break the monopoly of the head; relative Compared with the traditional game centralized management mode, GameFi has given more application scenarios from the technical level, which is particularly important in future development.
The oracle helps GameFi build a credible ecosystem
One of the major features of GameFi is the ability to generate rare game item tokens (mostly NFT), because the blockchain can provide objective proof of the scarcity of items. When publishing these rare game items, ensure that no outsiders or game developers can manipulate them, so as to protect their value.
This can use decentralized oracles such as ADAMoracle to generate fair random numbers in a verifiable manner, which can guarantee the scarcity of game items. In addition to random numbers, ADAMoracle can also transmit rich data sets for games, such as accessing off-chain event data to enhance the game experience; accessing exchange rate data to achieve NFT transaction functions; and accessing data to connect on-chain and off-chain.
NFT that generated in the GameFi application indicates part or all of the ownership of the physical assets owned by the NFT holder. Using ADAMoracle to create hybrid smart contracts can trigger code logic based on data and activate unique application scenarios on the chain. People can even participate in NFT transactions without holding physical assets.
Hybrid smart contract is a new type of smart contract that combines the security of the blockchain network and the data of the real world, allowing users to use their token assets in unique application scenarios. In addition, you can access off-chain data to create and settle various innovative on-chain derivatives to hedge risks in GameFi. All such hybrid smart contracts need to access existing APIs such as payment data providers and payment gateways, and ADAMoracle can help developers and enterprises easily access these off-chain data and systems, and continue to explore more GameFi applications possible.
ADAMoracle, as the first decentralized oracle that supports wide-area node price feeding, can provide secure, credible, and accurate data transmission services. ADAMoracle is compatible with any blockchain and API, so any block can be linked to any off-chain API. In addition, ADAMoracle not only has distributed data sources, but also thousands of nodes. Such a decentralized oracle network allows the blockchain and smart contracts on the chain to safely interact with data and services in the real world. . Through ADAMoracle, blockchains can communicate with each other and interact with traditional systems, bringing transparency, security and efficiency to meta-universe applications such as GameFi, and building a credible ecosystem.