Decentralized finance (DeFi) platforms have become iconic in recent months amid a bullish cryptocurrency market. This digital money revolution is now infiltrating the gaming industry, creating a cross between DeFi and a gaming experience that experts now expect will play an important role in next-generation gaming.
DeFi-focused tokens such as Polkadot (DOT), Solana (SOL) and Chainlink (INK), to name a few, have experienced exciting moments in the markets and gained significant popularity as mainstream development continued.
Investors and speculators should expect more progress given the bold move by companies like the Solana Foundation and Houbi Ventures to invest in early-stage blockchain-based gaming platforms that integrate DeFi into the system.
The Emerging Game Play model aims to highlight the benefits of blockchain technology in the gaming industry and beyond. In this article, we take a look at some of the latest developments in DeFi gaming and discuss what the future holds for this new sector.
DeFi Simplify Games
DeFi Land, a multi-chain simulation game designed to provide decentralized funding, raised just $ 4.1 million in a funding round that attracted over 40 investors.
DeFi Land was founded in 2021 and is a privately-owned company headquartered in India with a core focus on providing educational and entertainment solutions for users who want to explore the DeFi space.
The DeFi Land Farming Simulator is designed with all the features of the traditional DeFi platform in mind. Unlike most DeFi platforms, DeFi Land has a compatible ecosystem that can run on other existing platforms like Uniswap or even Binance Smart Chain’s PancakeSwap.
This approach is designed to help DeFi Land not reinvent the wheel by giving users access to market-leading automated protocols, decentralized exchanges and leading protocols on other blockchain networks. At DeFi Land, every digital asset is represented as a factory. For example, the SOL token Solana is a sunflower, and the USDC -stablecoin is a cornflower. Users can grow these symbols and receive an annual income in the form of a rich harvest.
To make it easier for users to learn in and out of DeFi, DeFi Land has a Learning Mode where users can learn all about DeFi using fake resources while playing a controlled version of the game.
Brian Lee, senior executive officer of Alameda Research, one of the companies that participated in the investment round of DeFi Land, said that DeFi Land combines “two of the most exciting things happening in cryptocurrencies right now – games and DeFi.”
Huobi Ventures Invests Large In DeFi Games
With the growing wave of institutional capital flowing into the DeFi space, more and more companies are starting to pay serious attention to this sector, and Huobi Ventures is one of them.
Huobi Ventures, the investment arm of cryptocurrency exchange Huobi, recently announced the creation of a $ 10 million fund to invest in early stage projects that combine gaming experiences with decentralized financial features like GameFi.
In addition to financial support from Huobi Ventures, startups that rise to the challenge will also receive Huobi’s legal and technical support for the project, not to mention PR and commercial assistance.
“Blockchain technology has the potential to revolutionize the gaming business model and play an important role in next-generation gaming,” said Yunika Yin, CEO of Huobi Ventures.
Huobi Ventures also announced the creation of a $ 100 million fund for DeFi projects that will reportedly help Huobi pursue strategic mergers and acquisitions in the blockchain and crypto area.
The model plays to make money
In addition to the investors and project developers who provide fuel for the stove that money can play, there are also gaming communities and non-perishable token (NFT) enthusiasts that we have seen with recent developments like Crypto Gaming United and Zebedee, which have managed to close $ 5 million and $ 11.5 million, respectively, in funding rounds.
Crypto Gaming United – a startup that aims to build a global community of gambling guilds to make money – raised $ 5 million in a crowded seed funding round. The tour was hosted by Australia’s largest venture capital firm Mark Carnegie and Chrono.tech.
Crypto Gaming United is an NFT-based gaming syndicate with over 1,500 members. The syndicate operates across multiple gaming platforms and provides players with education as well as financial literacy in the digital economy.