GaFin And Its Role in GameFi Explained
GaFin's mission is to build an all-in-one GameFi powerhouse to create a massive digital community for gaming.
The trend of blockchain technology is arguably at its prime. Many are exploring blockchain applications to drive monumental drifts across numerous industries. On one end, blockchain advocates are just expressing their pure enthusiasm. On the other hand, market movers are devotedly building platforms and capabilities in an attempt to create immense value in people’s lives.
One of these prospective players in the market who want to mark their presence in the blockchain industry is GaFin.
What is GaFin?
GaFin is a Vietnam-based start-up that just recently launched in Q2 of 2022. Its mission is to build an all-in-one GameFi powerhouse to create a massive digital community for gaming. In the crypto world, gaming groups, or gaming guilds, are a means of connecting gamers with relevant entities such as investors, into one single platform to facilitate the exchange, sharing, and support of different matters relevant to games.
In traditional gaming, these types of groups have existed for a long time across platforms like Facebook and Discord, and even within gaming programs themselves. However, with the rise of GameFi, these platforms struggle to bridge the gap between traditional gamers and blockchain games. GaFin steps in to alleviate this difficulty.
What is Guild Core?
GaFin has designed a social space called “Guild Core”, which assembles passionate gamers in one large platform in order for them to connect with each other and be part of the global GameFi ecosystem. Guild Core allows several guild owners to enter the platform and build their own communities, giving gamers access to a pool of different guilds. Moreover, within these different guilds, owners can use GaFin’s platform to also organize special programs or promote educational content to help gamers strengthen their knowledge about the new space.
The fun does not stop there. GaFin elevates the game for developers who are initiating new blockchain gaming projects. Not only do game developers get access to a wide pool of players in Guild Core, but they can also be part of GaFin’s very own fundraising platform.
What is GaFin’s Launchpad?
GaFin’s Launchpad feature consists of a decentralized platform that allows game developers to raise capital and launch their newly founded projects. Developers are able to launch their GameFi project using the following approaches:
Initial Game Offering (IGO) – This helps developers raise capital for their blockchain game development, while also giving gamers early access to the game.
Initial DEX Offering (IDO) – This is a fundraising hosted by project creators to support the launch of a newly minted coin or token.
While offering all these special opportunities, GaFin takes it a step further by also providing users with the ability to interact in a profitable staking and farming platform within its ecosystem. Users will be able to link their e-wallets and engage in the trading and conversion of gaming tokens and cryptocurrencies.
Meanwhile, GaFin will leverage its research teams to provide stakers with continuous updates. Not only that, but their flexible contracts grant users the ability to unstake tokens at any time through unlocked token offerings.
GaFin’s team also ensures the verification of safety and protects against events like rug pulls, which are fraudulent cryptocurrency projects where developers disappear with investors’ funds and “pull out” before the project launch.
GaFin’s NFT Marketplace
To further elevate the entire ecosystem, GaFin established its own NFT marketplace to buy and trade special digital collectibles. The marketplace enables NFT rentals too, where users can rent out their digital assets for temporary use. This is a great opportunity for lenders to generate passive income from NFTs. On the other hand, borrowers not only get access to the NFTs, but also the entire ecosystem that comes with it. This means that they will be able to enjoy privileged access to communities or other initiatives, and get an experience of something they otherwise would not be able to afford.
Exploring GaFin’s roadmap
GaFin’s tentative roadmap is divided into 3 different stages. Firstly, in its “awareness” phase, GaFin aims to raise recognition for its brand through the launch of several events and community-building activities from Q2 to Q3 of 2022. The awareness phase is also where GaFin envisions the completion of the first version of its website, including its staking and launchpad platforms.
Transitioning to the “growth” phase, GaFin strategically plans to organize university blockchain contests and academies to trigger and spread that excitement for GameFi in the market, while also guiding newbies. The GameFi startup also plans to make upgrades to its Guild Core game center and communications, while also launching a test product for NFT rentals. This phase is slated to be finalized between the end of Q1 of 2022 and Q1 of 2023.
Finally, in Q3 of 2023, GaFin plans to execute the “expansion” phase by increasing its amount of streamers. This is with the goal of joining forces with international communities. To strengthen research and development for GaFin’s gaming guilds, the company is also actively looking for funding.
The Rise of GameFi
GameFi has proved to be revolutionary as it boasts of a decentralized way for gamers to earn income from their hobbies. It introduces a unique opportunity for gamers, combining finance with gaming to create a “play-to-earn” incentive.
Through play-to-earn, game creators can monetize their gaming platforms, cover their cost of development and give players the opportunity to use tokens within games to purchase skins, in-game weapons, virtual land, and more. And boom! Just like that, these purchases become transferable investments. Players not only have full ownership over the assets, but they can exchange them for cryptocurrencies, all the while earning from gaming.
It is just the beginning of what can be perceived as a revolution in the gaming industry.
Who thinks gaming is a bad addiction now?
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