GameFi has been threatening to insert itself within the traditional gaming industry ever since the unexpected rise of Axie Infinity. It attracts gamers by allowing them to raise capital while having fun. Gamers can earn rewards by completing in-game tasks, competing with other players, and progressing through game levels. It also allows them to transfer their assets outside of the game to trade on cryptocurrency exchanges.
The rising adoption of cryptocurrencies has enforced gamers to become familiar with concepts about the digital currency industry. In addition, gaming organisations and publishers are constantly searching for methods to improve their gaming development and blockchain networks.
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Xchange Monster (MXCH)
Xchange Monster (MXCH) is a new, unique GameFi platform aiming to serve as the main cryptocurrency platform for the gaming community and blockchain developers. The ecosystem will offer a decentralised payment gateway and an exchange platform for users. The native token of the project is MXCH, this powers the Xchange Monster network and offers multiple use cases for developers and the community.
The Xchange Monster business model is simple and enables the user to generate revenue and maintain a consistent cash flow. The ecosystem has low costs for its users, enhanced trading facilities, and increased interaction between publishers and the gaming community.
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The business model will support a wide variety of in-game currencies. These cryptocurrencies will be available for withdrawal as cash or used in Monster Pay (the payment gateway). Developers who do not wish to create their own in-game currency can use MXCH if they so desire.
Regulation and trust in blockchain technology are vital aspects to consider during development. The team has taken this into account when designing the platform. Xchange Monster holds a membership with VQA, a financial standards association recognised by Swiss regulators FINMA (The Swiss Financial Market Supervisory Authority). This is a huge advantage as this ensures the platform is safe and trustworthy. As a well-secured cryptocurrency platform, Xchange Monster (MXCH) can contribute to the development of the gaming crypto market and promote its growth!
The Sandbox (SAND)
The Sandbox (SAND) is a blockchain-based gaming platform where players can build and monetize their progress using non-fungible tokens (NFTs) and SAND, the platform’s native token. Players can create digital assets in the form of NFTs and upload them to the marketplace.
TheSandbox (SAND) network is made up of integrated products that combine to provide a unique experience for the production of user-generated content (UGC). Sandbox allows users to secure the ownership of UGC by implementing NFT standards.
Sandbox also offers an NFT Marketplace that allows users to trade in-game assets using SAND, the native cryptocurrency of The Sandbox.
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Decentraland (MANA)
Decentraland (MANA) is a metaverse project initially presented to the public in January 2020. The platform is governed by its users and scaled according to their investments within the network. Users can customise their avatars and progress through the game by earning MANA and exploring Decentraland.
Decentraland’s core purpose is to create a real-life simulation, allowing users to create digital environments, and build communities. It also functions as a platform where users can buy digital art, make trades, and acquire in-house equipment that will contribute to their progression in the game.
One of Decentraland’s main characteristics is that key decisions are made by its community. The community can vote on changes and improvements to the ecosystem.
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Will GameFi Take Off?
The gaming cryptocurrency market will continue to grow with the continuous emergence of new projects. The Sandbox and Decentraland have been successful in the push for GameFi adoption, attracting a new audience to the world of cryptocurrency. Xchange Monster seems certain to follow suit with a unique concept that will give users a simple experience that benefits gamers and publishers. MXCH could be the missing piece of this industry.
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