The distinction between Blockchain Gaming and GameFi

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  • GameFi is derived from DeFi and describes financial protocols with gamified mechanisms. Blockchain Gaming is a game-first project with a monetization mechanism.

GameFi vs Blockchain Gaming

Gamified Finance or GameFi is a completely different concept than blockchain gaming, but is mostly used interchangeably in this space.
GameFi is the term most commonly used to describe gaming in the crypto space since the industry boomed in his 2021.

The term has evolved from previous concepts to describe financial protocols built on blockchain, such as exchanges, staking and lending protocols. Since gaming protocols started offering financial incentives thanks to the boom, the community has dubbed this new field GameFi.

One of his members of such a community is Aleksander Larsen, co-founder of Axie Infinity. He shared a statement explaining the difference between the two concepts on his October 2nd just before ending his trip to Singapore for his token 2049.

However, the PlayToEarn concept began to change as the economic sustainability of the previous model was questioned. This change also meant that some members of the community did not believe that “GameFi” as a term captured the true essence of modern game projects.

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