How Is Cryptocurrency Gamifying the Financial Markets as We Enter 2022?

Source : coinquora.com

  • CoinFantasy, the first decentralized fantasy gaming platform for crypto stock markets with a Play to Earn model.
  • CoinFantasy building portfolio is now accessible to anyone.
  • Gamification continues to take the technological world by storm.

Building games around accomplishing goals and achieving milestones has led to greater productivity, better engagement, and higher motivation among players. In September,news emerged about how the Colombian government chose to fund an application, board game, and book to foster financial literacy among young people.

Gamification has piqued the interest of many across the crypto and blockchain world as innovators embrace the use of gaming and design techniques to better engage users and make tricky crypto-related concepts easier to grasp. The global gaming industry has plenty of lessons to teach other industries and only continues to grow – as a recentNewzoo study notes the worldwide gaming ecosystem now counts more than 2 billion participants.

GameFi: Revolutionizing The Player/Developer Relationship

The marriage between cryptocurrency, blockchain, and gamification has led to a new phrase – ‘GameFi – combining gaming and decentralized finance (DeFi) GameFi has made waves as gamers own the value they create themselves in contrast to the traditional gaming industry where value is owned by the developer.

The ability for gamers to maintain control over their own value ranks as one of GameFi’s largest advantages. Many within gaming decry the lack of transparency and trust between developers and gamers. As blockchain continues to carve out a place in the gaming world, the ensuing economic impact also spills over into the financial world as gamers and players embark on paths to wealth creation.

GameFi allows people to take advantage of digital assets and gaming with just an internet connection and a computer no matter where they are located.

Some argue the future expansion of GameFi will have to come through platforms that can serve as locations where players can discover and support blockchain-based games to fuel crypto gamification. Several projects, including CoinFantasy, have stepped up to meet the challenge of allowing crypto investors and traders to participate in the virtual world and contribute to the gamification of the wider financial market.

As the globe’s first decentralized fantasy gaming platform for crypto stock markets with a Play to Earn model, CoinFantasy users can select a lineup of coins to build a portfolio and compete with other players to earn real money. The unique zero loss gameplay ensures users earn by just playing. There are different categories of game in CoinFantasy such as Players against other Players & Players can also join any game pool and compete against a group.

According to CoinFantasy, championships and tournaments will be held with the potential for players to earn large amounts of prize money. Finally, players can compete against the house to earn, level up, and learn more about the CoinFantasy platform. The gamification of crypto stock-markets also incentivizes users to engage and earn rewards to level up and mint rare NFTs that also give bonus points. NFT elements include a custom illustration, category, a specific ecosystem and level, and other components. The gamification of portfolio management has immense ramifications for the financial industry. Traditional players have long dominated and smaller investors have lacked the capital to muscle into the portfolio management world.

Crypto Projects Like CoinFantasy Stepping Forward To Gamify Financial Markets

WithCoinFantasy, building a portfolio is now accessible to anyone without risking the financial loss of actually buying the asset itself. The gamification factor through a fantasy football-esque approach to selecting assets is a familiar and easy-to-understand methodology.

Social trading and interaction plays a large part in projects like CoinFantasy. Users who play constantly and level up earn progress badges they can show off to friends and other CoinFantasy players. As users progress, they will also collect APY rewards from the CoinFantasy reward pool. Gamers can even stake funds on their favorite players in CoinFantasy and collect passive income.

GameFi with CoinFantasy is also enhanced through the platform’s metaverse featuring clubs for each cryptocurrency token. Users who progress can become eligible for special events, collectibles, and in-game merchandise sold for each of the clubs.

The CoinFantasy ecosystem also features Gaming as a Service, providing white-label service for platforms interested in using CoinFantasy’s game, a launchpad so IDO/EDOs can be gamified, lead generation for exchanges, and the ability to subscribe to the best performing token sets based on CoinFantasy data to optimize a portfolio.

GameFi continues to open up new avenues for financial inclusion while bridging the gap between the digital asset world and traditional markets.

Gamification only looks to intensify as blockchain technology and crypto continue to gain steam and developers innovate to find more ways to retain and engage users over the near future.