God stopped making new land…..So, DeFi Land is making it easy for people to become virtual farmers.
What’s Happening?
According to DappRadar, the total volume for Play-to-Earn games crossed $834 Million in the last 30 days. As per the Blockchain Game Alliance study, 1.4 million unique wallets engage with play-to-earn and blockchain games every day, accounting for an impressive 49 percent of blockchain use. In 2022, game-related NFTs and tokens are anticipated to be given far more interest. Play-to-earn initiatives have gotten much attention recently, and that trend isn’t going away anytime soon. In contrast to the large studios, hundreds of independent developers are already working on games that use NFTs as a critical design aspect. The most popular NFTs provide passive income or exclusive rights to gamers.
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What is DeFi Land?
DeFi Land, a multi-chain agriculture simulation game built on Solana, is launching play-to-earn features, allowing DeFi Land’s agriculturalists to enjoy the game and earn rewards through DeFi based play-to-earn game model at the same time. As per the play-to-earn model, the $DFL tokens and a new in-game currency termed $GOLDY provide DeFi Land gamers with in-game tokens, which act as an incentive. Each of these currencies may be used to improve and upgrade the NFTs and other features in the DeFi Land ecosystem.
Play-to-earn features shall be available to those who possess a DeFi Land Gen-0 NFT. DeFi Land, on the other hand, does not need players to put any money into the game. For such a chance at winning monthly rewards like $DFL and $GOLDY tokens and in-game NFTs, users may earn XP and move up the leaderboard in the accessible mode.
DeFi Land is an online game that simulates multi-chain agriculture to gamify decentralized finance. The game provides features seen on conventional platforms but in one convenient location.
DeFi Land allows newcomers to experiment and learn more about the sector in an educative manner without investing any of their own money. Beginners may also get a better understanding of how DeFi works by using a gamified and entertaining platform.
Why should you care about play-to-earn games like DeFi Land?
Throughout 2021, app store consumer spending hit a new high of $170 billion, up 18 percent yearly. Consumers are willing to pay a premium for quality experiences and services for their favourite items, as provided by this Data.Ai report.
As per the report, a typical mobile user will spend an incredible 4.8 hours a day on their gadgets. A rise from the already record-breaking 2020 brought the number of mobile game downloads to 83 billion. As the app economy continues to grow, so does its size. A whopping $320,000 is spent per minute by the public at large on mobile apps. Games such as DeFi Land are the next era of how and where the gaming industry is going to move - a gaming ecosystem: where gamers are provided rewards and incentives for their time spent on play-to-earn games.
The blockchain gaming market is seeing an increase in demand and interest in myriad different ways. Through the rise of play-to-earn games, thanks to Axie Infinity. Along with the growing popularity of blockchain-based games, Venture Capital companies (VCs) have spent $4 billion on their development and production.
Last but not least, there is a general upward tendency in the metaverse and GameFi applications. Since Facebook’s rebranding announcement, the value of NFTs and cryptocurrencies that support this story has risen sharply in 2021. Due to consumer psychology and behaviour changes, 2022 will be a massive year for the gaming industry and games like DeFi Land due to a slew of appealing play-to-earn choices, including AAA titles.
To give an outlook on the growing industry, a million dollars will be spent on mobile applications and games when it takes you to read this article. Play-to-Earn games are pushing this limit further……
How does this impact the GameFi Industry
The launch of play-to-earn gaming on DeFi Land pushes Solana near to being a hub for blockchain gaming. With the rise of transaction fees and gas fees when minting and playing games on Ethereum. The GameFi industry is set to shift to Solana and other scalable blockchain platforms and provide low transaction costs.
As outlined by the Blockchain Game Alliance report, the adoption of digital assets is directly proportional to the adoption of play-to-earn or blockchain games as they account for the majority of the activity on a blockchain platform. Play-to-Earn games are the most user category ahead of Defi and other sectors in the blockchain ecosystems, which has led to an explosion of on-chain activity. As per the report, on-chain activity has increased by a whopping 4,330%, highlighting the importance of play-to-earn gaming as a mode of increasing blockchain adoption and bringing DeFi mainstream through gamification.
Final Thoughts on DeFi Land
We all know that gaming is the soul of life. Gamers play games as it provides them peace, fun and a mode to kill time with style. As a gamer myself, I want to experience games that not only provide me with that sweet serotonin and dopamine hit. But, the possibility to earn tokens meanwhile I spend 30 hrs of my life playing a game which I like! Imagine playing Rome Total War, where you win kingdoms by defeating enemies and earn token rewards for doing so! That’s a product packed with educational material, the hook of serotonin and dopamine and DeFi - is this the future of gaming?
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Image credits: Mika Matin and Jed Owen.