Recently the world of GameFi has been an ever changing and evolving domain with many start-up projects racing to get ahead by releasing early versions of their play-to-earn game. The concept is clear, the more you play, the more you earn. The rewards usually come in the form of the game's native token which is then available for trading on some DEXs, but still, in the early stages, there are limited options for exchanging your tokens for other, more stable, currencies.
Nevertheless, GameFi is expected to take off in the coming years as developers and users alike understand the mutually beneficial model behind the play-to-earn concept. The issue of trading these in-game assets though is one that needs to be addressed before the system can really take off, and that is exactly what Xchange Monster (MXCH) is looking to do.
Xchange Monster will partner with gaming companies to allow their native token MXCH to be used for purchasing in-game assets and potentially used as the native currency for rewards. The rewards will tradedable on the Monster Exchange and stored securely in their Monster Wallet. From the Wallet, you can also cash out your rewards and tokens into Fiat or deposit them directly to your bank.
Xchange Monster is well-positioned to be able to link the world of gaming and finance together by providing a platform that is essential for the development of the industry and will allow users greater fungibility over their assets.
The company is currently in the initial presale stage of its token MXCH. It can be purchased via visiting its website. If you are interested in the world of gaming and the developments of GameFi then you should check out their website and whitepaper to learn more about the project.
One of the most hyped Metaverse projects is Decentraland (MANA). Decentraland allows users to build their own virtual world and customise every detail by in-game purchases via their NFT marketplace using their native token MANA.
The project has been touted as the Minecraft of the future which is a bold statement given that Minecraft is, one of, if not the most successful game in recent times. However, given the autonomy of the platform, and how you can build and interact with other users the comparisons are obvious. While you can interact with other users in Decentraland, currently you are only able to do so in an independent environment. This means that users will see different images and interact with the virtual world independently, as changes in the environment are not shared across users.
This is something that we expect to change in the future and will be an excellent addition to the evolution and success of Decentraland. Nevertheless, the project offers users complete fungibility of assets and a level of interoperability within the virtual domain that very few other projects allow.
Decentraland is one of the pioneers of the Metaverse and as the evolution continues expect Decentraland to be an industry leader.
The technology behind building and empowering the Metaverse is essential for successful projects to emerge and the ecosystem to grow. Solana (SOL) is one of the most popular layer-1 blockchains that developers use to build out these Metaverse projects. One of the most hyped Metaverse projects is built using Solana and that is Star Atlas.
Star Atlas is a GameFi Metaverse project that has chosen Solana as its blockchain of choice because of Solana’s commitment to decentralisation, the ability to link an NFTmarketplace seamlessly, and the potential that Solana has in being the trusted network to power the Metaverse.
Solana has been ramping up their expansion plans recently with the announcement of its flagship phone, Saga which will further connect the world of Web3 and the Metaverse to users. With these developments, coupled with strong technological fundamentals the future looks bright for Solana.
The Metaverse and GameFi are expected to be the next generation of gaming and getting in early with projects and protocols that will enhance the developments of the new industry could lead to strong monetary gains. As always it is imperative to do your research, but don’t miss out on being a part of the transition into the Metaverse and GameFi.
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.