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#Post#: 751-------------------------------------------------- |
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GameFi - A way out for low-skilled workers� |
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By: Ming Zhang Date: February 28, 2023, 8:46 pm |
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Although the COVID-19 pandemic has deprived many people of work, |
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it has also accelerated a wave of technological development, |
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accelerating the social transition to the era of the Industrial |
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Revolution 4.0. In this wave of innovation, blockchain |
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technology in the crypto economy has introduced entirely new |
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forms of work. |
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In crypto, smart contracts connect everything. These smart |
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contracts allow us to create new Labor To Earn models, expanding |
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earning opportunities for many people around the world, |
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especially low-skilled workers. New Labor to Earn models |
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include: |
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-Learn to Earn & Participate to Earn: Users get paid just by |
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using a certain protocol. |
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-Create to Earn: Users can create artwork (via NFT) and music |
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playlists to earn tokens. |
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-Play to Earn or GameFi: By far, this is the most advantageous |
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form of making money. They allow players to participate in the |
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development of the game and earn money just by playing the game. |
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In fact, when the COVID-19 pandemic hit the Philippines, many |
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people in the city of Cabanatuan north of Manila started playing |
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gamefi, to earn money to make ends meet while in lockdown. |
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College students who can't find a job, unemployed drivers, old |
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men and women whose business is sluggish because of the |
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epidemic, etc. have all found a way out in GameFi. |
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What is GameFi? |
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Normally, in traditional game business models, all the revenue |
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goes to the publisher, but GameFi is trying to build game |
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universes owned by players, giving them the freedom to play the |
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game and made money. GameFi creates a player-owned economy, by |
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allowing them to trade items and earn more by playing games. |
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Why is GameFi attractive in developing countries? |
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The best example of this GameFi phenomenon is Fairy Cat |
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(fairycat .net). Fairy Cat is a blockchain-based game in which |
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players adopt magical cats called Fairy Cats and collect |
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treasures with them. Players who complete daily quests will earn |
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an in-game currency, called Gold Diamond (GD). GD can be |
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exchanged for USDT coin. |
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Fairy Cat represents a new business model based on blockchain, |
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where game creators share their revenue with players. Every |
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dollar that players earn can go straight to the developers' |
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pockets. However, instead of charging access, selling ads, or |
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forcing users to buy in-apps and keep all the profits for |
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themselves, the developers of Fairy Cat decided to share the |
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profits with players, hoping that The game will be widely used. |
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To better understand the operation model and profit sharing of |
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Fairy Cat, you can refer to: fairycat .net - code: HycaV4 |
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Conclusion |
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It is undeniable that GameFi is an attractive proposition for |
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the unemployed or low-skilled workers. Especially, for young |
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people, this is one of the few areas where they have an |
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advantage over experienced elders thanks to their relatively |
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abundant time and technology skills. Furthermore, GameFi allows |
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anyone to convert wasted time into income with relative ease. |
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Now you can use your time waiting for the bus or queuing at the |
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bank to earn a little extra money. Instead of surfing TikTok or |
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watching Youtube, you can play games to earn money. What do you |
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think about this new way of making money? Please comment below |
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to discuss with us! |
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