The growing popularity of DeFi (Decentralized finance) has changed the way crypto traders used to make profits or passive incomes.
According to the DeFi data aggregator website, DeFi Pulse crypto assets worth over $92 billion are locked in different DeFi protocols. And now the DeFi game development trend has been on the rise lately and is becoming one of the hottest sectors in the DeFi industry.
The play-to-earn DeFi games have enabled players in countries like Venezuela to earn their daily livelihood from blockchain games and this has had a huge impact on businesses too.
Let us understand how businesses are getting impacted and how you can make the most out of it.
Recently, DappRadar published BGA Blockchain Game Report according to which between June to July 2021, the number of blockchain gamers soared by 121%. This frenzy was driven by the success of play-to-earn DeFi games like Axie Infinity.
Two reasons for that are:
The entire globe underwent long periods of lockdown during different periods in 2020 and 2021. People started trying their hands in the gaming industry and with the crypto space buzzing with promising games, the space attracted more players.
2) Play-to-earn opportunity
The intersection of gaming and the DeFi industry is now popularly known as GameFi. While it allows players to get a share of the tokens of that blockchain gaming platform, the play-to-earn feature helps business models earn capital to keep the further developments going on.
Imagine providing your users with an opportunity to have fun as well as make money. There is nothing more fun than engaging in play-to-earn DeFi gaming that is supported by a strong business model.
Now what is more important to learn is that DeFi is important for today’s businesses. Here is why:
DeFi bring attractive Yields to businesses
Many businesses have idle cash reserves which they cannot lend because of the limitations of the existing financial setups. But DeFi allows any individual or business to lend their idle cash reserves for hefty yields that they could have never imagined in traditional finance.
For example, the DeFi stable coin capital markets allow anyone to generate 4-8% yields. And over time the DeFi protocols have become technically more secure so even the locked funds are safe.
Businesses always depended on traditional finance to borrow capital to finance their operations and further development. However, the traditional finance borrowing and the lending system are severely flawed. The banks charge hefty interest while businesses borrow funds also Small and medium-sized enterprises (SMEs) often struggle to get the loans due to too much documentation. Using DeFi businesses can easily borrow any amount of loans without any kind of restrictions.
Adoption of Blockchain
Adoption of Blockchain in terms of blockchain development, DeFi gaming platform development, or more is one of the most disruptive things that is happening. All this will change the financial markets forever. By being a part of this change at the early stages, business owners can ensure their business stands out in the competition.
You would agree with us that blockchain, DeFi and all are complicated terms that scare the users aways. Even if as a business owner you know the advantages of using DeFi in using business models, DeFi operations might scare the users away and that is where DeFi gaming plays an important role. It provides players with a gamified decentralized finance experience where the business owner can provide them better, faster and secure services without a learning curve.
Also, the gamification of DeFi ensures that business owners do not have to reinvent the wheel. All they need to do is gamify the DeFi applications that they add to their business model.
At Antier Solutions, we bring our best blockchain and gaming development experience into play so that the DeFi gaming platform development fuels the growth of your business.