The widespread blockchain technology and the introduction of cryptocurrencies are rapidly advancing blockchain-based gaming. GameFi is the term for the combination of DeFi and gaming, where gamers can earn financial incentives by playing. By improving their characters and leveling up, players can create value that, because it’s stored on a blockchain, belongs to them and not the game developer.

Bitcoin introduced the world to blockchain technology and the concept that people can exchange value from peer to peer without the involvement of a government or bank. The Ethereum blockchain then introduced the concept of smart contracts and decentralized applications.

These innovations encouraged early adopters to develop blockchain technology and cryptocurrencies. The next wave of adoption will come from a younger generation. These people spend their time playing games. But the current business model of gaming means these people are making money for game publishers instead of making it for themselves. GameFi is completely changing this by giving the incentives and value back to the players.

One of the most interesting aspects of this revolution is that it can happen anywhere. As such, it is an important way of creating wealth for people in developing countries. All that is needed for this new potential wave of financial inclusion is an internet connection and a computer.

However, in order for the blockchain to really take its place in the gaming world, joint and conscious efforts must be made to discover, launch and support blockchain-based games. This is being addressed through a new initiative announced in September called Iron Sail.

Set sail

Iron Sail is a collaborative effort to help develop blockchain leeway. This is done through collaboration and financial support for these games.

Iron Sail aims to make blockchain game development more accessible and sustainable. Accessibility means helping game developers adopt blockchain technology and providing amazing opportunities for investors. Sustainability means supporting developers who have committed themselves to a long-term plan and building a “game-before-gain” community with gamers and content creators at the center of the project.

Iron Sail is working towards the open metaverse – a connected future where everyone and everything is connected and where online and offline experiences flow together. The team wants to apply a global standard to all of its games and open it up to all players from other games. For example, the items and characters can be played in different games instead of only being allowed in one game.

Iron Sail has discovered seven promising blockchain games and raised over $ 25 million in investment for their development from a number of high-level investors including Kardia Ventures, Morningstar Ventures, Eternity Ventures, Bitscale, Formless Capital, Youbi, Axia 8 Ventures, Polkastarter , Good guild game and mask network. When investors come on board at Iron Sail, they will receive dividends in proportion to the amount of money invested and can also participate in additional hunts for other promising games.

Iron Sail’s incubator, KardiaChain, is based in Asia and has agreements with some of the best gaming studios in the region to endorse Iron Sail. These include Topebox, Wolffun, IMBA, Hiker Games and Divmob.

The first game, Mytheria, is the first play-to-earn and create-to-earn game for the crypto industry and allows players to “farm” items that can in turn be converted into blockchain collectibles. The game will also feature hundreds of gods from different pantheons for players to interact with. Unlike many existing blockchain games, Mytheria is designed to be completely free with lots of opportunities to earn money.

KardiaChain is an infrastructure game that will act as the backbone of the wider GameFi movement. Since launching its mainnet in 2020, KardiaChain has been committed to serving the blockchain industry in Vietnam and Southeast Asia by bringing the region’s first interoperable blockchain to regional game developers and users.

The goal is to make KardiaChain the leading GameFi platform in the world. This is an achievable goal considering that the average gamer only needs to play two play-to-earn games per day to earn a full-time income. More than 45% of Vietnamese gamers between the ages of 16 and 34 play video games every day. Based on these statistics, KardiaChain is opening a game hub for Vietnamese game developers to develop their best ideas directly on the blockchain.

The play-to-earn incentives mean blockchain-based games could reach billions of dollars in market cap, like their console-based ancestors. Gamers around the world can benefit from these new blockchain-based dapps as decentralized games and non-fungible tokens (NFT) become mainstream. By combining the decentralization of the blockchain, the financial incentives of crypto, and the fun of gaming, GameFi can create a new form of digital financial income for people around the world.

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