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GameFi: The perfect symbiosis of blockchain, tokens, DeFi, and NFTs?

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  • Proelss, Juliane
  • Sévigny, Stéphane
  • Schweizer, Denis

Abstract

GameFi is a portmanteau of “game” and “finance.” The concept involves blockchain games that offer economic incentives to play, otherwise known as play-to-earn (P2E) games. We explain in detail how GameFi differs from traditional games, and carve out its unique value proposition. We also explore how the mechanics of blockchain games influence the social facet of P2E games, where guilds and clans essentially function as profit-sharing organizations. GameFi leverages disparate elements of the crypto space: tokens, DeFi, and NFTs. Lastly, we discuss in detail some of the challenges of GameFi.

Suggested Citation

  • Proelss, Juliane & Sévigny, Stéphane & Schweizer, Denis, 2023. "GameFi: The perfect symbiosis of blockchain, tokens, DeFi, and NFTs?," International Review of Financial Analysis, Elsevier, vol. 90(C).
    • Handle: RePEc:eee:finana:v:90:y:2023:i:c:s1057521923004325
    DOI: 10.1016/j.irfa.2023.102916
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    More about this item

    Keywords

    Blockchain; Cryptocurrency; DAO; DeFi; Gamification; GameFi; Metaverse; NFT; Play-to-earn (P2E); Web3;
    All these keywords.

    JEL classification:

    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • P18 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Energy; Environment
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices

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