The blockchain is fast spreading its “tentacles” to different consumer sectors, and adoption is at break-neck speed. Over the last decade, the revolutionary technology has proven to be worth its weight in gold, with many applications within and beyond the world of (decentralized) finance. One of the industries getting disrupted by decentralized finance in recent times is the gaming industry. GameFi is the new buzz in the cryptocurrency industry. By bringing together DeFi, NFTs, and the practical application of blockchain technology to the gaming industry. There is currently a paradigm shift taking place as gamers move away from the traditional methods of traditional online games of “pay-to-play”/ “play-to-win” and toward the “play-to-earn” model recently introduced by GameFi. Although early GameFi projects like Axie Infinity were built on the Ethereum blockchain. Newer blockchains, such as Binance Smart Chain, aim to improve the GameFi sector even further by offering faster tps, lower transaction fees, and a better user experience. This article will look more closely at the concept of Play-to-earn and how SQUIDANOMICS– a new hold to earn, hold to play, and play-to-earn platform– is attempting to redefine the meaning of GameFi. PLAY-TO-EARN: Re-defining The Gaming industry Play-to-earn is a new concept in the gaming industry that has been made possible by introducing decentralized finance and blockchain ...
