CoinEx｜Token Growth Drives GameFi Development and Yields Reward for Gamers
This fall, GameFi has showcased the very first big moment for the crypto market.
From $0.135 last year, AXS, a token within the Axie Infinity ecosystem, has peaked at $78, creating an almost 600-time growth record. For investors, buying AXS during the first 6 months of 2021 might yield triple-digit or even quadruple-digit growth. Backed by the impressive performance of Axie Infinity this year, the P2E GameFi has become another exciting investment opportunity after “MEME token”.
Moreover, items in traditional games are basically server data that will evaporate once they are removed from the centralized server. In terms of the profit chain, GameFi has reshaped the model of profit distribution. Essentially, all participants in GameFi can receive rewards corresponding to their contribution to the GameFi ecosystem.
As the last link in platform investment and the most important step for listing tokens, exchanges play a unique role as they offer first-class project teams with one-stop service packages, ranging from investment to listing tokens. The listing of tokens is the most straightforward way to assess an exchange’s plans for market trends. For exchanges, one key indicator of capability is whether they can bring growth and facilitate industry-wide development.
A New Mining Approach with Progressive Growth
In light of GameFi’s development, exchanges backed by an underlying public chain seem to have an edge. Thanks to their inherent popularity, stable infrastructure, and abundant market resources, exchanges are able to go through the entire growth cycle of a trending segment, from mining to listing.
Based on these criteria, you might become interested in the CoinEx ecosystem that acts as a driver for GameFi. While listing new GameFi tokens, CoinEx has dedicated a specific trading sector for GameFi on its official website that covers the most trending GameFi tokens.
We can tell that CoinEx has turned its focus to GameFi from tokens it listed in the last two months. Other than efforts to provide GameFi access, the exchange has also launched well-designed events to attract more participants in GameFi.
GameFi adopted finance in games, allowing gamers to earn as they play. A closer examination of GameFi would tell us that it resembles DeFi in many aspects. For instance, on CoinEx, users earn CET by providing more liquidity and receive transaction fee distributions, whereas, in Axie Infinity, players are rewarded with SLP and elf pet Axies. Generally speaking, GameFi replaces “yield farming” in DeFi with “game mining”.
As it lists a series of high-quality GameFi tokens, CoinEx has officially launched a 10-day GameFi trade-driven mining event and prepared 1,000,000 CET rewards for GameFi fans.
Offering users with a great starting point, the event has drawn massive participants from the CoinEx community. Additionally, GameFi tokens listed on the exchange have seen considerable growth (up to 400%), which helped users secure real gains.
Thanks to the features of blockchain, CoinEx users can always hold their assets when making GameFi investments. In this sense, GameFi players on CoinEx are not just gamers, but also investors receiving tangible benefits. For example, by mining on CoinEx, GameFi players can obtain CET or token rewards offered by game ecosystems.
Low Price and High Efficiency Make CoinEx the Perfect Choice for Boosting GameFi
GameFi owes its rapid growth to good liquidity, diverse assets, massive user base, and funding & tech support. At the same time, these elements are all perfectly available on CoinEx. During the last round of DeFi surge, Ethereum’s lack of scalability resulted in the jammed network and soaring gas fees, which shut out users. New public chains might be able to make up for these defects and take up the market. However, this does not make them the perfect soil for GameFi prosperity, since they also suffer from problems such as low trade efficiency, high costs, long withdrawal cycles, etc.
As a fast-growing decentralized public chain, CoinEx Smart Chain (CSC) features both low trading costs and high efficiency, which makes it the best choice for users and project teams.
Being the best solution to the trade of game assets, GameFi’s rise is almost destined. As blockchain games progress, we have witnessed great opportunities for blockchain applications. GameFi has unlocked a wider world for on-chain assets, entertainment, and investment. Against this backdrop, CSC, with its own liquidity and innovation, is meeting more demands and injecting diversity into the public chain race for an upgrade.
2021 marks the commencement of GameFi growth. Public chains and exchanges are taking action, and the DAO concept of GameFi is also maturing. While all this is happening, we may see more phenomenal GameFi applications like Axie Infinity. For the GameFi sector, the present boom might be just a start. However, the paramount consideration in judging whether GameFi will thrive is the availability of high-performance public chains. As such, CoinEx has inherent advantages and huge potential for driving GameFi growth. As it continues to yield high returns, the exchange is on its way to becoming a hot investment destination.