GameFI

GameFi is a combination of the terms gaming and decentralized finance (DeFi) and describes the integration of blockchain applications in the gaming sector for monetization purposes, among other things. Smaller publishers in particular use the possibility of monetizing their games by issuing tokens. The tokens are usually based on the ERC-20 standard of the Ethereum blockchain and are issued as part of an Initial Coin Offering (ICO). This serves to finance the costs incurred in the development of the game. Using smart contracts, gamers receive automated tokens from the publisher in exchange for a payment with existing cryptocurrencies and can use them in the game that is developed later.