Governance Tokens in GameFi: Balancing Power Between Developers and Players

in hive-183397 •  11 days ago 

The gaming industry has gained rapid innovation and transformation and the truth is the fact that it happens because we have new update coming up in the technology world. One of it certainly is in the aspect of Blockchain technology. The massive rise of the Blockchain technology has been able to transform and change the view of the gaming world much more than the traditional gaming perspective we know it to be. The Blockchain technology has been able to bring to the picture what I will say the GameFi.

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For many of us, this might actually be the first time we might be hearing about GameFi. The full meaning is Gaming Finance and it is a branch that was originated from the Decentralised Finance world. GameFi ecosystem have been able to transform a whole lot of things around and one of it most especially is how players or should I say gamers interact with the gaming industry. The fact that players know can participate also in decision making in the gaming world is something massive and strange that we don't get to see in the traditional gaming system.

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There is something called the Governance Tokens which for some of us we might have hear it before. There is a massive role that governance tokens plays when it comes to gaming finance and one of it is it helps to give massive sense of ownership to gamers most especially gamers who holds those tokens and it is run in a full Decentralised approach. What do I mean by a Decentralised approach, that means there is no centralised authority that is in charge. We have several games now in the Decentralised world that makes use of governance tokens. Examples like Axie Infinity and even Decentraland.

There is so much benefits that the gaming world stand to gain when there is full participation most especially in the aspect of their participation. The fact that GameFi offers the privilege for the gamers to earn some rewards in Finance, it encourages them to participate much more in the gaming. Not only that, whether we should like it or not, governance tokens are financial assets that helps to satisfy the interest of the gamers.

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As far as I know gamefi Gala's own coin, I think this coin will perform well in the future, because they have good usage cases.


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@mikitaly

Wow thank you so much 🙏

I am really grateful for this I must confess
@mikitaly