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What Is Gamefi and How Does It Works? A Guide from KuCoin

Undoubtedly KuCoin is the giant Altcoin exchange due to the huge number of listings. Many new coins prefer the KuCoin exchange because of the 18 million traders’ presence. Also, the trading volume of 1 trillion dollars attracts more people from various parts of the world. Alongside crypto coins, KuCoin also supports the Metaverse projects. Different projects, including NFTs and Metaverse games, are listed on KuCoin in a huge quantity. This post also explains Gamefi and how it works, a guide from KuCoin. slbux

Gamefi:

Gamefi is supporting Metaverse gaming. Players can earn NFTs and cryptocurrency by playing games and competing with other users. The best thing about Metaverse gaming is that you can transfer your item and share it with others like NFTs and cryptocurrency. With the rise of Axie Infinity, Gamefi has become more popular because it attracts many gamers towards it. You can win the different prizes while having fun and completing the various tasks.

Working Principle of Gamefi:

In the Gamefi world, players earn rewards from Avatar, cryptocurrencies, costumes, and virtual lands. In most cases, NFTs are traded during the game. However, players should convert their assets first into NFTs to sell them. Players can earn rewards by completing the different tasks depending on the type of games they are playing. You can also make money by simply trading or lending your game assets without participating in gaming.

Play to Earn Model(P2E):

The Games structure includes a P2E model. This model support and earns benefits for its users. Most of the regular games are based on the Pay to Play model. However, in the world of Metaverse, you can earn money while having fun. On regular gaming, you must pay for a licensing of different games and buy their CDS or setups, but in Metaverse, these games pay you in return. You have full control over your assets and can transfer them by your choice. Axie Infinity enables you to earn tokens by competing with other players and completing different tasks.

GameFi Listed on KuCoin:

KuCoin excitedly welcomed another project to their platform and listed the GAFI/USDT pair. The native token of Gamefi. Gamefi provides wide opportunities to KuCoin users and connects crypto holders to the gaming world. Where they can lend or stake their money for a better return.

Conclusion:

KuCoin achieves new milestones of success daily. You can find different crypto pairs like BTC/USDT, ETH/USDT, GAFI/USDT, etc., on a KuCoin site. There is a huge number of blockchain projects also exist on their site. The BTC, ADA, BNB, and Eth price with big market data are updated in KuCoin according to the live market. The advancement of KuCoin helps it to transfer its exchange to the next level. There is no competition for KuCoin support towards the Metaverse projects. A huge number of Metaverse gaming and NFTs projects are listed on KuCoin. KuCoin supports them on a very high scale in the best interest of Metaverse.

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