The future of crypto has immense potential. A wide range of different industries are examining how, SocialFi, and gaming economics can be implemented in Web3 services.
SocialFi and GameFi – the Economy of the Future
By: Allan G. | 10-6-2022
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In Conclusion
Web3 is bringing the power back to the people so that they truly own and control their content. It has the potential to completely disrupt a lot of industries. Mass adoption is inevitable, and I for one can't wait to see what happens.
GameFi
The goal of DeFi is to create a completely decentralized ecosystem where users can interact with one another directly without the need for a centralized intermediary such as a bank. By cutting out banks from the transaction process, governments are no longer involved in everyday transactions.
SocialFi or social finance is a new financial sector that is looking to fund social media platforms that are built on the blockchain. The goal is to create a new type of social media that is resistant to censorship, and that gives users complete ownership and control over their data. This is an important model because it has the potential to completely change how we interact with one another online.
SocialFi takes the power away from big tech companies that now control a ton of user data. One implementation of this new model is Pixsy, an image storage platform for photographers. If you upload an image to Pixsy, it’s stored on the blockchain, thus protecting your copyright. f another site uses your image, you'll know! SocialFi platforms have immense potential for end users.
SocialFi
Gaming is a huge sector being targeted by the crypto industry. The goal is to use blockchain technology to create new types of games that are more fair, transparent, and secure. This is a particularly important sector because it has the potential to redefine how we interact with digital worlds. Another big aspect of this is that users can earn money while interacting within the game.
A lot of publishers have models that let their gaming customers own part of the games. Illuvium is a game where users can own, grow and sell captured creatures. It’s a legal way for any player to earn money while enjoying a game.
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