OREANDA-NEWS.  The widespread use of cryptocurrencies and blockchain technology has led to the development of decentralised games (GameFi). It is a term that combines the fields of DeFi, NFT and computer games, whose users can make real profit. All digital items are stored on the blockchain, so they belong only to the players, not the developers.

The year 2020 saw the first large-scale adoption of cryptocurrencies by institutional investors, with large companies acquiring billions of dollars worth of cryptocurrency. This year, global regulators also turned their attention to the digital asset market: the US Securities and Exchange Commission (SEC) approved a bitcoin futures ETF for the first time. Now, the next stage in the market's development will be its distribution to young people via GameFi.

While most classic games are aimed at making money for developers, decentralized apps allow players to profit. And there is no need to buy expensive gaming equipment, just an Internet connection and a standard device (computer, laptop, and in some cases smartphone). Almost all gaming items used in the GameFi sphere can be put on the secondary market and sold. Often there are marketplaces right inside the platform.

The GameFi industry was born back in 2013, when developers started introducing support for cryptocurrencies in games. The field has gradually evolved, but the real boom has come in the last year, amid the explosive growth of decentralized finance.