GameFi, a blockchain platform today announced its soft launch in Malaysia. The pioneering platform allows people to kickstart their blockchain journey and learn about GameFi, Play-to-Earn games, Non-Fungible Token (NFT), and Metaverse.
While 2020 witnessed several economies shutting down as a direct consequence of the Covid-19 pandemic, the video gaming industry was one of the few sectors that experienced an unexpected boom. With several nations imposing nationwide lockdowns, people naturally resorted to seeking entertainment within their homes during the successive rounds of restrictions.
As cryptos continue to be a global phenomenon, industries all around the world are looking for more ways to incorporate blockchain technology into their core products and services. Online gaming, in particular, has become a breeding ground for exciting innovation in this space. Developers are inventing new methods to leverage blockchain and use cryptos to purchase and trade in-game products, cosmetics, unlock characters, and much more. The convergence of the virtual and the real – our metaverse – has never looked so good.
The Chief Executive Officer and Founder of GameFi Sdn Bhd, Sean Leong said that their mission is to raise individual and businesses awareness about how blockchain can transform games and improve or disrupt existing business areas.
With the advancements in PC and mobile gaming, there has been a noticeable increase in the gaming industry’s interest in cryptos. Undoubtedly, crypto games are now disrupting the traditional games market by allowing players to earn while playing, thereby rewarding their time and effort.
As public familiarity with cryptocurrency spreads and applications of blockchain technology become more varied, many are predicting blockchain gaming to be the missing piece of the mass adoption puzzle. In many cases, gamers are already familiar with the concepts that underpin many GameFi titles — in-game economies and digital scarcity, for example.
Additionally, the online gaming sector is rapidly expanding — with 2020 seeing 21.9% growth over the previous year, pushing its total annual revenue past $21 billion. Meanwhile, an estimated 932 million people worldwide enjoy video games online.
As a result, GameFi Sdn Bhd seeks to further build an ecosystem combination of Blockchain project development platform, decentralized NFT marketplace, Crypto Domain and IPFS storage, GameFi technology lab and education hub.
We want to be the part of this ecosystem and in Malaysia’s transformation journey. This is in line with the government’s huge ambition for innovative and advanced technology.
The GameFi team, with Sean sitting in the front second from the left.
The team behind GameFi (Malaysia) showcases their interest and ability to focus on continuous innovation, as evidenced by their intention to further integrate their projects in blockchain with the government to develop more innovative projects that benefit to the public. They are also eyeing Metaverse, creating and delivering the whole Metaverse experience to the public.
GameFi Malaysia will also seek out opportunities to continually enhance and complete their ecosystem in Blockchain technology to create a Blockchain-savvy nation in Malaysia.
Umar Nisar was born and raised in the busy city of Abbottabad. As a journalist, Umar Nisar has contributed to many online publications including PAK Today and the Huffing Post. In regards to academics, Umar Nisar earned a degree in business from the Abbottabad UST, Havelian. Umar Nisar follows the money and covers all aspects of emerging tech here at The Hear Up.