In a nutshell, GameFi is the combination of three important parts of the blockchain space –decentralized finance (DeFi), non-fungible tokens, and blockchain-based games. This is basically the gamification and storage of various market segments. It allows more people to embrace a particular trend by offering rewards that are either monetizable or storeable.

Different GameFi platforms are seeing widespread adoption. One such name is Legends of Crypto (LOCGame) – a collectible card game that is built on top of Polygon’s blockchain that incorporates NFTs and other DeFi elements while paying tribute to many of the admirable people who have dedicated their lives to the blockchain and crypto revolution.

LOCGame is the purest form of DeFi. LOCGame uses a play to earn model that allows players to collect special items representing notable crypto-names. These collectibles and cards can be added to players’ collections, and they include NFTs, farming rewards, and more.

GameFi is no longer a solitary platform. Some platforms even seek out other emerging concepts. There are now metaverses and GameFi combinations that allow players to compete for prizes in metaverses.

These platforms may be taking advantage of metaverse trends to increase their popularity but the truth is that their platform provides value for their users. This strategy seems to be working for now.

LOCGame uses this play-to earn model to create an entertainment experience unlike any other. GameFi has an incredible opportunity to expand. Everyone enjoys the chance to win value.

However, this isn’t to say that there aren’t challenges for this growing sub-industry. GameFi developers need to make sure that they can overcome many of these obstacles if their platform is to be successful in 2022. One example of this challenge is:

The first – and perhaps most important – challenge to scale will be that of creating proper value. There are many scammers and other fraudsters operating in the crypto market. They pretend to be legitimate or some other type of legitimacy. Many people have lost faith in this market due to the proliferation of scams.

Now, if you’re developing an ecosystem where gaming meets blockchains, you have to convince people that the rewards they get are valuable. If you’re running a GameFi platform where players get NFTs, what is the value of these NFT? These NFTs can they be traded? Or should they remain in the hands of their owners? Is there any guarantee the players will get the best rewards?

This isn’t to say that you should simply throw money at the problem. GameFi developers need to figure out how to make these rewards more attractive to encourage players to sign up. Once you’re able to do that, you’ve solved a significant part of the problem.

People are more likely to join your platform and play your game if they know they’re getting something valuable in return. Convince them of the value in these rewards, and you’ll have them hooked.

The common theme in all trends that emerge from the crypto market, is that users experience problems on platforms.

DeFi was plagued by this issue, with too many DeFi platforms making it difficult for users to use. NFTs had the same issue – the steps needed to create, sell, or even buy an NFT remain overly cumbersome to this day.

GameFi is seeing the same trend. Although platforms can offer opportunities for making money with their play-to earn model, it is important that they are easy to use.

In 2022 platform developers will have to devise ways to make it easy for users to access their services. At the end of the day, no one will come to use what you have to offer if it’s not easy to use – no matter what you promise them.

Every sub-industry of crypto, regardless how it turns out, will be linked to the market. With the rapid growth of NFTs, we saw it clearly. The frenzy surrounding NFTs was massive when 2021 started, and this pace was lept for the most part of the first quarter – and even some parts of the second.

NFT transaction volumes increased dramatically when the mainstream market turned against itself and coin prices plummeted. DeFi was the exact same in 2020. DeFi volumes soared massively, thanks to peoples’ propensity to access financial services amid the coronavirus and the fact that the crypto market itself was pretty strong. DeFi activity and volume dropped after the market plunged in the middle portion of 2018.

GameFi is expected to see a large adoption in the 2022 year. It is possible, however, that GameFi itself will fall if the wider crypto market decides to slide. Developers will have to devise ways to maintain their activity even if the market falls. They can be resilient even in times of downturn.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. The information contained in this article shouldn’t be taken as advice. CoinQuora urges users to conduct their own research prior to investing in cryptocurrency.