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. The gamification of market parts allows for greater adoption of a certain trend, as people get rewards that they can either store or monetize.

Many GameFi platforms have already seen widespread acceptance. 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. The game uses a “play-to-earn” model where players can earn collectibles that represent some of the most prominent names in crypto. 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. That strategy appears to be working so far.

LOCGame makes it possible to offer an unforgettable experience by harnessing the play-to-earn system. 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. These are just a few of the challenges:

The first – and perhaps most important – challenge to scale will be that of creating proper value. Many people are aware that the cryptocurrency market is full of scams. Many have grown to distrust the crypto market because of this proliferation.

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? They can be traded or kept. 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 must communicate the benefits of these rewards to get more people to participate. 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 the fact that many platforms have issues with their user experience.

This was a problem with DeFi, as many DeFi platforms were too complicated to understand and 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 of its size or popularity, will continue to 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.

The volume of NFT transactions increased when the main market turned against itself and the coin prices plummeted.

Similar results were seen in DeFi for 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 activities and volumes dropped when the market fell in the middle of the year.

We expect a huge adoption of GameFi platforms in 2022. However, GameFi could be affected by the market’s decision to go down. In order to avoid this developers must find ways to continue their work even in a downturn. Developers can remain resilient during a downturn by doing this.

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 advises its users to research cryptocurrency before making any investment.