In a recent interview, Jeff Mei, director of global strategy at crypto exchange Huobi, talked about the GameFi sector (as exemplified by “play to earn” games such as Axie Infinity).
During an interview with Insider, Mei said that GameFi, which is “the intersection of decentralized finance and the gaming industry”, is one of the hottest technologies in the crypto ecosystem and likely an early glimpse at the future of virtual economies:
Users want the hottest, most innovative, the most creative, the most promising assets on the market.
The Insider article explains that the most common feature of the business model of GameFi is “play to earn”
Mei also mentioned that his firm has a $10 million fund that allows it to help promising GameFi projects. This fund will invest in “GameFi projects in the start-up stage to make an impact in the blockchain world, via marketing and PR support, financial and legal advice, and introductions to potential partners.” Some of the projects Huobi has invested are Supernova, Immutable, and Rangers Protocol.
Mei said:
“We want to help users find the best projects that might have value, the best projects that might have some type of innovation, some type of quick adoption. There’s so many projects out there that are ‘vaporware’ – they’re fake. They just want to make money and run away.“
According to Mei, in the Southeast Asia region, which Huobu is focusing on at the moment, one of the most popular GameFi projects is Ethereum-powered NFT-based game Axie Infinity, which was created by Vietnamese game studio Sky Mavis.
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Image Credit
Image by “Victoria_Borodinova“ via Pixabay
