GameFi is a new concept in the blockchain industry that combines gaming with decentralized finance (DeFi) to create new economic models for gamers.
DeFi is a new financial system built on blockchain technology that operates without intermediaries such as banks or other traditional financial institutions.
To encourage players to actively participate, it consists of developing blockchain-based games, also known as web3 games, that integrate financial incentives like tokens, NFT rewards, and other benefits. These rewards are meant to create a gaming economy where players can purchase and exchange in-game items with real-world value and not just prizes that never “come out” of the game itself.
In traditional video games, players play for fun or entertainment. But in GameFi, players can also earn money by participating in games, tournaments, and other activities. GameFi platforms use smart contracts and decentralized applications (dApps) to automate the process of reward distribution, making it more transparent and secure.
GG DApp — A success sharing GameFi ecosystem
GG DApp’s main goal is to reward the three main actors who contribute to the success of a web3 gaming project: Players, Developers, and Liquidity Providers.
We’re creating a platform and ecosystem where players are rewarded with crypto and NFT when they play the platform’s games, developers are rewarded with GG Token ($GGTK) through gaming pools when they integrate their project into GG DApp (get to know the Pioneers Program), deciding how much of their native token supply and percentage of sales/fees they want to share with the stakers, and liquidity providers are remunerated when they stake their GGTK in our staking pools (General or Gaming Pool).
GG Token ($GGTK) is the GG DApp platform’s native token. It’s a token built on the Ethereum blockchain (ERC-20) and can be stored in any Ethereum wallet.
Our reward system for GGTK is modeled similarly to that of Bitcoin, with a finite supply of 21 million GGTK available in total for rewards. Every ten minutes, a distribution of 50 GGTK will occur, and approximately every four years, the total number of GGTK distributed in the GG DApp platform is reduced by half.
The distribution will be done between the several staking pools available. At this point in our current beta, only 20% of the distribution occurs, and it goes to the General Pool. Lately, we’ll start distributing the rest between the gaming pools and other staking pools that might open on other networks.
By creating a success sharing Web3 gaming ecosystem, GG DApp promotes a culture of collaboration, innovation, and shared responsibility, which can lead to greater overall success and sustainability for the platform and for those who are involved in it.
In short, GameFi platforms create a more immersive and engaging gameplay experience by introducing economic incentives and token economies to games, and GG DApp takes it to another level!
Are you ready to “Play, Adopt and Be Rewarded”?
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