Are you still puzzled about whether NFTs are actually good or bad? You may have heard a thing or two about NFTs. There are many fairy-tale-like stories of how NFTs can turn a person into a millionaire in one night. However, most recent news mainly stated that NFTs are bad for investment. Because of that, people started to doubt the value of NFTs.

The negative predicate for NFTs is mainly because of how unstable NFTs were as investments. The price of NFTs is highly unpredictable, as they are tied to how many people are willing to pay for them—if no people are willing to pay, it’ll have no value.

Remember those good old days playing video games thinking this is using up all of my money, and wishing it was the other way around? Wish no more, the days of players making money have arrived. And we’re talking about real money—that can you can use to buy real food and pay your phone and internet bills with. Not just digital in-game money for digital vegetables for your digital avatars.

Welcome to GameFi, one of the fastest growing fields of video game industry in the 21st century. 

Back up, you say. What is GameFi? GameFi stands for Game Finance, and it refers to games built on blockchains that offer economic rewards to its players. This is done by players receiving in-game rewards such as crypto coins, virtual assets (land, weapons, costume/skins), and NFTs (non-fungible tokens), by completing quests, battling other players or enemies, and progressing through the game levels. These in-game rewards can then be sold off outside of the game. In this way, players are able to earn cash out of their in-game assets.

Interested to know more and perhaps invest a bit in cryptocurrency? Crypto is just as exciting as it is volatile, so let’s touch up on some basics before you start choosing your crypto coins.

Cryptocurrency is digital currency in which the transactions are recorded on a decentralized system protected by cryptography (a.k.a., the blockchain). The currency you probably use on a day to day basis is fiat currency (for example USD, SGD, Pound sterling, Rupiah), which is controlled by national governments and central banks. The allure, which is also the risk of cryptocurrency, is precisely because it’s nature is decentralized. There is no party that can protect you if the value of your assets crash. At the same time, because of this, there is no limit to how high the assets can be valued.

Blockchain, cryptocurrencies, Bitcoin, Ethereum…those are major buzzwords of these recent years. Unless you have no access to the internet, it’s safe to say you’ve probably heard of these terms. But what is it, really? And how does it affect how we live our lives in the future? 

Basically, the blockchain is information stored across personal computers all over the world. The information is stored in something called blocks, and they’re connected by chains, hence the name “blockchain”. The system of all these connected computers is decentralized (so that not one person or institution controls it). The information is protected through cryptography technology.

The information stored in these blocks are information of transactions: verified, permanently recorded, and linked according to chronological order.