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       #Post#: 2705--------------------------------------------------
       GameFi - A way out for low-skilled workers
       By: Martha Louise Date: February 28, 2023, 11:52 pm
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       Although the COVID-19 pandemic has deprived many people of work,
       it has also accelerated a wave of technological development,
       accelerating the social transition to the era of the Industrial
       Revolution 4.0. In this wave of innovation, blockchain
       technology in the crypto economy has introduced entirely new
       forms of work.
       In crypto, smart contracts connect everything. These smart
       contracts allow us to create new Labor To Earn models, expanding
       earning opportunities for many people around the world,
       especially low-skilled workers. New Labor to Earn models
       include:
       -Learn to Earn & Participate to Earn: Users get paid just by
       using a certain protocol.
       -Create to Earn: Users can create artwork (via NFT) and music
       playlists to earn tokens.
       -Play to Earn or GameFi: By far, this is the most advantageous
       form of making money. They allow players to participate in the
       development of the game and earn money just by playing the game.
       In fact, when the COVID-19 pandemic hit the Philippines, many
       people in the city of Cabanatuan north of Manila started playing
       gamefi, to earn money to make ends meet while in lockdown.
       College students who can't find a job, unemployed drivers, old
       men and women whose business is sluggish because of the
       epidemic, etc. have all found a way out in GameFi.
       What is GameFi?
       Normally, in traditional game business models, all the revenue
       goes to the publisher, but GameFi is trying to build game
       universes owned by players, giving them the freedom to play the
       game and made money. GameFi creates a player-owned economy, by
       allowing them to trade items and earn more by playing games.
       Why is GameFi attractive in developing countries?
       The best example of this GameFi phenomenon is Fairy Cat
       (fairycat .net). Fairy Cat is a blockchain-based game in which
       players adopt magical cats called Fairy Cats and collect
       treasures with them. Players who complete daily quests will earn
       an in-game currency, called Gold Diamond (GD). GD can be
       exchanged for USDT coin.
       Fairy Cat represents a new business model based on blockchain,
       where game creators share their revenue with players. Every
       dollar that players earn can go straight to the developers'
       pockets. However, instead of charging access, selling ads, or
       forcing users to buy in-apps and keep all the profits for
       themselves, the developers of Fairy Cat decided to share the
       profits with players, hoping that The game will be widely used.
       To better understand the operation model and profit sharing of
       Fairy Cat, you can refer to: fairycat  .net -  code: LBi96P
       Conclusion
       It is undeniable that GameFi is an attractive proposition for
       the unemployed or low-skilled workers. Especially, for young
       people, this is one of the few areas where they have an
       advantage over experienced elders thanks to their relatively
       abundant time and technology skills. Furthermore, GameFi allows
       anyone to convert wasted time into income with relative ease.
       Now you can use your time waiting for the bus or queuing at the
       bank to earn a little extra money. Instead of surfing TikTok or
       watching Youtube, you can play games to earn money. What do you
       think about this new way of making money? Please comment below
       to discuss with us!
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