Microtransactions abbreviated as MTX help users purchase virtual goods my making micropayments. Microtransactions are very common in gaming environments where small and quick payments are usually used to purchase virtual items within a video game. Buying extra time in a gaming environment needs money and just a little of it.  Some types of NFTs and cryptocurrencies work well for such microtransactions.

Free to Play Games and Microtransactions

There are free to play games where users will be able to buy virtual products with NFTs and gaming currencies which come with an inherent value.  Most of the free to play games are free to download; however, when users want to buy time, bonus or virtual products in the game, they will have to pay.  These are mostly microtransactions.  Since a gaming environment is where players from across the world play, they might not want to hassle out on exchanging fiat to whatever unit of currency accepted in the gaming environment.  This can be time consuming.  Therefore, regular players tend to hold some types of cryptocurrencies which are accepted in gaming environments.

Gaming NFTs

Users who are fond of gaming tend to accumulate the kind of NFTs and crypto assets which can be used in such games. There are several games which accept Bitcoin and other kinds of cryptocurrencies to buy weapons and tools in games.  The good thing is that gamers can exchange the weapon which was bought for cryptocurrency or fiat at a future point in time for either fiat or cryptocurrency.

Gaming Tokens GameFi Project Based Cryptos

RobotEra, Calvaria, Tamadoge, Battle Infinity, Lucky Block, Decentraland, Axie Infinity, LOKA, Sandbox, ApeCoin, Enjin, Illuvium, Gala are just a few to name game tokens. GameFi is the fusion of gaming and finance in the blockchain, non-fungible tokens and smart contracts space. There is a lot of overlap and there is a trending question of who will regulate GameFi?

Metaverse and GameFi

Several GameFi platforms are a part of the metaverse and this they do to bring in more users to the metaverse. Mostly, NFTs, Yield Farming, and Liquidity pools create the Game Fi Infrastructure. Users get the unique opportunity of earning an income from playing games. To start off with GameFi, users need to have a cryptocurrency wallet which supports transaction in the Gaming environment or metaverse and they need to also have a compatible digital asset in a cryptowallet which facilitates transaction in the gaming environment with the asset they have. This means in a series, the crypto wallet should support the crypto and the crypto should also be accepted to and fro in the gaming environment.

Most GameFi tokens have their scope and economy within the gaming environment, except for a few which can be converted to fiat or crypto when the user exits.