HolyShxxt!'s NFT and Future GameFi plans Shows HK's Potential

blockchain.news:

Hong Kong-based HolyShxxt!'s release of NFTs and their plan to launch a strategic football management simulation GameFi shows the potential growth of the fusion of gaming and blockchain-powered financialization in the city and globally.

The NFT and blockchain developer launched a set of generative art collectables on January 11, 2022, that includes 8,888 unique soccer players' NFTs that are created by a combination of 15 traits and over 480 attributes in addition to special functional features.

Although GameFi is still at an infant stage globally and their popularity is yet to rise, HolyShxxt! told Blockchain.News that “there is going to be a growth in the number of audiences entering GameFi.”

«When people get to learn more about NFTs, they will seek more utilities; gaming is always the first in mind. The competition will be fierce in the future of GameFi when more big players from Hong Kong are tapping in the market.”

The rise in the value of crypto-based assets known as NFTs has been the critical factor for developing GameFi in recent years. Both NFTs and GameFi fall under the decentralized finance (DeFi) model of business, where token-based transactions take place on blockchains.

While NFTs are non-interchangeable units of data stored on a blockchain — a form of the digital ledger — which can represent works of arts in various digital forms such as photos, videos and even music; on the other hand, GameFi refers to decentralized applications (“dapps”) with economic incentives.

One of the most appealing factors that differentiate a regular free-to-play game and GameFi is the ownership of assets that can be traded, lent or rented out.

According to Hong Kong's leading blockchain game developer and investor Animoca