Made for the Masses: The Rise of GameFi

Multiple trends have converged over the world in the past two years that have made what was once almost unthinkable not only possible, but probable. The catalyst that transformed the course of these trends was COVID-19 and resultant government-mandated lockdowns to combat the spread of the pandemic. The first of these trends was the possibility of remote work. Already made possible through advancements in technology, Zoom became an everyday word in 2020. What was already happening accelerated even further. Per a report from the National Council on Compensation Insurance, before the pandemic, 6% of Americans worked from home. In May 2020, one-third of workers worked from home. Many companies are evaluating. The second trend is increased screen time in front of entertainment or gaming platforms. Already an increasing trend over the globe, lockdowns drove millions of more users onto Netflix as well as gaming platforms. Per a report from Statista, there are now 3.24 billion gamers in the world. Then there is what COVID did to economies and the far-reaching effects of this. Governments and central banks implemented quantitative easing to prevent further market collapses. This created a lot more liquidity across markets. Thanks to apps like Robinhood, finance had also been gamified, and millions were becoming first time investors. Stocks such as Tesla and Zoom as well as other assets like Bitcoin and Ethereum have seen record price ...