OKEx announces launch of GameFi center


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TL;DR Breakdown

  • OKEx launches GameFi Centre.
  • Exchange previously invested $10M on Metaverse program to incubate early-stage GameFi projects.

Top crypto exchange firm OKEx has announced the launch of its GameFi center. This comes after the recent launch of its DeFiHub.

The GameFi section of DeFi Hub will serve as an essential portal into the emerging GameFi sector of the crypto industry.
The firm said it would let visitors discover new and popular play-to-earn blockchain games, e.g., Celestial Metaverse Crypto Gladiator, and many more, in a Press release on Friday.

Per the release, the GameFi section also shows top blockchain games across multiple major blockchains.

OKEX and its GameFi projects

OKEx notes that it sees massive potential in play-to-earn blockchain games to make the crypto space even more accessible to more people and give people a chance to earn their first crypto simply by playing.

GameFi is a blend of the words “game” and “finance” and generally refers to blockchain games that let players earn cryptocurrency by playing them.

The earning mechanics within different GameFi projects vary from game to game. Some games may reward players with crypto for completing in-game tasks. Other games may let you earn crypto as the yield on assets you own in the game. Some games may enable you to earn NFTs, which you can then trade on secondary markets outside the game.

The exchange before now has been involved in developing other GameFi projects. Last month, OKEx launched the $10 million Metaverse program to help accelerate and incubate early-stage GameFi projects.

OKEx noted the rapid development of various Metaverse projects leading the blockchain industry into a new era for their support.

The program also brought recognition to projects that are ready to launch, with a Metaverse-themed hackathon and sponsored by prominent GameFi projects.

The top exchange firm also has its recently launched DeFi Hub that acts as a portal into the world of decentralized finance and nonfungible tokens.

The exchange’s DeFi Hub is one of the foremost platforms to trade and mint NFTs via NFT Marketplace. The Hub also features DeFi Dashboard, a tool for viewing and managing all your decentralized assets from different public blockchains and DeFi protocols in one place.

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Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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