Cryptopia

One thing you really have to admire about gamers is their willingness to learn a vast amount of information and master numerous skills just to play and win.In fact, <a href="https://sg.news.yahoo.com/comment-video-games-are-great-tools-for-learning-life-skills-100430071.html" rel="noopener noreferrer nofollow">video games help you learn valuable life skills</a>, including critical thinking, sharpening your senses, perseverance and patience, working in a team, and dealing with trolls and negative comments.“Growing up, I&#39;ve spent numerous hours on strategy games like Command &amp; Conquer and Age of Empires.”“Strategy games have helped me in my decision making on how to approach and tackle a situation.”“Sometimes, these strategy games throw you into a very disadvantaged predicament, and you will need to find a way out of it.”Gaming as a form of entertainment is so popular that 3.7 billion people, or nearly half of the global population, are video game consumers, according to <a href="https://www.gamesindustry.biz/dfc-global-game-audience-reaches-37-billion" rel="noopener noreferrer nofollow">DFC Intelligence&#39;s Global Game Consumer Market Overview</a>.It is no wonder, then, that gamification — which refers to “<a href="https://www.forbes.com/sites/forbesbusinesscouncil/2023/05/25/eight-mechanics-of-motivation-how-to-reach-business-goals-through-gamification/?sh&#61;114e36df5be0" rel="noopener noreferrer nofollow">the application of gaming mechanics in a non-gaming context</a>” — has become such a buzzword, including in banking and other financial services.Let’s face it: traditional banking is boring, particularly to younger users such as Gen Z. With the acceleration of digital transformation because of the pandemic and the rise of digital banks, the banking industry has focused on reinventing itself and embracing gamification.In fact, it’s not only the gamification of their processes that banks have embraced, but also offering <a href="https://www.digitallifeasia.net/forest-interactive-cambodia-sathapana-boost-digital-payments/" rel="noopener noreferrer nofollow">convenient access to gaming and digital entertainment</a> in order to promote their online services.As they rush towards gamification, however, banks should keep in mind that they need to execute properly by <a href="https://internationalbanker.com/technology/how-gamification-is-catapulting-digital-banking-to-the-next-level/" rel="noopener noreferrer nofollow">following these five best practices</a>: simplicity is the key, don’t overwhelm people, serve a real purpose, leverage the data, and build a virtual economy.“Just like in the real world, you must build a sustainable economy to keep users engaged in your game. Use scarcity to incentivize engagement, such as temporary contests and seasonal rewards. Over time, this will keep people engaged long term and make them more open to the content pipeline you feed into the gamification funnel.”“People love playing games. Generations before electronics came about, we had a variety of card and board games. Video games are continuing to grow in popularity, and the industry is larger than most other forms of entertainment. Applying elements of gamification to digital banking is an obvious move to leverage our natural instincts for everyone’s benefit.”“Adding gamification to digital banking incentivizes positive actions. It can make mundane actions — such as saving money — more fun and keep people coming back. Gamification has proven to be a successful model that can exponentially increase customer retention and engagement in banks that leverage it.”Gamification also <a href="https://www.financemagnates.com/fintech/education-centre/harnessing-gamification-in-financial-education-and-engagement/" rel="noopener noreferrer nofollow">boosts financial education and engagement</a>. For example, investment simulators can teach customers the basics of investing in a safe space by letting them play a game using virtual money.As games increase in popularity and as younger users become the target market for banking and financial services, expect gamification to continue <a href="https://www.financemagnates.com/fintech/education-centre/gamifications-adoption-in-financial-services/" rel="noopener noreferrer nofollow">revolutionizing this sector</a>.“Financial services companies have the chance to develop a more engaged and financially literate population by employing gamification to assist consumers in learning about financial concepts, setting and achieving financial goals, and making wiser financial decisions.“We may anticipate additional cutting-edge applications of this technology in financial services as gamification develops, such as employing virtual reality to simulate financial scenarios or using artificial intelligence to tailor gamification features to specific user preferences and needs.”We’ve already seen how blockchain games have onboarded users and educated them on decentralized finance (DeFi). For instance, thousands of Filipinos learned about cryptocurrency, non-fungible tokens, and blockchain technology when they created MetaMask wallets in order to play the hugely popular Web3 game Axie Infinity. Axie Infinity <a href="https://e27.co/the-philippines-can-be-korea-of-web3-says-axie-infinity-co-founder-20221117/" rel="noopener noreferrer nofollow">transformed the Philippines</a> during the COVID-19 pandemic, enabling financial inclusion for many Filipinos who didn’t even have bank accounts and allowing them to earn by playing.As the second generation of Web3 games such as <a href="https://coinmarketcap.com/community/articles/63d7726487181d5515e4e057/" rel="noopener noreferrer nofollow">Cryptopia</a> builds more sustainable virtual economies for gamers, expect game finance (GameFi) to help lead the way for <a href="https://blog.chain.link/gamefi/" rel="noopener noreferrer nofollow">gamification and blockchain adoption</a>.“GameFi, also known as ‘game finance’, was initially coined by Yearn Finance Founder Andre Cronje to refer to decentralized finance (DeFi) protocols with gamified elements. However, the term has since evolved to refer to the financial nature of blockchain games given their direct connection to real economies.”“It’s no secret that game items and currencies can be valuable. The rarest CS:GO (Counter-Strike: Global Offensive) skins are valued at up to thousands of dollars, and a plethora of gray markets exist today to facilitate the exchange of in-game currency, items, or accounts for real money. On one side of the equation are the sellers—those who own these digital goods as a result of the time, money, and effort they’ve spent in the game. On the other side are the buyers—those who are willing to exchange money for the seller’s hard-earned items for a plethora of reasons (limited availability, social status, not enough time to grind, etc.).”“In this context, GameFi is not a new concept. It simply uses blockchain technology to formalize a market that’s historically been full of friction, hard to access, and sometimes completely banned by game publishers. Tokens are a transformative technology aiming to replace these gated items, currencies, and even accounts.”For example, the <a href="https://cryptopia.com/tokenomics/" rel="noopener noreferrer nofollow">tokenomics of Cryptopia</a> ensures that <a href="https://coinmarketcap.com/community/articles/644b8667fec63d16dc58e86c/" rel="noopener noreferrer nofollow">players will be incentivized</a> to use the game’s digital currency, Cryptopia token (TOS), and reinvest it.“The TOS supply is capped at 10 billion and released over time as quest rewards. Players are incentivized to reinvest their earnings in businesses and character advancement, potentially leading to a growth in demand.”Of this 10 billion, the largest part is reserved for the game, with 40% (4 billion TOS) waiting to be unlocked in the game and claimed by the players.As <a href="https://coinmarketcap.com/community/articles/646afa501b62dd1168714733/" rel="noopener noreferrer nofollow">AI, Web3, and the metaverse converge</a>, it will be interesting to see what the future holds for banking and financial services. Will GameFi and DeFi become virtually interchangeable? Will our in-game and real-world finances merge?At the end of the day, gaming is serious business. Let’s play!—————————————————————————————————————What is Cryptopia? Cryptopia is an upcoming blockchain game that stands out by design: • Free to earn: everyone can play and earn. No need to buy an NFT first • 100% decentralized: the game runs on the blockchain in combination with a node network • Fun to play: play the way you want!Official Links [Website] <a href="https://cryptopia.com/?ref&#61;CMC" rel="noopener noreferrer nofollow">https://cryptopia.com</a> [Wiki] <a href="https://wiki.cryptopia.com/" rel="noopener noreferrer nofollow">https://wiki.cryptopia.com</a> [Discord] <a href="https://discord.com/invite/cryptopia" rel="noopener noreferrer nofollow">https://discord.com/invite/cryptopia</a> [Facebook] <a href="https://www.facebook.com/CryptopiaOFCL" rel="noopener noreferrer nofollow">https://www.facebook.com/CryptopiaOFCL</a> [Twitter] <a href="https://twitter.com/CryptopiaOFCL" rel="noopener noreferrer nofollow">https://twitter.com/CryptopiaOFCL</a> [YouTube] <a href="https://www.youtube.com/&#64;CryptopiaOFCL" rel="noopener noreferrer nofollow">https://www.youtube.com/&#64;CryptopiaOFCL</a> [Instagram] <a href="https://www.instagram.com/cryptopiaofcl" rel="noopener noreferrer nofollow">https://www.instagram.com/cryptopiaofcl</a> [CoinMarketCap] <a href="https://coinmarketcap.com/community/profile/Cryptopia" rel="noopener noreferrer nofollow">https://coinmarketcap.com/community/profile/Cryptopia</a> [Twitch] <a href="https://www.twitch.tv/cryptopiaofcl" rel="noopener noreferrer nofollow">https://www.twitch.tv/cryptopiaofcl</a> [Spotify] <a href="https://open.spotify.com/show/4jkkGIZyiSkQvYLWqGLWVE" rel="noopener noreferrer nofollow">https://open.spotify.com/show/4jkkGIZyiSkQvYLWqGLWVE</a> [Telegram] <a href="https://t.me/cryptopia_ofcl2022" rel="noopener noreferrer nofollow">https://t.me/cryptopia_ofcl2022</a>For Investors [Private sale] <a href="https://app.cryptopia.com/privatesale-entry?ref&#61;CMC" rel="noopener noreferrer nofollow">https://cryptopia.com/privatesale</a> [Early-access NFTs] <a href="https://app.cryptopia.com/early-access?ref&#61;CMC" rel="noopener noreferrer nofollow">https://app.cryptopia.com/early-access</a> [Cryptopia Roadmap] <a href="https://sharing.clickup.com/24415847/b/q93k7-827/board" rel="noopener noreferrer nofollow">https://sharing.clickup.com/24415847/b/q93k7-827/board</a>

Gamification: How Video Games Are Reshaping Banking and Other Financial Services

Cryptopia

Other articles published on May 30, 2023

MetaBeat's 13th "DROPS" is here!!

Revolutionary Collaboration: Tranglo and Al Ansari Exchange Unite to Transform Cross-Border Payme...

Ethereum (ETH): Breaking Barriers or Sliding Further? A Comprehensive Market Analysis

AI: A Potential Pandora’s Box or Panacea?

Five Ways to Reduce Annual Crypto Taxes in the US

Party for New Users: Win rewards up to 150 USDT!

Join our free newsletter for daily crypto updates!