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GameFi’s Common Terms You Can’t Miss (Part 2)

22 September, 2022

🔥 GameFi industry continues to be a hot topic in NFT and crypto markets as more and more professional investors are attracted to their potential projects. In this sequel of the article series, we’ll continue to learn more about terms that are commonly used in the GameFi community.

💥 AMA (Ask Me Anything): a common term used on social media sites to create an ask-and-answer topic for everyone to join. When used as a noun, AMA can also mean a type of informal interview in which they ask and answer topic is open to the general public. Anyone can ask whatever they are curious about the interviewee.

Cre: DjinnGuild

💥 DAO (Decentralized Autonomous Organization): is a member-owned organization operated on a blockchain ecosystem and without centralized leadership. They utilize smart contracts to lay foundational rules. This means that every decision must go through proposals and voting joined by all members of the organization, and business runs transparently on-chain.

👉 Read more: What is DAO in gaming and its impacts on Gaming Guild

💥 Marketplace: a secure place where buyers and sellers can trade or auction in-game NFT materials from different blockchain games. The marketplace is managed by smart contracts to ensure the accuracy and reliability of each transaction.

Cre: Pops.vn

💥 Asset/Collectibles: a general term refers to in-game possessions such as avatars, virtual lands, weapons, costumes or even cryptocurrencies. In GameFi projects, these assets are qualified to be traded or sold on NFT marketplaces, or can be converted into NFTs for sale.

Cre: MetaShooter

💥 Release date/Game Release: a familiar term known among the traditional game community. It refers to the date when a game is officially available to the public.

Cre: Metashooter

👉 Read more: GAMEFI’S COMMON TERMS YOU CAN’T MISS (PART 1)

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