While decentralized finance (DeFi) is on the up, a specific sector within seems to be making more noise than most. That section is GameFi, and everyone wants in.
At its core, GameFi is a space where players earn from playing their favorite games. They acquire characters in the form of nonfungible tokens (NFTs) and develop those NFTs through gameplay, only to sell them later on for profit. It’s a natural evolution of the current gaming industry, and developers are eager to capitalize on it. aelf is a project looking to help.
The GameFi hackathon
aelf is a decentralized cloud computing blockchain network aiming to support new ideas within the crypto industry while also supporting current ecosystems such as Bitcoin (BTC) and Ethereum (ETH).
Underlining its mission to bring the blockchain space forward, aelf is holding a massive, metaverse-focused hackathon called Top of OASIS. Held in collaboration with DoraHacks, this hackathon is the first of many in what the group hopes will be an annual event.
While the hackathon can be anything NFT, DeFi, DAO, or Web 3.0 focused, aelf is directing its participants to build GameFi and metaverse related projects, considering these avenues are set to be some of the most profitable sectors of DeFi.
That said, aelf will reward various prizes depending on the participants’ category of choice. The prize range varies from 1,000 to 15,000 USDT.
More insights from aelf here
All participants who place will also earn an Arcane NFT, a series of collectibles designed by aelf. In the future, these NFT holders will earn special rights within the network as a reward for their contributions.
aelf invites the most creative blockchain developers to participate in its hackathon, assisting the project in building a versatile dev community to expand the aelf ecosystem in the future. Angelhack and Gitcoin are also getting involved in assisting in the competition.
A competition for the ages
Registration has already shown that this hackathon will be quite competitive, and the company is promising an attractive prize pool to match. The hackathon will also serve as proof that the aelf network can house such a competition, which Haoba Ma, aelf CEO, expands upon:
“The whole network is well prepared to support the hackathons and their sequent effects. We have prepared our best team to support our hackers from all perspectives. It will set the foundation for the development of the aelf ecology, and we will invite the most talented developers to our platform. This is just a start.”
Otherwise, aelf is planning for a bright future with various partnerships and features in the pipeline. In the past twelve months alone, it has invited multiple reputable blockchain groups such as Huobi pool, bountyblok, and RockX to be a part of the network.
The group has also recently launched its mainnet, in which it migrated ERC-20 and BEP-20 ELF tokens. Future plans include launching an SDK for fast smart contract deployment, decentralized storage, side chains and more.
Learn more about aelf
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.