
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1304134980-820x461.jpeg" alt="" class="wp-image-413656" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1304134980-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1304134980-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1304134980-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1304134980-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1304134980-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1304134980-scaled.jpeg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>NFT non fungible tokens infographics on colorful abstract background. Pay for unique collectibles in games or art. Vector illustration.</figcaption></figure>



<p>If earning money for playing videogames sounds futuristic, think again. With GameFi, it’s already become a reality.</p>



<p>Bitcoin, Ethereum, NFT’s, DeFi,– cryptocurrencies, blockchain, and the technologies that are built off them are no longer simply buzzwords, but fast entering the mainstream. Cynicism toward the current global financial system and the promise of possible profits has driven many more people towards exploring the possibilities offered by blockchain based services – and that applies to gaming as well.</p>



<p>GameFi, a portmanteau of “gaming” and “finance”, has become one of the hottest topics in the cryptocurrency industry over the last year – essentially allowing players to earn rewards in the form of tokens or NFT’s (Non-Fungible Token) as a financial reward or generating income.</p>



<p>An NFT is a cryptographic token on the blockchain that represents a unique item, which can be a piece of artwork, a digital videogame avatar or even physical property – essentially solving the ownership verification challenge in a digital space.<br><br>“Think of it [an NFT] like owning 1 of a kind item in a game, or like “owning” an Instagram post” tweeted musician and artist Mike Shinoda of Linkin Park fame, who recently sold an NFT which contained a newly released song for over $10&nbsp;000.</p>



<p>Videogames are leveraging this space within the GameFi world by using NFT’s in the structure of the games themselves; for example, your character or avatar in a videogame could be an NFT – such is the case with EtherOrcs, a role-playing game in which all of the games 5050 unique characters are their own NFT’s, and where all of the code running the game itself takes place entirely on the blockchain. Players can purchase and trade these on a marketplace, as well as put them to work. </p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><p lang="en" dir="ltr">Looks like I’ve just joined the <a href="https://twitter.com/EtherOrcs?ref_src=twsrc%5Etfw">@EtherOrcs</a> 🔥 <a href="https://t.co/z32SFXV58j">pic.twitter.com/z32SFXV58j</a></p>&mdash; Mike Shinoda (@mikeshinoda) <a href="https://twitter.com/mikeshinoda/status/1448030628528541699?ref_src=twsrc%5Etfw">October 12, 2021</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p><br><br>These individual characters all have worth by virtue of their uniqueness and scarcity, but like many other NFT-based games, leverage another aspect of the GameFi space; play-to-earn. By completing tasks and objectives within a game, users can be rewarded with further NFT’s or more commonly, in-game tokens, which can be exchanged for other cryptocurrencies or fiat currencies.</p>



<p><br>Fundamentally, the main objective is still enjoyment. “The biggest take away from this “NFT 2021” moment that I don’t see being talked about is “fun”” tweeted Vayner Media CEO and NFT proponent Gary Vaynerchuck. “It’s just “fun” and a lot of adults need more “fun” board games were a big part of culture 3-4 decades ago”.</p>



<p><br>While the popularity of NFT-based play-to-earn gaming is in relative infancy, blockchain based gaming has been around almost as long as the cryptocurrencies they are built on, with games like Minecraft having servers for years with built-in bitcoin integrations. However, DeFi (Decentralised Finance) through other cryptocurrencies and tokens such as Ethereum, which allow for smart contracts, lower fees and faster execution.</p>



<p>Early-adoption or no, the NFT gaming space offers massive opportunity, and major players are taking notice, with venture capital firms and game developers partnering up to explore and develop opportunities, and major gaming companies such as Ubisoft having launched an incubation program for crypto-based games which has been responsible for some of the most popular play-to-earn games on the market today, including the incredibly popular Axie Infinity, which reports more than 1.8 million daily users.<br><br>“A friend of mine stopped working recently and told me about this game that they play to earn some extra cash online” says Jamaine Krige, who plays several different mobile-based NFT games. “I figured I was playing games anyway so I might as well be compensated for the time I’m spending.”<br><br></p>



<p>While cryptocurrencies themselves have become codified and accepted, the opportunities offered by rapid developments in the space are growing, and GameFi looks to be one frontier about to massively expand.</p>


NFT non fungible tokens infographics on colorful abstract background. Pay for unique collectibles in games or art. Vector illustration.

Game to earn – how the blockchain is transforming the face of videogames

<p><iframe loading="lazy" src="https://www.youtube.com/embed/EJf4hGrbWTQ" width="640" height="360" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>This panel discussion from the EU-Africa SME Summit puts the spotlight on workplace-based professional training. To ensure competitive development, economies depend on strong and resilient SMEs. SMEs in turn need a special agenda on entrepreneurship to strengthen the training role of entrepreneurs in society&#8230;.</p>


EU-African SME Summit 2021: Work-based professional training makes competitive & resilient SMEs

<p><iframe loading="lazy" src="https://www.youtube.com/embed/QyZY5Ft6rPg" width="640" height="360" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>With the local equities market recording another weekly negative close, analysts at Vetiva Securities say they expect the market to start the week mixed as investors continue to cherry pick attractive counters across board. Joshua Odebisi, Senior Banking Analyst at Vetiva Research, joins CNBC Africa for a focus on the banking sector which closed the week in the red&#8230;.</p>


Will banking sector drive Nigeria’s equities market?

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<p>Helping businesses navigate the modern market is part of the job employees at Omnibiz have signed up for. Using technology, the company says they have provided services for over 45,000 retailers as they work to solve the inefficiencies in traditional supply chains in Nigeria. Deepankar Rustagi CEO and Founder of Omnibiz joins CNBC Africa to put their work into perspective&#8230;.</p>


Omnibiz’s Rustagi on how technology can help improve efficiency in Nigeria’s retail supply chains

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<p>An exciting week at the Intra-Africa Trade Fair 2021 in Durban, KwaZulu-Natal draws to a close and we bring you the final episode of Focus on Trade and Industry KwaZulu-Natal. CNBC Africa’s Dewald Rademeyer speaks to Durban ICC CEO, Lindiwe Rakharebe; Yunnis Hoosen, Head of Invest SA; and Dr Amany Asfour, President of the Africa Business Council&#8230;.</p>


IATF2021: Durban ICC’s Rakharebe on what it means to host Africa’s largest trade exhibition

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<p>The Intra-Africa Trade Fair 2021 held in Durban, KwaZulu-Natal can assist the local economy in two ways, South African Minister of Trade and Industry, Ibrahim Patel, told CNBC Africa’s Dewald Rademeyer on the third day of the Fair. First is by securing direct orders from buyers from elsewhere on the continent, second is to build the relationships and partnerships that will be needed with the launch of the African Continent Free Trade Area. Also in this episode of Focus on Trade and Industry KwaZulu-Natal, Ravi Pillay, KZN MEC for Economic Development and Tourism shares his thoughts on the opportunities this Fair brings to the SMME sector&#8230;.</p>


IATF2021: Intra-Africa Trade Fair to strengthen intra-Africa bonds

IATF2021: Intra-Africa Trade Fair to strengthen intra-Africa bonds, says Trade Minister Patel

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<p>The Energy in Africa series explores the energy industry in Africa and what it will take to make the leap to cleaner energy. We&#8217;ve spoken to experts in various parts of the industry, who spoke about financing energy development in Africa and the strategies required to make the leap to cleaner energy, as well as Policy, Law and Regulation, and explored the kind of leadership needed to drive the necessary technological advancements. In this episode, CNBC Africa’s Tania Habimana and her guests focus on innovation and sustainability as key considerations in building a more sustainable future&#8230;.</p>


Energy in Africa: The Business Case for Sustainability: Africa Energy Funding Gap

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<p>In a unanimous decision South Africa’s Central Bank announced a 25 basis-point increase in the repo rate to 3.75 per cent. Lesetja Kganyago, Governor of the South African Reserve Bank explains the reasoning and gives insight on the country’s economic outlook&#8230;.</p>


Sarb hikes interest rate by 25 bps (full speech)

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<p>This Focus On Africa Land Policy Conference 2021 examines the need to highlight the values and importance of land in Africa, particularly for the creative sector&#8230;.</p>


Focus On Africa Land Policy Conference 2021

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<p>At the Intra-Africa Trade Fair this week, CNBC Africa anchor Wole Famurewa caught up with Akin Dada, Group Executive, Corporate and Investment Bank, Ecobank Group, Kanayo Awani, Managing Director, IATF and Mike Ogbalu, CEO of PAPSS for this episode of Focus on IATF 2021&#8230;.</p>


IATF2021: How to advance the intra-Africa trade across the continent

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<p>Traders at UBA say stable liquidity levels will push high demand levels in the secondary market as investors channel their unfilled Primary Market Auction bids from last week&#8217;s auction, into the secondary market. Ifeoma Onyejekwe, Fixed Income Trader at UBA, joins CNBC Africa for a mid-week update on activities in the Fixed Income market&#8230;.</p>


UBA: Stable liquidity to drive demands in secondary market

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<p>Traders at Access Bank say they expect a calm trading session today, as Investor’s shift attention to the outcome of a Debt Management Office 150-billion-naira bond auction scheduled for today. Eki Teddy Onaghise, Senior Banking Officer, Treasury Sales at Access Bank, joins  CNBC Africa to discuss activities in the Fixed Income and FX market&#8230;.</p>


Investors upbeat ahead of DMO ₦150bn bond auction

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<p>In this Focus On Intra-Africa Trade Fair 2021, CNBC Africa anchor Wole Famorewa catches up with Solomon Quaynor, VP, Private Sector Infrastructure &#038; Industrialization, AfDB and Emmanuel Assiak, Acting CEO, FEDA to discuss the topic of Multilateral Development Finance in the Context of AfCFTA&#8230;.</p>


IATF2021: Multilateral Development Finance in the Context of AfCFTA

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<p>On the second day of our Focus on Trade and Industry KZN broadcast from the Intra-Africa Trade Fair in Durban, we put the spotlight on Durban Tourism and the Richards Bay Industrial Development Zone&#8230;.</p>


IATF2021: Intra-Africa Trade Fair brings economic boost to KZN’s economy

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<p>A report by the Judicial Panel of Inquiry on the Lekki Toll Gate Shooting has indicted the Nigerian Army and the Police of complicity in the death of protesters at the Lekki Tollgate in 2020. The panel also made some recommendations to the government. What role does civil society play in ensuring that these recommendations are implemented? Kolawole Oluwadare, the Deputy Director at the Socio-Economic Rights and Accountability Project, joins CNBC Africa for more&#8230;.</p>


Lagos panel report indicts army

Lagos panel report indicts army, police over Lekki shooting

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<p>Ghana’s Minister of Finance is scheduled to present the Budget Statement and Economic Policy of the Government for the 2022 Fiscal Year on Wednesday, with a debate on the budget to hold from November the 22nd to 26th, 2021. John Gatsi, Dean School of Business at the University of Cape Coast in Ghana joins CNBC Africa for more&#8230;.</p>


Ghana to present 2022 budget before parliament

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<p>From the Intra-Africa Trade Forum – We hear from prominent African leaders about building trade and investment bridges across the continent&#8230;.</p>


CNBC Africa

Game to earn – how the blockchain is transforming the face of videogames

EU-African SME Summit 2021: Work-based professional training makes competitive & resilient SMEs

Will banking sector drive Nigeria’s equities market?

Omnibiz’s Rustagi on how technology can help improve efficiency in Nigeria’s retail supply chains

IATF2021: Durban ICC’s Rakharebe on what it means to host Africa’s largest trade exhibition

IATF2021: Intra-Africa Trade Fair to strengthen intra-Africa bonds, says Trade Minister Patel

Energy in Africa: The Business Case for Sustainability: Africa Energy Funding Gap

Sarb hikes interest rate by 25 bps (full speech)

Focus On Africa Land Policy Conference 2021

IATF2021: How to advance the intra-Africa trade across the continent

UBA: Stable liquidity to drive demands in secondary market

Investors upbeat ahead of DMO ₦150bn bond auction

IATF2021: Multilateral Development Finance in the Context of AfCFTA

IATF2021: Intra-Africa Trade Fair brings economic boost to KZN’s economy

Lagos panel report indicts army, police over Lekki shooting

Ghana to present 2022 budget before parliament

IATF2021: African leaders highlight strengthening trade & investment relations

News Tips

Advertise With Us

CNBC Africa

Game to earn – how the blockchain is transforming the face of videogames

EU-African SME Summit 2021: Work-based professional training makes competitive & resilient SMEs

Will banking sector drive Nigeria’s equities market?

Omnibiz’s Rustagi on how technology can help improve efficiency in Nigeria’s retail supply chains

IATF2021: Durban ICC’s Rakharebe on what it means to host Africa’s largest trade exhibition

IATF2021: Intra-Africa Trade Fair to strengthen intra-Africa bonds, says Trade Minister Patel

Energy in Africa: The Business Case for Sustainability: Africa Energy Funding Gap

Sarb hikes interest rate by 25 bps (full speech)

Focus On Africa Land Policy Conference 2021

IATF2021: How to advance the intra-Africa trade across the continent

UBA: Stable liquidity to drive demands in secondary market

Investors upbeat ahead of DMO ₦150bn bond auction

IATF2021: Multilateral Development Finance in the Context of AfCFTA

IATF2021: Intra-Africa Trade Fair brings economic boost to KZN’s economy

Lagos panel report indicts army, police over Lekki shooting

Ghana to present 2022 budget before parliament

IATF2021: African leaders highlight strengthening trade & investment relations

News Tips

Advertise With Us

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