Web3 Innovations like GameFi, DeSci, DeFi, ReFi are Solving Real World Problems

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The rise of Web3 has enabled innovation and change that extends far beyond cryptocurrency and NFT trading. With the potential to become a major force for social impact, Web3 technology is enabling blockchain-based projects to solve real-world problems and make a difference.

Innovative Web3 verticals have arisen to help tackle some of the pressing issues that communities and society as a whole face today.

GameFi-for-Good

GameFi has become one of the fastest-growing sectors in the Web3 industry, accounting for about half of all blockchain usage based on January 2023 data from DappRadar. Combining gaming and finance to create new ways to generate income through Play-and-Earn (P&E) games, the GameFi movement has become most popular in Southeast Asia, where financially disadvantaged communities play NFT games as a means of earning supplemental income. Over 23% of the populations of Vietnam and the Philippines have reportedly engaged in P&E games, a region where the median monthly minimum wage is only US$300.

Taking a step to create social impact even furthe…

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