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BHO CEO Nhat Phan Identifies Gamefi-Fun To Be The Next Trend Of Blockchain Games

In 2021, GameFi - playing games to earn money - created a hot trend, with a market capitalization of up to 30 billion USD in a short time. To break out of the stigma that this is just a speculative bubble trend, and build long-term sustainable values, GameFi will need to develop in the direction of improving user experience, reducing barriers for newcomers, and most importantly go back to the very essence of gaming – play for fun, not just to make money.

On March 15, at the talk show "The future of GameFi - Play and Earn or Play to Earn?" organized by HotQA, Mr. Nhat Phan - Co-Founder and CEO of BHO, and Mr. Hung Vu - CEO of MATA openly discussed, commented and gave valuable insights on the development of GameFi in the current online game market and digital finance.

From the perspective of an investor in the blockchain field, as well as a game creator, Mr. Nhat said: "The development orientation of GameFi in the near future is to build a sustainable and transparent financial and entertainment platform, while keeping the core value that game is for entertainment, and play-for-fun. If a developer fails to do this, it will be difficult to survive in the long run."

Faced with many challenges and opportunities that GameFi brings, both CEOs agree that GameFi will not die easily, especially in the ever growing development of Blockchain. GameFi will rely on Blockchain to develop, and even traditional games will gradually integrate with this digital finance technology.

In line with the common orientation and goals of BHO & MATA, the two leaders decided in the near future to cooperate, build and offer solutions to promote the development of GameFi-Fun: Back to basic (Free to play, Play for fun) combined with Play and Earn, bringing this type of game back to the true meaning of "playing for fun", while providing comprehensive experiences for players as well as helping to build and connect community to create value (token).

GameFi-Fun will be the future development trend of this emerging industry, where gamers will not need to invest money at the start, and can still participate in the game experience. Factors such as economics, age, as well as knowledge about Blockchain will no longer be barriers of entry in GameFi-Fun.

During the talk show, MATA CEO - Mr. Hung Vu also shared specifically about the development orientation of MATA in the next 10 years, as well as the strategic cooperation with BHO during this time: "MATA itself will find ways to apply blockchain to all products, as well as game applications produced by MATA. The products that are under MATA such as Blade & Wings, Final Clash, King of Games Online, etc. will gradually be blockchain-powered."

As to why he chose BHO as the development platform for MATA's game products, Mr. Hung explained: “The BHO network has outstanding advantages such as high speed and low cost. This is also the foundation to build a GameFi platform with a large transaction volume, which helps to bring a superior experience to players. In addition, the Launchpad product coming out at the end of Q1, as well as other products in the near future shows that BHO is a complete ecosystem that will help attract an initial user base for projects. As a project owner, I have always wanted to find a provider with a comprehensive platform with a full range of such services.”

With the goal of solving the common difficulties of GameFi, thus opening a door to make GameFi access easier for end users, BHO CEO - Mr. Nhat Phan emphasized: “BHO wishes to bring to the global gaming community truly entertaining games, besides helping the community have more income in the process of their game enjoyment. Therefore, being able to simplify and break down all barriers and boundaries in terms of blockchain technology for even those who do not know about cryptocurrencies is the primary goal of BHO. We believe that this will be the optimal solution that brings the highest value to GameFi in Vietnam in particular, and the world in general. In 2022, BHO will continue to focus on completing core products including LaunchPad, Wallet, NFT Marketplace, and DEX to complete its ecosystem in order to maximize the development of GameFi projects in the future."

Info Box:
- BHO is a fast, low-cost blockchain network geared towards environmental friendliness. In addition to providing a comprehensive solution for DeFi (decentralized finance), BHO also aims to bridge the gap between the technology space and the real world, bringing the best technology experience to users through different products on the BHO Network ecosystem.
- MATA is a company with more than 5 years of experience in developing and operating web and mobile games. MATA's signature games such as "Blade and Wing" and "Final Clash" have attracted more than 5 million users, with a total revenue of about 3 million USD per year. These two games each reached the Top 1 positions in both downloads and net sales on Google Play & App Store.

Published on March 17, 2022

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