Ajaypal Pama: BSV attracts new users to blockchain games

GameFi, a digital currency company that brings gaming to the blockchain, aims to make digital currency accessible to everyone in playful ways.

Incorporated in Zug, Switzerland, the company offers its users a three-tier digital currency ecosystem that allows players to progress from one token to another. The PIKA coin currently running on the Ethereum network is GameFi’s first digital currency. METRA is its second token offering that can be used to either stake or evolve into the third and rarest GameFi coin, Ki.

In a conversation with Charles Miller on this episode of CoinGeek Conversations, company chairman Ajaypal Pama says GameFi is a one-stop hub where users can enjoy the ecosystem in more ways than one – as a player, investor or NFT trader.

GameFi provides its users with a deflationary model design where PIKA, METRA and KI are predicted to become scarce commodities that create significant wealth for investors. Ajaypal noticed that with other blockchain games, the rewards start to decrease as more players join. For this reason, GameFi limits the number of users who can play GameFi’s games to earn money. Ajaypal says this will allow the value of their NFTs to increase due to the limited amount.

Currently, GameFi’s blockchain games are built on the Ethereum network, but as Ajaypal explains, Ethereum’s gas fees are too high, making it difficult to bring in new users. “The entry barrier for people coming into crypto is way too high and that’s what BSV solves, that’s why we’re choosing BSV – BSV can do micropayments, Ethereum can’t.”

Ajaypal is looking to have a feature in their ecosystem that will give users access to BSV. “We would like to have a bridge available that the user can connect their various tokens over to BSV,” he says. With Ethereum, players must pay $10 in gas fees to get $5 in rewards, and new users must pay a $30 network fee to buy $100 in digital currency. “It makes no sense,” he says.

Before joining the Bitcoin space, Ajaypal was an electrical engineer who started trading stocks and currencies with the guidance of Capital Hungry, a platform that offers fundamental and technical market updates and analysis. Originally trading stocks and forex, Ajaypal switched to digital currency trading and made his first investment with the Pikachu coin. Unfortunately, Pikachu’s original developers decided to abandon the project, he says. Pikachu coin owners were stuck with a 95% draw and didn’t know what to do.

Ajaypal decided to reach out to the Pikachu community and convinced them to trust him and his team with a new project. “We told them, send in your old tokens, we will empty the liquidity pool, we will launch a new token that is ours, Pika, and we will use the liquidity pool to fund our new project – and that’s how Pika came to life.”

The project has since developed after a series of ups and downs. Ajaypal and his team managed to increase the market value of Pikachu to $100 million from the previous $35,000. But after a series of changes that resulted in Pika, many of the users have lost interest. “There are too many changes going on, first there’s a switch from Pikachu to Pika, now there’s Pika V1 and there’s Pika V2, they kind of lost faith in the project.”

Pika’s market value is now valued at $4 million. Despite the significant drop, Ajaypal is confident that the coin will rise above its previous market cap of $100 million. “The point is, we’re here to prove people wrong, but you know, we’re still here, we’re still evolving … and we’re taking it to $1 billion this time.”

Ajaypal who was present at the BSV Global Blockchain Convention in Dubai is impressed by what he saw in the BSV ecosystem. “I love it here, everyone is so keen to help each other.”

As for what to expect from GameFi, Ajaypal mentions an NFT marketplace that has already launched on Polygon, a three-token system that is on Coingecko and Coinmarketcap, a fully developed game for iOS, Android and PC and an upcoming trading card game . “There is much to come at GameFi that is sure to bring value to the company.”

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