# 1.2 The Play to Earn model is revolutionizing the gaming field The concept of GameFi (blockchain games) was first introduced by Mary Ma, Chief Strategy Officer of MixMarver, at the Wuzhen Summit in China in 2019. As the name suggests, GameFi comes from DeFi-one of the important application directions of blockchain and can be considered as a collection of DeFi, NFT, and games. NFT (non-fungible token) is another important component of GameFi, which also belongs to the practical application of blockchain technology. GameFi officially entered a period of high-level growth in 2020 when blockchain projects, represented by Axie Infinity, introduced the Play to Earn model. Public data shows that as of July 30, 2021, the blockchain game market had attracted investments of nearly $1 billion, while the amount was only $72 million in the whole year of 2020. As of August 2022, the blockchain game market had attracted institutional investment and user investment of over $5 billion. The growth rate is only seen in the highly explosive phases of NFTs and DeFi. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://smart-finance-4.gitbook.io/smart-finance-white-paper/1.-smart-finance-overview/1.2-the-play-to-earn-model-is-revolutionizing-the-gaming-field.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.