Market

What does GameFi, which will overtake DeFi in 2022, mean for crypto?

As cryptocurrencies like Bitcoin, Altcoins, and NFTs grow, market participants tend to ignore GameFi. At first glance, the Kitties and Axies are more entertainment than a serious investment. However, a report from Huobi Research revealed why gaming and GameFi are more than just a pastime.

GameFi outperforms DeFi

Huobi Research Report notice:

“As of this summer, the number of GameFi users has surpassed DeFi and makes up the majority of the total number of decentralized app users. In early December, GameFi’s weekly active users hit a record high of 9.21 million.

It’s important to know that GameFi’s appeal isn’t limited to “play-to-earn” models. In fact, the report shows that GameFi has the potential to transform the way users own and control digital assets. Huobi Research particularly emphasizes the right to use, acquire, and transfer assets in order to meet ownership requirements.

“Why is GameFi so strong? Because it effectively secures the user’s personal property. In GameFi, the owner has the power to decide whether to sell certain resources or not. This strengthens the independence of the users, stimulates competition in the market and thus saves transaction costs. “

An investor may be wondering what is ownership in the Metaverse? A good recent example is that some properties on the Axie Infinity platform have reportedly sold for more than $ 2.3 million tweets her.

It’s important to note that some people assumed this to be common. Bitmain co-founder Jihan Wu, for example, expressed his belief that GameFi will play an important role in the next year if it doesn’t compete with traditional game companies.

https://twitter.com/RyanWatkins_/status/1444050982946672647?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

“Axie Infinity is currently valued at $ 30 billion. It will be in the top 5 companies Video games Most valuable in the world by market capitalization ”.

India enters the field

A November survey by the KuCoin exchange found the top 5 cryptocurrencies owned by Indian investors. While Bitcoin is, as expected, in the middle of the top spot, Decentraland (MANA) is a surprising favorite. The digital real estate platform recently sold a piece of land on Fashion Street for around US $ 2.4 million.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Consensys Linea Decentralization Through New Swiss Association

Consensys Linea Decentralization advances with the new Swiss-based Linea Association, promoting governance, growth, and a…

1 hour ago

From Memes to Millions: How One Investor Is Leveraging Pepe Coin Gains to Bet Big on BlockDAG’s Future

Uncover the tale of a meme aficionado who parlayed a modest Pepe Coin investment into…

1 hour ago

4 Coins That Will Skyrocket and Create Unbelievable Wealth in Your 2024-2025 Bull Run Portfolio

With the cryptocurrency market positioning itself for an upsurge within the years 2024–2025, it is…

1 hour ago

Bitcoin Trading Volume Skyrockets to $145 Billion as Retail Investors Return

Bitcoin trading volume has surged to an all-time high of $145 billion in the last…

4 hours ago

Italy Considers Reducing Proposed Italy Crypto Tax to 28%

Italy considers lowering its proposed Italy crypto tax increase to 28% from an initial 42%,…

7 hours ago

Bitcoin Spot ETF Inflows Reach $818M Amid 5-Day Positive Streak

Bitcoin Spot ETF Inflows Hit $818M as Net Inflow Streak Extends to 5 Days, with…

7 hours ago

This website uses cookies.