Will GameFi 2.0 be released in 2022?
Follow report Newzoo’s global games market in 2021, the number of global gamers increased by 5.3% from 2015 to 2021 compared to 2020 and has now passed the 3 billion mark. In the same year, total global gaming revenue increased 1.4% year-on-year through 2020 and now stands at $18.03 billion, with mobile gaming revenue accounting for 52%. Games are an important form of entertainment that cannot be replaced. As technology advances, this form of entertainment is combined with blockchain, creating a new gaming paradigm: GameFi.
Market games Global five 2021 | Source: Newzoo
In the first half of 2021, the idea of GameFi, defined as a combination of Gaming + DeFi + NFT, really took shape. Axie Infinity is the first major game to show how decentralized finance and irreplaceable digital assets can work with games.
In the second half of 2021, GameFi overtook DeFi to become the hottest sector in the crypto market. With the renaming of Facebook to Meta, Metaverse became widely known.
Total Monthly GameFi Logs in 2021 | The source: Footprint Analysis
GameFi started its explosive growth in March, lasted through August and has been steady ever since. GameFi’s transaction volume saw two growth peaks during this period on April 9th and December 27th.
quantity gGameFi deals in 2021 | The source: Footprint Analysis
There are two reasons:
– WAX introduces the ability to create, buy, sell and trade digital goods all in one. The chain attracts most users thanks to its ever-improving throughput of supported games and cheaper gas fees. It is a blockchain focused on in-game items and digital collectibles.
– Hive is a very innovative decentralized blockchain ecosystem. In the second half of 2021, Hive has the main user base of the game Splinterlands. The game added a gamer-versus-gamer (PvP) battle mode and launched game governance token SplinterShards (SPS) in August, taking GameFi transaction volume to $44.2 billion.
Hive, WAX, BSC and Ethereum are the main battlegrounds for GameFi in 2021.
Daily GameFi Users in Cross-Chain | Source: Footprint Analytics
The top 5 games in terms of trading volume are:
– DeFi Kingdoms: A play to earn game that works on Harmony with many features that allow users to earn while playing and have a great experience.
– Axie Infinity: With a unique economic model that provides liquidity based on rarity, it was the first game to start the boom and popularize GameFi.
– Bomb Crypto: In this play-to-earn game, the player leads a team of bombing heroes to fight monsters, and each can earn tokens through skillful gameplay and contributions to the system.
– Elfin Kingdom: Consists of a decentralized finance farm and an irreplaceable token with gamification elements merged into a gaming income platform. However, this game is only active and has no IDO (Initial Coin Release on the DEX).
– Nine Chronicles: Free-to-play role-playing game with its own blockchain and cryptocurrency.
the gthe hottest name from date December 31, 2021 | Source: Footprint Analytics
Distribution of market shares of series and games from date December 31, 2021 | Source: Footprint Analytics
As the GameFi cryptocurrency market is growing rapidly, large institutional investors are constantly getting into the blockchain world. Q4 was the peak of GameFi funding.
Amount mobilized by month | Source: Footprint Analytics
amount of money mobilize accordingly month | The source: Footprint Analysis
In 2021, NFT and DeFi will see widespread adoption, while GameFi has just exploded for the first time.
How will GameFi continue to grow in 2022? GameFi 2.0 will:
– Include more social elements: By integrating DAO properties, games allow players to have more say in the development process.
– Easier to play: While most current GameFi projects are geared towards profit, the next innovation will be to make games that are actually fun.
Has lower barriers to entry.
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