➤ #GameFi : What’s the standard for going back to the glory days?
“- GameFi is poised for a strong comeback during the next bull run.” “- 100x in Gamefi is not hard.”
Want it early? Everything you need to know⬇️
By 2023, the global games market is expected to reach US$245 billion, surpassing the video on demand and music markets combined (US$104.4 billion and US$28.3 billion). Approximately 3 billion people are gamers, underscoring the huge popularity of this industry.
The GameFi Marketplace experienced extraordinary growth in the third quarter of 2021, attracting more than 1 million users to the UAW Index. In the fourth quarter of 2021, growth surged 318%, bringing the total number of users to 1.5 million as of November 30.
The Death of GameFi: What went wrong? Developing sustainable Web3 games involves protecting content and controlling the game economy. This provides opportunities for creative problem solving, especially in the early stages.
As user growth accelerates and digital assets are unleashed, balancing supply and demand is critical for the ecosystem to thrive. However, this delicate balance proved to be the seed of Gamefi's downfall.
Axie Infinity and STEPN are the champions in Web3 gaming. They experience rapid volatility associated with the cryptocurrency market. The game's design and economic model attracted users who saw it as an opportunity to make money. ➜This is the main reason.
The purpose of users playing games is often to make money, but they often ignore the true nature of games, which is to have entertainment as the main purpose. ➜ When the in-game economy declines and cannot satisfy players’ desire for profit, players will give up the game.
Many projects follow this path and end up losing all player participation. In fact, players’ blind pursuit of making money often leads to the birth of some projects that take advantage of users’ desire for financial gain and ultimately cause fraud. ➜ Gamefi completely crashed.
What are the criteria for a Gamefi comeback? Web3 game developers cannot ignore the psychological strategies most games employ in order to generate significant revenue.
Sinks and Faucets In game design, sinks and faucets manage asset flow. Faucets allocate assets, while sinks remove assets. Understanding their importance is key, as imbalance can harm a game over time. When designing sinks and faucets for video games, the focus is on growing new players and engaging existing players. The lack of in-game activity can lead to inflation and a drop in token prices, causing players to abandon the game.
❯ Market Controls Market controls are in-game mechanics that enable players to exchange items directly within the game or with other players. The Market is a place where players can buy, sell, and trade in-game items. Additionally, players can buy and sell items directly to each other without using a market. Now, I call this feature the parallel trading mechanism.
CS2 is a traditional FPS game with a successful in-game item market. Users can freely buy and sell gun skins, knives, gloves, etc. on the Steam market. Steam is an online platform developed by Valve for game distribution and social communication. Additionally, gamers have the ability to trade skins directly between each other, bypassing market intermediaries, and negotiate prices to satisfy both parties. As a CS2 player, I really like this skin trading mechanism.
❯ Battle Pass A rarely discussed aspect of Gamefi is the battle pass. While gamers are very familiar with the concept of a battle pass, its importance is often overlooked. It acts as a ticket, bringing benefits to players who invest their time and resources.
Let’s take a look at how the FPS online game
@VALORANT implements this function: At the beginning of each ranked season, “Valorant” will launch a battle pass. Players who purchase the battle pass will earn experience points by playing the game. As they accumulate experience points, they unlock various rewards. These rewards vary from skins to in-game currency, which can be used to upgrade skins or purchase cosmetics, among other things.
In many cases, battle passes allow users to obtain stunning skins whose aesthetic value exceeds those available on the market. Personally, I buy the battle pass for every season in Valorant.
◢ Is it possible for GameFi to make a comeback? When considering the answer to this question, many factors come into play. However, there are some positive aspects that offer hope for a bright future for GameFi.
Despite the high failure rate of the 2021 Web3 gaming bubble cycle, I noticed that investment funds, especially Binance Labs, A16z, and Animoca Brands, are investing heavily in projects and game studios in 2022 and 2023.
Game studios have raised more funds than Defi projects, second only to Layer 1 and Layer 2 blockchains. Despite disappointing token and NFT prices, venture capitalists are confident in GameFi's future growth. Sui rose to prominence with appeals exceeding $300 million and focused on developing gaming-oriented ecosystems. Presented via Grant, Bullshark Quest 1 and Bullshark Quest 3, including great Web3 games.
@Ronin_Network was originally created for the development of Axie Infinity because Ethereum was slow and had high fees.
Ronin is now used by other web3 game projects.
@oasys_games has raised $20 million in its first round of funding, led by Republic Capital. Oasys has been recognized for its significant contribution to the blockchain gaming industry as web gaming giant Ubisoft builds new games on the blockchain.
Beside this there is
▪ @playbigtime▪ @EarnAlliance▪ @FantasyFanton▪ @EverMoon_nft▪ @SkyborneLegacy▪ @PartyIconsOGX
My friend @wacy_time1 wrote a great post talking about which projects have increased more than 100 times, please continue reading.
The Web3 Gaming project's token could rise more than 100 times as early as 2024. But to catch it, we definitely need to be early.
Here’s everything you need to know about GameFi and the projects that can launch their tokens
In order to avoid a 1000x increase without being noticed, I would like to remind you of $AXS . This is a groundbreaking Play-to-Earn (P2E) concept whose token has grown over 1000 times in less than a year. I still believe this is just a beta version of the real crypto game and we can expect more participation, which could lead to significant profits.
Today, it's a promising field known as "Web3 Gaming" or GameFi, and it's heavily backed by major venture capital funds. Although the crypto gaming community has yet to gain mainstream popularity, I believe the project’s token has huge upside potential. Since there are currently fewer people participating, there is a greater chance of participating early. Let’s take a look at the statistics of the Gamefi sector in 2023: - GameFi currently has a market capitalization of $9.79 billion - GameFI has a total of 650,000 active users, 16% of which are from AlienWorlds - The number of protocols will only increase, indicating a huge boom in the green market
Gaming tokens can explode from the hype as gamers are able to achieve extraordinary things. Remember how the Redd!t Gamers teamed up to take on Wall Street in January 2021 and send
$GME up over 2500%?
This incident showed the true strength of the community and resulted in significant losses for funds involved in short. I expect a similar explosion in Web3 gaming as tens or even hundreds of thousands of gamers enter the market.
As I mentioned before, another aspect that may influence industry expansion is the enthusiasm shown by important legacy gaming companies, including:
@Ubisoft@SquareEnix@ATVI_AB@EpicGames
This has the potential to be an important catalyst in attracting traditional gamers to use Web3 Gaming.
The GameFi trend has been growing rapidly over the last month. This is not surprising since projects without tokens can reward users in a bull market. ➤ Here is a list of 10 promising tokenless projects that could be the next @AxieInfinity .
1. @WreckLeagueHQ is an action-rich mecha combat game based on NFT.
Players build mechas and engage in intense 1v1 battles. Features include building mechs and participating in events and tournaments. There are no tokens for the project yet, but: • The first Genesis Mint box for Shipwreck League was available in August • 2 more mints are planned for this year • An alpha version of the game was released in September
2. @PartyIconsOGX - The world’s first free-to-play mobile battle royale game with tokenized game assets. There are two game modes: PARTY ROYALE and CARNIVAL, with physics engine and hero icon role-playing system.
• The project has 2 NFT collections: OBADGE and OGX̅ • A third series is planned to be launched soon • Now you can earn X̅ points which will be converted into future tokens.
3. @ApeironNFT is a blockchain-based game that allows you to earn money while playing.
Features God Game and RPG battle modes through which you can collect, trade and use unique digital assets to fight.
The token $ANIMA will be airdropped to leaderboard holders and game testers. • $17.5 million in funding. • Many people miss this message. • NFT is priced at 0.04 ETH. • Big news will be announced next month.
4.
@EarnAlliance was founded by Joseph Cooper in 2022. It is a Hong Kong-based organization that aims to guide gamers, communities and games to embrace the future of blockchain. Their goal is to break down barriers and unlock potential through online social communities, education, and entertainment. Earn Alliance raised $4.75 million in its latest funding round on December 11, 2022. They have been offering
$ALLY tokens to the community. How to obtain tokens:• Complete tasks and mint badges. • Collect some boxes and receive
$ALLY . • Offer new games to its platform
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@ageofdino is an NFT game running on the BSC chain. Developed by the Macdow game technology team, it integrates dinosaur living habits, reproduction, fiction, etc.
The project has raised $8 million from funds including Xterio,
@animocabrands ,
@SevenXVentures and others. • There was a recent airdrop event that gave away $1,000,000 DAM. • The game token is currently not traded and is waiting for TGE on DEX.
@TheTreeverse is a top-down, open-world, category-less mobile MMORPG that emphasizes cooperative play and social features. The project is currently in private alpha phase.
• There are currently no tokens for this project.
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@playSHRAPNEL is an FPS game built on the
@AVAX blockchain. SHRAPNEL offers a wide range of player creation tools, integrating combat, creation, curation, and connection into a vibrant community.
• The project has already conducted airdrops to NFT holders, but there may be more to come. • Early players with extraction packs are also eligible to receive tokens.
@GetBlockGames is a network of players spanning multiple chains. Over 100 games have been launched on the platform, and they have also announced the
$BLOCK token, which will be used across the entire ecosystem. It’s been a crazy week here at Blockgames. • Their NFT increased to 0.05 - 0.13. • It is very hyped now and people are rushing to get in after the ZTX airdrop value. • Users can generate rewards through recommendations, on-chain activities, in-game achievements and community participation
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@SkyarkS is a AAA fantasy JRPG game with interoperable NFTs. It consists of 2 GameFi games ("House of Heroes" and "Rise of Legends") and 1 SocialFi Metaverse(SkyArkVerse). Powered by
@BinanceLabs . To maximize your chances of receiving rewards, make sure to:• Ask for an invitation or code to gain access. • Earn points and move up the leaderboard. Social missions, events, and early playtesting are likely to contribute to this. • Don’t forget to pre-register on their website.
@DimensionalsRPG - Unique NFT role-playing game. Users can explore different dimensions with their own heroes and paths. Your hero is retained as an NFT. Dimensionals is a @MinoGamesInc project that blends Pokémon and Marvel Super Heroes.
• Mino Games has raised over $15 million from investors such as Andreessen Horowitz, SYBO Games, Y Combinator, Standard Crypto and more. • Alpha Trial #2 is currently ongoing and ends in 12 days, you can earn Alpha Points
I am sure that as blockchain technology gains global recognition, more and more projects will appear in this field in the near future. It's worth paying attention to Web3 Gaming and get ready to reap huge rewards! That's why I need to be prepared...
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