As Axie Declines, Other Blockchain Games Emerge as Leaders in the GameFi Economy
In spite of what has been a difficult downturn for the cryptocurrency market, blockchain gaming is proving its longevity for the future through projects showing clear resilience and emerging as new leaders in the space. Axie Infinity (AXS), whose pet-themed trading blockchain game catapulted to notoriety during the economic shutdowns of 2020, has continued its painful descent over the weekend, with active users contracting to under 60k. As noted in an exhaustive Twitter (TWTR) thread covering Axie’s market shift, these numbers are in stark comparison to the 3 million player high at Axie’s....
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While NFTs could change the gaming economy, some blockchain-based projects can be less than honest. Over the last couple of years, games using blockchain technology have been actively developing and attracting new players, and the decentralized games market — broadly referred to as GameFi — has gained great popularity. The GameFi industry started back in 2013, and since then, the sphere has been slowly developing, but in 2021 the popularity of decentralized games exploded along with the boom in nonfungible tokens (NFT). According to the DappRadar analytical service, the total value of one....
Since 2021, Play to Earn (P2E) games have boomed. Following the success of Axie, all kinds of P2E games have popped up to join the feast, each demonstrating unique advantages in this carnival. Some projects beat all the first-gen GameFi projects with improved gameplay but became outdated as the GameFi popularity dwindled. Some project teams […]
GameFi has an image problem – literally. If you look at the top games in the blockchain gaming space they provide a lot of variation in gameplay and tokenomics, but many share one central flaw: they just don’t look good. From the cutesy 2D monstrosities in Axie to the drab, dead-eyed, polygonal avatars of Decantraland, one clear image emerges: Graphics has taken a backseat in the priorities of crypto-based game developers. This shortcoming has dire consequences for an industry that is built around demand for its intangible assets and hampers these games’ opportunities for....
Smooth Love Potion (SLP) is skyrocketing in value just prior to the launch of Season 20 of Axie Infinity, the world’s most popular play-to-earn blockchain game. In a matter of days, the SLP token triples in value. As of February 12, 2022, SLP is now selling for $0.027 with a 24-hour range of.024 -.032. The in-game currency has a market capitalization of $927,503,521 and a trading volume of $1,365,400,410 during the 24-hour period. SLP is now the 102nd largest cryptocurrency by market value. The rally occurs following a significant update to the game’s economy, which removed....
The blockchain is fast spreading its “tentacles” to different consumer sectors, and adoption is at break-neck speed. Over the last decade, the revolutionary technology has proven to be worth its weight in gold, with many applications within and beyond the world of (decentralized) finance. One of the industries getting disrupted by decentralized finance in recent times is the gaming industry. GameFi is the new buzz in the cryptocurrency industry. By bringing together DeFi, NFTs, and the practical application of blockchain technology to the gaming industry. There is currently a paradigm....