Why Are GameFi Projects Crucial Contributors To Crypto Adoption?
The gaming industry is pegged to hit the $200 billion mark by 2024 and is constantly outperforming expectations. Play-to-Earn (P2E) is trending in GameFi, besides being a significant catalyst for crypto adoption. According to Triple-A, the total revenue from blockchain gaming has risen from $321 million in 2020 to $1.5 billion in 2021. Blockchain-based games have attracted 1.22 million unique active wallets (UAW) in Q1 2022. Popular titles like Axie Infinity and Decentraland accounted for 22,000 of those. The promise of decentralized ownership, inclusive decision-making procedures, and....
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While roughly half of the investors joined the GameFi space initially for profits, 89% of GameFi investors succumbed to Crypto Winter 2022. GameFi, the fusion of gaming and decentralized finance (DeFi), attracts a set of investors that tend to choose projects based on their use case rather than money-generating potential.The GameFi ecosystem attracts GenZ investors and gaming enthusiasts. As a result, it stands as an entry point for numerous first-time investors. A ChainPlay survey participated by 2428 GameFi investors revealed that 75% of the respondents joined the crypto space solely....
Projects like Axie Infinity and Decentraland have shined the spotlight on GameFi, a new trend that refers to the financialization of gaming. Blockchain-focused investment firm Sanctor Capital has raised $20 million to fund emerging projects in the cryptocurrency space, offering the latest evidence that venture capital continues to flood the market. The investment fund will be used to bootstrap projects in some of crypto’s hottest segments, including DeFi, GameFi and cross-chain infrastructure development, Sanctor announced Tuesday. In addition to funding early-stage companies, Sanctor will....
Lately, the crypto market has been hit by certain short-term impacts as a result of Anton Nell and Andre Cronje’s departure from crypto. As the market pins its hope on new projects, investors are also in an urgent search for promising projects. ViaBTC Capital, a rising star in crypto investment, has started to invest in new crypto categories starting from late 2021. It has focused on GameFi, a small category that may promise huge returns. Analyzing on-chain/off-chain indicators and the gaming fundamentals, ViaBTC Capital is looking for the next hit in GameFi. New opportunities amidst....
The Ethereum network continues to see the largest number of monthly-active contributors at around 2,000 as of July. Despite crypto market turbulence, active contributors across Bitcoin, Ethereum, and Solana’s top projects have increased by an average of 71.6% per year since January 2018, according to a new report.The findings come from an August 2 report sent to Cointelegraph by technology investment firm Telstra Ventures, which found that Solana had the most significant annual increase in monthly-active contributors, growing at a compound annual growth rate of 173% since January 1,....
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....