90% of GameFi projects are ruining the industry’s reputation
Too many projects are releasing over-hyped trailers that they can’t match with gameplay. The GameFi industry is set to unleash its massive potential within the next six years. According to Absolute Reports data, its estimated value will grow to $2.8 billion by 2028, with a compound annual growth rate of 20.4% in the same period.It’s a quieter and perhaps less scandalous branch compared to the more newsworthy centralized finance (CeFi) and decentralized finance (DeFi) spaces, but this hasn’t impacted its force nor its promise. Even in the depth of a bear market, crypto gaming has proven to....
Related News
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....
It was recently announced that 15 leading GameFi projects on Binance Smart Chain (BSC) will host a coordinated airdrop with over $30,000 for participants. The participants include PlanetSandbox, Deathroad, MechMaster, AMAKUNI, MetaStrike, Rise of Defenders, Kingspeed, Ancient Kingdom, My Master War, Metaxiz, Heroes & Empires, Etermon, Hydraverse and Animverse. In total, $30,000 worth of crypto assets is up for grabs. Rewards are made up of governance/utility tokens, non-fungible tokens (NFTs) and so-called hero boxes, and a total of 100 winners will be selected to share the prize pot. On....
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....
The latest data from Coin 98 Analytics shows the Web3 gaming platform Gameta as the top-ranked gamefi (the intersection of gaming and finance) project after it garnered 1.85 million recorded subscribers by September 28. The data also shows that the top five gamefi projects alone accounted for more than 70% of September’s total gamefi subscribers in the top 20. Most Popular Project on the BNB Chain According to Coin 98 Analytics’ latest rankings of the leading gamefi projects, Gameta, a Web3 gaming platform, topped the list with 1.85 million subscribers as of September 28,....
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....