How GameFi contributes to the growth of crypto and NFTs
The GameFi sector has achieved unprecedented growth over the past couple of years and is attracting investors. The crypto industry has grown tremendously over the past couple of years, and one of its biggest drivers is the GameFi industry. GameFi — a portmanteau of gaming and finance — enables gamers to earn rewards while playing.The market has been growing steadily and presently has a token market cap of approximately $9.2 billion. Notably, GameFi networks have continued to thrive despite the crypto winter. Indeed, the industry is forecasted to reach a $74.2 billion valuation by 2031.How....
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Although non-fungible tokens, or NFTs, have a modest presence in the video game business through GameFi, some players find that to be too much. Quick and ferocious backlash over the prospect of any well-known gaming company using digital currencies has forced some developers to quickly abandon ambitious plans. Gamers Aren’t Interested In GameFi In the […]
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....
Real Realm is coming to be a game-changer in the GameFi universe. Now, players have a platform to enjoy their favorite war strategy game while still enjoying many other benefits that come with it, without necessarily spending funds. Blockchain technology has revolutionized the gaming sector, with GameFi snowballing. NFTs are quickly being adopted, with gamers […]
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 Animoca Brands co-founder suggested that Asian gaming companies don’t have to deal with the same amount of pushback against NFTs that U.S companies have faced. Animoca Brands co-founder Yat Siu thinks that GameFi has the biggest opportunity for growth in Asia, as gamers there don’t hold the same vitriol towards nonfungible tokens (NFTs) as they do in the West. Sitting down with Cointelegraph during Asia Crypto Week, Siu argued that Asia generally has more of a welcoming culture towards gaming and advancements in tech such as NFTs, digital property and Play-to-Earn (P2E). “I think that....