The blockchain game industry will grow exponentially in 2022. So what is attracting the massive influx of players and funds into the gamefi?
The gamefi represented by Axie Infinity has spawned a new game economic paradigm-Play-to-Earn.
In just a few months, Axie Infinity’s daily activity has increased from 4000 to 2 million, because it provides players with a source of income while playing.
Compared with traditional games, Play-to-Earn has brought about a change in the business model (or production idea) ,while giving digital identities, assets, and ownership to players, game companies still have considerable revenue.
Many gamefi are worth more than tens of millions of U.S. dollars in just a few days. Even gamefi union are also expensive. For example, YGG, a guild that started from Axie Infinity, has rapidly jumped to a billion U.S. dollars in the past few months.
But Play-to-Earn is not simply a matter of changing the economic model, the production of the entire game must be adjusted accordingly. Metaverse
The concept of metaverse has been very popular recently, especially after the participations of technology giants such as Facebook and ByteDance.
The metaverse is still in the conceptual stage, carrying people’s imagination of the digital world, so it covers a wide range of fields, from social giants to VR manufacturers, it seems that everything can be metaverse. But in any case, games, especially gamefi, are the biggest beneficiaries of this wave of metaverse.
Because Metaverse needs sufficient digital supports, and NFT is the focus. After all, the playability and returns are enough to attract users and funds to participate. This is enough to explain why the traditional game financing of 10 million US dollars is already a leader in the same type of game, while the gamefi started with 100 million US dollars (of course this also shows that there is a bubble). Conclusion
The current gamefi market growth is slowing down, but from the development history of DeFi and NFT, this is the end of the first wave, and the second wave is still on the way. Because the first wave is often a coincidence that detonated several products, and then a large number of imitations quickly emerged, which together pushed up the heat, but innovative and disruptive products often take time to brew, especially games.
According to the analysis of the investment and financing dynamics of gamefi in the past few months, after February 2022, there will be a large wave of emerging gamefi influx. So what the new paradigm of the second wave of gamefi will be? And will it disrupt the game industry’s business model? The reveal is coming on its way.