Massive growth in crypto-gaming – GameFi can significantly surpass traditional AAA games, provided that companies in the sector manage to cope with the main challenges they face today.
Will GameFi soon be ahead of AAA games?
According to data published in DappRadar’s October BGA Games report, blockchain games and metaverse projects raised 1.3 billion dollars during the last quarter.
This figure is in 48% decrease compared to the second quarter of this year. However, it represents almost twice the amount fundraising was completed in its entirety last year.
Despite the crypto winter, blockchain games and metaverse projects continue to grow in 2021. Recently, the CEO of scal, Jack O’HolleranHAD pointed out that “Today’s AAA Game Companies” can “Looks like a peanut” in the face of GameFi’s continued evolution.
To clarify, Skale is a multi-chain network based on Ethereum (ETH) that powers web3 games, while AAA games refer to those produced by major publishers and benefiting from a relatively large budget and media coverage.
Besides the CEO of Scale, Absolute Reports had also spoken of an optimistic outlook for the games play to win (P2E). He advanced the figure of $2.8 billion increase between 2022 and 2028, i.e. development with a compound annual growth rate of 20.4%.
Challenges to be faced, a business model to be found
Although GameFi has development potential that could allow it to surpass traditional gaming, companies in this sector must undertake a number of challenges.
They should to improve user experience blockchain games, particularly by eliminating or reducing gas costs or the complexity associated with holding and trading NFTs. For Jack O’Holleran, a lot efforts “about comfort” should be set to massively attract users to GameFi.
Improving the user experience is not the only difficulty facing companies in this sector. They also need to find one sustainable business model. Today, GameFi players have the choice between play to win and play to own (P2O).
IN play to win gamesplayers are primarily motivated by financial rewards, in the form of cryptocurrencies or immutable tokens, which they can earn. of play the games yourself also earn these rewards, but players are looking for fun first – just like in classic games.
Play-to-own then offers additional features compared to play-to-win, such as various rewards that gradually unlock in-game and allow a player to improve the value of an in-game asset they have won.
of GameFi so it can record a exponential growth. It attracts more and more traditional video game giants, such as Ubisoftcompanies that need to evolve to avoid offering outdated products in the long run.
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