Axie Infinity turned its game into a billion-dollar economy that has helped thousands of gamers in the Philippines and other low-income countries cope with the consequences of pandemic mitigation measures. The main element of success: rights to assets.
Players can access game and industry content on third-party marketplaces such as OpenSea. The freedom to set costs and negotiate smoothly has unleashed a veritable tsunami of economic activity in and out of the game.
Cointelegraph Research’s 30-page report looks at the five most sensible titles and what it has replaced since the days of Second Life and is produced in partnership with Galaxy Fight Club, The Sandbox, Planetarium, Immutable x, SolaDefy, Decentral Games, X World Games and Animoca. Marcas.
The report delves into the differences between the virtual economies of the past, such as Second Life or World of Warcraft, and blockchain-based games, such as Axie Infinity or DeFi Kingdom.
Develop a functional market with in-game currency and open criteria for gaming hardware beyond the success of any progression studio in the past. But blockchains offer cost-effective building blocks for game developers. The generation allows developers to release a token in less than an hour or configure game hardware as non-fungible tokens (NFT). This gives users solid asset rights and the ability to take their characters and pieces out of games to third-party marketplaces or even other games for little money. additional progression cost.
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With the addition of decentralized investment technology (DeFi), players have monetary opportunities that they have never had before, which has led to the ultra-fast adoption of those games.
The report then compares the five most sensible blockchain game titles: Alien Worlds, Axie Infinity, Bomb Crypto, DeFi Kingdom, and Splinterlands. Each of those games has other gameplay and provides other incentives to players. Daily active users, trading volume, deposited balances and gameplay – as well as tokenomics, which are the economic incentives for the in-game currency, are compared.
But no report would be complete without covering the dark aspect of blockchain gaming. Environmental considerations, a transparent department between the haves and the have-nots, legality and tax implications are all valid considerations around those new economies. This is especially because undeniable good fortune makes those games increasingly for gamers and developers.
GameFi shares were guilty of more than 35% of all Polygon transactions during the peaks of 2021 and early 2022. But, without solving the imaginable problems, the long-term viability of the entire blockchain playground is compromised, as critics and regulators will use. they. arguments to obstruct progression or hinder player participation.
The report has a positive conclusion about the future of blockchain gaming and the potential unleashed by economic freedom. Reduced transaction costs, more powerful asset rights, and open criteria all work in combination to break the planned economies of previous gaming markets.
The blockchain generation opens up a world of new opportunities for developers and gamers. If environmental and regulatory considerations can be addressed, 2022 will be the year for GameFi to date.
This article is for informational purposes only and constitutes investment advice, investment research, or an invitation to buy or sell monetary instruments. Specifically, the document updates individual investment or other advice.