Is GameFi a vent or a bubble?

Since Axie Infinity detonated the entire chain game market, it has promoted the rapid development of the entire chain game sector, and Axie has also become a giant in the entire Dapp field. Not only has it become the NFT product with the highest transaction volume in history (the transaction volume reached 600 million US dollars in July), it also has the ability to attract money comparable to the 3A masterpieces of the glory of the king.

According to statistics from Token Terminal, in the past three months, Axie Infinity has topped the list with USD 342 million in agreement income, far exceeding PancakeSwap’s USD 90.4 million, and also exceeding the sum of all current mainstream project agreement income.

Is GameFi a vent or a bubble?

After a year of development, the current GameFi is basically summarized by everyone as an equation: GameFi = DeFi + NFT + games. This is also a consensus of everyone at present. DeFi is the core of GameFi and NFT is a must for decentralization. Means, the game is the shell of GameFi.

In fact, GameFi is not a completely new concept. According to data, in the second half of 2019, Mary Ma, Chief Strategy Officer of MixMarvel, first proposed GameFi, which is gamification finance and a new gamification business, in a speech at the Wuzhen Summit.

Is GameFi a vent or a bubble?

It can be found that although there is a Game, the focus of GameFi is still on DeFi, and the main thing is to explore a new development method of decentralized finance and the token economy. According to the current development, most GameFi can be understood as DeFi+NFT.

In addition, there are public chains WAX, Flow, enjin and high-performance public chains BSC specially built for games, which are also beneficiaries of this wave of games.

According to statistics from dappradar, in July, BSC became the most active public chain with 65.8 independent users, and WAX ranked second with 33.6. In the last quarter, the number of daily active wallets for WAX interacting with blockchain games increased year-on-year. 1082%!

Is GameFi a vent or a bubble?

Of course, there are also games that directly choose to build on other well-known public chains, such as the farm game DeFiLand built on Solana, the space exploration MMO game Star Atlas, and the NFT game dungeon-raiders built on FTM.

These public chains, Layer 2 or side chains have cheaper GAS fees and faster interaction capabilities than Ethereum. If the popularity of GameFi continues, these underlying applications will also increase.

Going back to GameFi itself, the emergence of GameFi benefited from the maturity of DeFi and NFT technologies and products. NFT introduced DeFi to differentiated assets based on scarcity, and DeFi also gave NFT commercialized value through financial means. The combination of players brings new vitality to the on-chain game.

Is GameFi a vent or a bubble?

But the argument that “the new GameFi collided by DeFi and NFT is still a game of capital” also represents the attitude of a large number of people towards the current GameFi.

After all, if a game wants to attract more active players who actively participate, it should focus on the exploratory nature of the gameplay, the sense of accomplishment and competitive elements, and the social opportunities that motivate players to participate, not just the temptation of money.

Excluding subjective and emotional factors, it is undeniable that the GameFi mode is currently used to realize the cold start of the game and promote the optimal solution for the transaction of game assets.

However, criticized as “blockchain gamification, not game blockchainization”, a real blockchain 3A masterpiece is needed to solve this doubt. This requires the participation of real game manufacturers, not a Problems that can be solved in a short time.

Is GameFi a vent or a bubble?

Finally, it is foreseeable that the evolution of GameFi will gradually develop towards socialization and DAO, which means that GameF will shift to a DeFi+NFT+game+DAO/social model. In the later stages of the development of each chain game, in the decentralized governance The DAO will definitely be launched gradually under the demand of the Internet. After all, the lack of on-chain products for decentralized governance is a cripple without a foot.

In addition, for the love of gamers, social networking in the game is a rigid demand, and it is also an important part of a game’s advancement to the meta-universe.

Is GameFi a vent or a bubble?

Although the rise of GameFi this time is full of speculation, this new “blockchain + game” gives a game more imagination and vitality.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/is-gamefi-a-vent-or-a-bubble/
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