Tuyere or bubble? Can GameFi reproduce the “DeFi Summer”?

“Next, we will enter GameFi”, this is what Andre Cronje said in September last year.

In one year, the crypto market has experienced the DeFi summer, NFT boom, and crazy “animal coins” waves. In the summer of 2021, GameFi took over the handover of the market and became the most concerned one of the current market and capital. Race track. According to statistics from Blockchaingamer.biz, as of July 30, 2021, the investment in the field of blockchain games will reach 1 billion U.S. dollars, and the total amount in 2020 will be only 72 million U.S. dollars.

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.

Tuyere or bubble? Can GameFi reproduce the "DeFi Summer"?

Source of income from various project agreements in the past six months: Token Terminal

The success of Axie is mainly due to the “Play-to-earn” model. In blockchain applications without borders, this method of “playing gold” through games has become a way for many users to use blockchain applications to earn money. A way to make Axie become the most successful product in the GameFi field.

Apart from Axie, what other popular chain games are worth paying attention to? Under GameFi’s lively appearance, are there other things worth studying? Is GameFi a vent or a bubble?

1. GameFi project inventory

After AC proposed this concept last year, GameFi was hotly debated in the industry. At that time, the term NFTFi was also proposed. After a year of development, the current GameFi is basically summarized into an equation by everyone: GameFi = DeFi+NFT+games, this is also a consensus of everyone at present. DeFi is the core of GameFi, NFT is a necessary means of decentralization, and games are the shell of GameFi.

After understanding GameFi, let’s take a look, besides Axie, what other GameFi chain games with high attention in the market?

Illuvium. A NFT collection and RPG battle game based on the Ethereum network, which is mainly integrated with the Immutable-X Layer 2 network solution. Currently the game is not officially launched (the public beta version is expected to be launched in December), and currently only features such as liquidity mining and lock-up mortgage are enabled.

In addition, the co-founders of this project, Kieran and Aaron Warwick, are the younger brothers of the founders of Synthetix, a synthetic asset application. Moreover, Stani Kulechov , the founder of YGG and AAVE, is also an investor in Iluvium, which makes Illuvium gain a lot of attention. .

Tuyere or bubble? Can GameFi reproduce the "DeFi Summer"?

CryptoBlades. Now it has become the second largest dapp on BSC after PancakeSwap. According to dappradar statistics, this battle game attracted 580,000 users on its first day of launch . Currently, this game has more than 50 million transactions and Generated more than $92 million in revenue.

My Neighbor Alice. A multiplayer farm building game, each player can occupy the land and dress up according to their own preferences. They can also participate in activities such as farming, fishing, insect catching and beekeeping on the farm. This is a game running on the BSC chain. Currently, the game is still in the Steam game test stage. According to the official website information, the complete game will not be available until the spring of 2022. The game will be available through the Steam platform at that time. It has become the hype point of this game, and Townstar games of the same type.

Tuyere or bubble? Can GameFi reproduce the "DeFi Summer"?

REVV. A blockchain racing game is a branded racing game created by the blockchain game company Animoca Brands (a game maker, listed on the Australian Stock Exchange). The gameplay mainly includes NFT collection and competitive racing. They both Launched F1 Delta Time, MotoGP, Alien Worlds and many other games.

There are also many sports-related on-chain games, such as SoRare, a football game, where players can collect and trade player cards and form teams to compete. Zed Run, a blockchain horse racing game, players can buy, cultivate, sell and participate in the competition. On August 9, Zed Run also reached a cooperation with the National Modified Car Race (NASCAR) and plans to launch NASCAR brand horse racing in the game. Similar games include Derace, The Unstable Horse Yard, etc.

MyDeFiPe. This is a game similar to CryptoKitties built on BSC. In July, it attracted more than 170,000 users and gained more than 54 million U.S. dollars in transaction volume. In addition to the above, there are sandbox games represented by The Sandbox, Roblox, and Decentraland, and role-playing games represented by BigTime, Mist, Ember Sword, and Guild of Guardians.

2. Side chain and Layer 2

The high interaction of the game will definitely bring about an increase in the interaction on the chain, and the performance bottleneck and high GAS of Ethereum will definitely limit the large-scale development of the game on the chain. Therefore, we can see that more and more games choose to migrate or It is directly built on the side chain of Ethereum, Layer 2 or other public chains. This transformation will naturally bring new blood to these side chains, Layer 2 and other public chains.

The Axie Infinity mentioned above is built on the side chain Ronin. At the end of April, after Axie completed the migration from Ethereum to Ronin, it ushered in a surge in NFT transaction volume, which has been maintained ever since. Illuvium is a game built on the second-tier network of Immutable-X. Dark Frost, praised by God V, is built on Xdai, the side chain of Ethereum, and Zed Run is built on polygon.

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 dappradar statistics, 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 interacting with blockchain games on WAX increased year-on-year. 1082%!

Tuyere or bubble? Can GameFi reproduce the "DeFi Summer"?

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 differentiated assets based on scarcity as the standard for DeFi, and DeFi also gave NFT commercialized value through financial means  . The combination of players brings new vitality to the on-chain game.

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.

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 due to 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 an important part of a game’s advancement to the meta-universe.

Although the emergence of GameFi 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/tuyere-or-bubble-can-gamefi-reproduce-the-defi-summer/
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