GameFi is already a multi-billion-dollar industry! The Play-to-Earn Gaming market is expected to surpass $2.8 billion in value with a CAGR of 20.4% in the next 6 years, according to research from Absolute Reports. The question is: what will its future be like?
Future of GameFi?
Data show that WAX and Binance Smart Chain are particularly well-liked by users, with 2.94 million and 2.49 million users, respectively. Splinterlands is now in second place with 147,820 active users, behind Alien Worlds on WAX and BNB Chain with 196,700 users.
Despite the steep correction in blockchain-related cryptocurrencies for the gaming sector, gaming has proven to be one of the most robust businesses when it comes to keeping active players. This indicates that it’s a sector that might open the door for the next bull market.
Change in the gaming and blockchain industries is being influenced by GameFi. It provides the user control we desperately need as we advance with Web3.
Blockchain-based P2E games give developers, players, and guilds a simple, enjoyable approach to maximize the financial and practical benefits of gaming. GameFi has dismantled conventional obstacles to entrance into the gaming and cryptocurrency sectors.
Venture capital investors have also showed interest in GameFi throughout the tough times, according to Cointelegraph research. Analysts point out, however, that as Web3 evolves, GameFi also needs to buck up. When designing new games, developers must prioritize user experience & results over revenue and profits.
Decentralization — The Primary Growth Catalyst for GameFi
The success of GameFi depends on its capacity to maintain decentralization. It can alter how we view gaming if it adheres to its guiding principles of user choice, influence, and rewards.
The decentralized nature of GameFi’s DeFi incentives and markets is one of its most intriguing aspects. Consumers will be hurt if the market becomes more monopolistic, with few businesses controlling the market to suit their interests. Users’ interests may not be served by this.
Metaverse and GameFi
GameFi and the metaverse will work together to provide ideal conditions for a new virtual ecology. It can provide gamers with an entirely new method to interact with their games because of its real-world incentives. It won’t be long until mainstream video games use this model.
The metaverse needs to be valuable to users in order to succeed. Incentive programs, user agency, and control can accomplish this. GameFi will contribute to ensuring the metaverse’s future decentralization.
GameFi can be a useful tool for increasing user interest in the metaverse since it gives users the ability to affect change. The metaverse will attract greater investment and developer support as more individuals decide to participate in it and take advantage of its benefits.
Engagement with GameFi will also strengthen the digital economies of the metaverse. The metaverse will flourish once there are more options for utilizing your digital assets.
Despite being in their early phases of growth and popularity, Metaverse and GameFi have achieved great progress with their target audience. GameFi, which is fusing decentralized finance with online gaming like never before, is transforming the way we interact with digital experiences.
gDEX — Enabling Limitless Scalability for gameFi
To enable GameFi to achieve limitless scalability and discoverability, gDEX is assisting in enhancing access to the major Web3 gaming APIs. Our ground-breaking P2E gaming platform is providing the most frictionless Web3 onboarding from Web2 thanks to its one-of-a-kind offerings to players, producers, and guilds alike.
We at gDEX are extending the paradigm to Web3 gaming in a manner similar to how Steam’s online platform enhances the online gaming experience for players, gaming organizations, and studios using console platforms.
gDEX relies on a new token economy, chain-agnostic tools, and a fluid Web3 experience to carry out this ambition. Gamers can gain extra $GDEX partner tokens, EXP bonuses, and other benefits on gDEX by completing integrated GameFi objectives.
In addition to the $GDEX benefits they receive for actively taking part in the gDEX ecosystem, they also receive this. We are assisting in the creation of a rewarding, sociable, and interactive platform for users everywhere.
While providing players with chain-independent tools to monetize their identities and fully manage their gaming experience, gDEX is growing connection and discovery for all Web3 gaming stakeholders.
The Largest Web3 Community Gaming Platform in the Metaverse
gDEX brings the power of Web3 AND the experience of Web2
Gaming in the metaverse is full of problems. Currently, onboarding the next billion Web2 users into Web3 is still a myth. gDEX makes this a reality
gDEX’s revolutionary Web3 Community Gaming Platform consists of a Lego block suite of chain-agnostic tools that reduce & improve every step of the gaming experience & enables games to jumpstart unlimited scalability & discoverability & users to seamlessly manage all their Web3 gaming virtual assets, identity, activity & experience from one platform across the metaverse.
Join the gDEX Metaverse community:
Website — https://gdexmetaverse.com/
Telegram — https://t.me/gdexmetaverse
Telegram News Channel — https://t.me/gdexmetaversenews
Medium — https://gdexmetaverse.medium.com/