- The blockchain GameFi sector is incubating many advanced projects.
- This sector provides players with new ways to monetize their gaming skills.
- DeFi Kingdom, Xchange Monster, etc. are notable games in 2022.
The crypto industry sometimes experiences sector rotation. Those who understand the story behind why new sectors are emerging and how they can impact the broader ecosystem can somehow get huge rewards. I can do it.
After decentralized finance, the next major trend or sector rotation that will make a big difference in the crypto industry is GameFi. Blockchain-based video games provide players with new ways to monetize their gaming skills, contrary to the traditional norms of game mechanics. In a pandemic of a Third World country like the Philippines, Play-to-Earn games were life-changing.
Everyone is making big bets on established up-and-coming projects as the wider market recognizes the potential of GameFi. The GameFi project raised more than $ 1 billion in January 2022 alone, according to a DappRadar report.
In this rapidly expanding space, it can be difficult to track all projects and determine which one is most likely. Here’s a compilation of the top five GameFi projects you don’t want to miss from your 2022 watchlist.
1. Axie Infinity
In 2021, Axie Infinity launched a parabolic run of the GameFi market, demonstrating the potential and promising concept of Play-to-Earing. In the short term last year, Axie Infinity’s average daily revenue was about $ 30 million.
Axie Infinity’s simple game mechanics has driven the majority of game enthusiasts to try, including creating Axie NFTs, forming teams, winning battles and making money. Axie players were also able to generate passive revenue from AXS (Governance Token) staking.
The future of Axie Infinity is very promising. The team plans to move to a more decentralized structure that allows players to manage nearly $ 1 billion worth of finances. In addition, a new version of Axie Infinity, The Origin, will be available in the first quarter of 2022 with many improvements to the storyline, graphics, and design.
2. DeFi Kingdoms
DeFi Kingdoms can be claimed to be the most complete Play-to-Earing game in the GameFi ecosystem. While not yet ahead of Axie Infinity in terms of market capitalization and lifetime value in NFT sales, DeFi Kingdoms is otherwise unique gameplay combined with DeFi features that can prove superior to other P2E games. is created.
A unique value proposition for DFK players is that you can level up your in-game NFTs or heroes by participating in daily quests. This will improve the yield over time. In addition, players can participate in the liquidity mining of JEWEL, the in-game currency, to generate passive rewards.
Another reason to be bullish about DeFi Kingdoms is the cross-chain expansion to. This greatly increases the locked value and makes it available to other blockchain user bases.
3. Exchange monster
Play-to-Earn games form the core of GameFi, but they are not the only projects to revitalize the game economy and develop ecosystems. Infrastructure projects like Xchange Monster are capturing huge market opportunities by bridging the gap between game creators / publishers and the community.
Xchange Monster avoids the gray areas of the decentralized world by providing game providers with a fully regulated platform. This gives more game creators and developers the confidence to move into the world of Web3.
The all-in-one GameFi platform features many products such as payment gateways with fiat money, NFT marketplaces, exchanges, wallet applications and much more. As a result, game creators have immediate access to the complete infrastructure to handle user interaction from start to finish. For players, Xchange Monster offers low transaction costs and immediate access to in-game NFTs that can be exchanged directly for fiat currencies.
4. Liberty gaming
Blockchain players can earn decent rewards by playing the game consistently. However, it is also important to consider how much the player will have to spend on the NFT to access the game. This is where game guilds like Liberty Gaming come in.
Liberty Gaming offers players scholarships by covering the initial investment to buy NFTs. The guild is also building a large treasure trove of new play-to-earning and metaverse assets. Some of them are League of Kingdoms, Alien Worlds, Crypto Blondes, and The Sandbox. To become a scholar, players can apply for their discord group and contact the guild manager.
So basically, Liberty Gaming is democratizing for those who need blockchain games most by providing the in-game NFT and education needed to succeed in the gaming ecosystem.
5. Ilbium
One of the most anticipated blockchain titles in the gaming industry is Illuvium. It is said to be the first game to have a gameplay similar to AAA video games. Illuvium’s open world is developed using Unreal Engine 4. And it is expected to give players visual enjoyment.
Illuvium has also created a subset of the main game called Zero. This is used to create virtual assets in the metaverse, similar to how sandboxes convert virtual assets to NFTs. Players can live in virtual lands and add more resources to increase their value in the secondary market. To sell in-game assets such as weapons, skins and armor, players use Illuvi Dex, Illuvium’s NFT marketplace.
Illuvium players don’t have to worry about high gas prices thanks to Immutable X’s Layer 2 solution. This will greatly improve the gaming experience and performance of Illuvium. After many delays and rescheduling, Illuvium will finally release an open beta in the second half of the first quarter of 2022. By the end of the year, a mobile version of the game will also be available.
Why GameFi is prepared for explosive growth
Games have proved to be one of the best, if not the best, use cases for blockchain technology. As NFTs and Metaverse become more prominent, blockchain games offer many opportunities for players to enjoy and earn significant income. As a result, it can drive mainstream adoption much faster than other market sectors, leading to explosive growth in projects being built in the GameFi industry.
Disclaimer: The views and opinions expressed in this article are for the author only and do not necessarily reflect the views of CoinQuora. The information in this article should not be construed as investment advice. CoinQuora recommends that all users do their own research before investing in cryptocurrencies.
