GameFi has the potential to spark mass adoption of Crypto.
A combination between gaming and finance. A term coined by Yearn founder Andre Conje.
GameFi is a perfectly disruptive use case for blockchain technology to empower players by allowing players to truly own their in-game assets.
Many people are interested in Crypto, but the barriers for entry can be intimidating.
Most people do not want to spend their time pouring over charts and data and can be put off by the complexity of DeFi platforms.
However, most people have grown up playing some form of games, so earning extra income through very simple tasks from playing games is exciting to many and will help demystify Crypto.
The blockchain gaming industry is still in its infancy, with earning-focused games dominating the market because of the financial incentive being a magnet for new users.
But, with this earning focus, some of the games lack quality and “fun”. As much as earning is a great incentive, it’s the “fun” which keeps users in games.
What will be the main driving factor for blockchain gaming in years to come will be the gameplay quality.
AAA blockchain games will provide the level up in play and the next step to mass adoption. Potentially even rivaling traditional gaming.
The market cap for gaming tokens is around $12bn at the time of writing, and the traditional gaming market was valued at $198bn in 2021 and is expected to reach a value of $340bn by 2027.
So there is a lot of room for explosive growth, and there are only a few tokens >1$ right now, so it wouldn’t be farfetched to believe there could be some serious money to be made with these tokens in the next bull run, especially if the AAA games fly off.
*** Disclaimer that is not financial advice but more just an opinion, and I have been wrong in the past ***
