As all of us are well aware of what GameFi is. But for those who do not know, GameFi refers to a mix of the most recent crypto innovations with the traditional pleasure of winning rewards. Players on GameFi can lend, trade, or even rent out their earnings. Even though traditional games encourage players to collect and exchange digital assets, the value of these – sometimes scarce – objects is rarely allowed to be actively traded for real-world money.
Since GameFi has become such a well-known phenomenon in today’s time, certain trends are emerging in GameFi that will keep you on your feet. Let’s have a look at them below:
1. The Metaverse and NFTs
NFTs are likely to become GameFi’s economic backbone. There is an irrevocable relationship between both growing industries that are set to accelerate, both in-game sales and the unique digital ownership rights provided by NFTs. The emergence of metaverse start-ups and finance has resulted in a three-way interdependence, with each section supporting the others. Virtual reality and augmented reality (VR/AR) devices are used in metaverse games to build immersive 3D settings where players may buy/sell NFTs and earn cryptos.
2. More Investors
With GameFi grabbing and maintaining interest, it appears that compelling and sophisticated games will be developed, attracting a larger number of backers and investors to the DeFi sector. Another prominent franchise that has landed a narrative in The Sandbox, where gamers will be able to enter a simulated zombie world, is The Walking Dead. The world seems to be liking the integration of Crypto, Gaming and NFT world, but there is no doubt in saying that GameFi space is ready to explode in the coming future.
3. Cloud Gaming gaining Popularity
Cloud gaming refers to the process of playing video games on servers located remotely in data centres. On a PC or console, there is no need to download and install games. Instead, to transmit gaming data to an app or browser downloaded on the remote host, streamers require a steady internet connection. The game is processed and played on a distant server, yet everything is visible with interactions on your device. It’s the same as Netflix or any other streaming service. The only exception is that the server providing the video stream may also monitor and respond to your inputs.
Due to its various benefits and cost redundancy, cloud gaming is an excellent choice. It has been emerging and will reach heights in the coming future. The fundamental feature that makes cloud gaming appealing to those looking to migrate from traditional gaming is cross-platform syncing.
The number of blockchain-based gaming dApps is growing at a significant rate. These tendencies, taken together, point to an ecosystem that is rapidly evolving and improving.
Overall, GameFi and blockchain gaming will have a promising future in the coming years. Many new blockchain games will be released, and there is a largely untapped market of gamers who might switch from traditional games to blockchain games.