The video game industry is currently priced at $178 billion, with the GameFi sector making up $21 billion. If Web3 is about to disrupt the industry as Web2 did in the 2000s, It is changing the funding model altogether.then venture capital fund managers have a lot of reason to pay close attention to the gaming sector.
While DeFi has greater depth from a total asset value perspective, the incredible size of the gaming audience is an indicator of the comparatively outsized opportunity that exists for investors in the space.GameFi isn’t just another opportunity for VC funds. It is changing how and who gets to invest in new projects — or what is called IGOs (Initial Game Offerings).
The crypto market saw a significant decline in 2022, but not all sectors faced the same trajectory. In 2022, the funding market is very active, with capital flowing into the GameFi industry at an unprecedented rate,with start-up game projects being hotly pursued by capital and the industry developing positively.
The GameFi market as a whole saw a 194.19% increase in Q1 funding compared with the data last year and a 40.78% decrease on a season-over-season basis. Out of all project categories, indie games-those video games typically created by individuals or smaller development teams,-were at the forefront in terms of both the number and amount of funding than any other category of GameFi project.
As we all know, GameFi is a play-to-earn gaming destination that combines video gaming, blockchain technology, and decentralized finance (DeFi). All the things that Metaverse is trying to replicate exist in the real world, to players, the Metaverse is a social space where they can compete, while socializing with their friends.
So, let's make a bold guess, is it possible that the World War 3 will take place in the metaverse? If yes, then will people be hurt?
In traditional warfare, two nations go to war over something tangible and valuable. Play-to-earn games have economic value in the Metaverse as well as in the real world. This new way of gaming could replace physical wars where nations can battle in a virtual environment.
According to a recent DappRadar report,Blockchain gaming activity rocketed 2,000% in the first quarter of this year compared to a year earlier, accounting for 52% of blockchain activity.
GameFi is already on-ramping hundreds or thousands of participants. In Southeast Asian countries like the Philippines, the huge popularity of GameFi is changing the old perception of video gamers from time-wasting layabouts to productive young entrepreneurs who are able to support their families through their online exploits.
Due to GameFi's rapid growth, it can be the bridge that leads to much broader crypto adoption in the coming years.
#GameFi #Blockchain #Finance
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