The GameFi sector, or games where you can spend or earn cryptocurrencies, has seen rapid development in 2021-2022. In total, the crypto gaming industry currently has a capitalization of $34 billion, and the daily trading volume on the largest exchanges is $7-12 billion. The creators of BlaBlaGame.io blockchain game talk about why GameFi is so popular and explain that in the future simple games will be part of the market. The idea of making money playing games is understandably popular with game developers and gamers. The GameFi market is made up of a young audience of gamers aged between 19 and 30 and is growing by leaps and bounds, although it is not as strongly tied to the Bitcoin exchange rate as other currencies. At the same time, the popular GameFi tokens, traded for billions of dollars a day, are of interest not only to young people, but also to professional traders in the cryptocurrency market.
“GameFi’s popularity lies in the fact that it can reach multiple audiences at the same time. Young players earn and spend money as they play, ensuring circulation and demand for the token. Market professionals speculate on the exchange and make money, and investors invest in debt. Thus, a game for a specific niche has become an investment tool for everyone”, say the BlaBlaGame developers. “In fact, the GameFi marketplace has become a universal tool at the intersection of cryptocurrencies, gaming, investing and speculative trading.”
BlaBlaGame developers note that the GameFi market is very heterogeneous in terms of geolocation. “There are many merchants from Hong Kong and China who trade GameFi tokens and play games in Turkey, Vietnam, Korea, Nigeria, Malaysia and the Philippines. By the way, we especially want to mention the Philippines, as we will also be targeting this audience. The Filipino mindset is unique. If you walk up to a Filipino on the street and offer to play, 9 out of 10 people will agree. GameFi is so popular in the Philippines that the SLP token is already accepted in stores, and the country’s authorities have proposed taxing the use of the token. A Filipino player even bought two houses while playing Axie infinity. The idea of making money quickly and doing nothing is fundamental in these countries. This is neither good nor bad – it is simply a powerful market driver.” Basically, today the market can be divided into two parts: the first involves complex games in terms of mechanics, where you need to buy access to the game and in-game items, being able to sell your artifacts and characters as NFT Tokens. All this requires players to know the cryptocurrency market and carry out transactions. Recently, in early March 2022, the GMT token was launched on major cryptocurrency exchanges and gave 139% to its holders within a month. The token is linked to the STEPN game, in which users earn money through real racing. But the process of purchasing in-game items and the game mechanics itself are quite complicated for users. BlaBlaGame believes that, as a result, simpler, “childish” games that anyone can discover will have their share of the market. After all, even children’s games can be exciting if you play for money. And cryptocurrency is the most desired and sought after asset in the face of fiat currency instability.
“The idea of our game is as simple as rock paper scissors. You cannot falsify game results, because it is on the blockchain and all interactions are recorded. The game is understandable for anyone of any age, it is intuitive and does not require any additional knowledge. There will be no NFT tokens in our game, just a battle between players. This is an opportunity to make money quickly, not just playing games, but also investing in tokens or inviting your friends,” say BlaBlaGame developers. “Part of the market will really be for very simple games, without changing characters or selling their items. Complex applications and games that require investment are not accessible to everyone. Our idea is to allow any novice player to earn money in a cryptocurrency game.”
$200 billion – by 2024
$350 billion – by 2026
$500 billion with the launch of META
Average token profitability – 11534% Source: BlaBlaGame.io
Top 5 gaming tokens by cap and their profitability, data
Capitalization Price, USD 24-hour trading volume, USD
ROI when buying at minimum price
Decentraland MANA $2.36 5.1 B 0.5 B 9000% The Sandbox SAND $3.53 3.5 B 0.7 B 36404% Axie Infinity AXS $58.10 3.5 B 0.68 B 9102% Theta Network THETA $3.51 3.4 B 0.3 B 2181% Stax STX US $ 1.31 1.7 B 0.03 B 985%
Average of the first 5
$13.76 3.44 B 0.442 B 11534% Source: BlaBlaGame.io/CoinMarketCap Telegram: https://t.me/BlaBlaGame_English Disclaimer: This article has informational functionality only, does not constitute investment advice or an offer to invest. CriptoFácil is not responsible for any content, products or services mentioned in this article. Read also: Invest your EOS in global markets and win a gift of US$ 150 Read also: 1xBit prepares 0.5 BTC prize for the Easter Bunny adventure tournament Read also: The profession that became a fever in the Philippines arrives in Brazil paying ‘ elite salary in dollar