How will GameFi and P2E blockchain gaming develop in 2022?  Report

How will GameFi and P2E blockchain gaming develop in 2022? Report – Mail Bonus

Encryption gaming has grown in popularity as more players collect and trade digital assets, generating reliable revenue for game makers and creating value for players. In a recently published report, Cointelegraph Research shows how the Axie Infinity game in the Philippines was able to earn its regular monthly salary in 2020 simply by playing the game, at the same time as measures to prevent the spread of the COVID-19 pandemic caused economic hardship to the country.

Axie Infinity is a powerhouse for games to earn (P2E) blockchain gaming, not unlike the position of Bitcoin (BTC) as a powerhouse of cryptocurrencies. Like Bitcoin, it has the eyes of the public, is a target of competitors and is no stranger to controversy, as the Ethereum side chain developed for the game was recently hacked for 173,600 Ether (ETH) and 25.5 million USD Coin (USDC), worth more than $ 612 million at the time.

When bears take over the cryptocurrency market and the floor price of inflexible tokens (NFT) falls, play finance, or GameFi, shows signs of resilience and maturity despite negative market attitudes overall.

Game is important for future growth

Cointelegraph Research rates five of P2E’s most popular games – Axie Infinity, Splinterlands, Bomb Crypto, Alien Worlds and DeFi Kingdoms – in a 30-page report released in May entitled “GameFi: Can blockchain-based gaming redefine the industry?” The play in each game will not blow away experienced game players. They are a completely different experience than, for example, Call of Duty.

Download the full report here, along with charts and infographics

But players can still have a very enjoyable experience playing blockchain games, as can be clearly seen by the number of users. GameFi development is still in its infancy and games will evolve to become visually appealing and more powerful in the future. Like all downturns, the current bear market can be a means of innovation and development.

GameFi is poised to take advantage of this, and recent events show confidence in the future of blockchain gaming, with Immutable X raising $ 200 million for game development in a recent fundraising round. Nevertheless, blockchain game makers will continue to face the challenge of adding new users. Despite the explosiveness of the Axie Infinity 2021, the current year paints a much more modest picture, with the steady decline in monthly new bills added.

The five titles rated in the GameFi report do a great job of making cryptocurrencies and NFT investments fun, and the Cointelegraph Research report examines their entry costs, gameplay, general strategic difficulties, and in-game mechanics to determine the gameplay rating for each title.

Since Axie Infinity is almost entirely dependent on new players putting new money into the game, the declining growth of new players could bring the entire project’s economy into recession. Continuing to focus on game development will help the GameFi industry reach a larger audience.

High-quality games that feature a blockchain-driven economy

There are examples of successful non-blockchain gaming economies, but few have achieved the growth and scope of Axie Infinity and Splinterlands. Before GameFi came into being, virtual games in the game were often seen as inherently worthless, apart from the short popularity among users. GameFi distinguishes itself from non-blockchain games with key features: ownership.

Blockchains and their underlying technology enable game developers to offer users a secure way to prove ownership and trade with each other. Blockchain technology also allows freedom of pricing and exchange, including game content and currency.