GameFi, coined from “game” and “finance,” has enabled blockchain-based gaming activities that offer players economic or financial rewards by completing game-related tasks. Under the play-to-earn (P2E) model, gamers can collect in-game assets that can then be traded on secondary markets. The in-game assets include reward and governance tokens, Non-Fungible Tokens (NFTs), virtual land, and avatars, to name but a few.
GameFi is a fast-growing sector in the crypto space. The NFT boom of 2021 also fueled the growth of the GameFi market. According to TripleA data, the crypto gaming industry in 2020 was reported to have an estimated 320 million crypto owners and generated revenue of US$321 million. Almost 42 million people were reported to own crypto, of whom 38% were millennials aged between 21 and 36.
55% of the millennial gamers owned crypto compared to 5% of all Millenials. Of the gamers who owned crypto, 80% were interested in making game purchases using crypto, while 67% hoped for...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...