GameFi is a trending blockchain-based development that combines the powers of gamification, cryptocurrencies, NFTs, and blockchain technology in general. The reason why many people are venturing into these games and leaving the traditional games is because of financial gains.
The interesting fact is that play-to-earn games like Axie Infinity became very popular in 2021 as a result of the Covid-19 pandemic which kept people “locked” indoors for much of their time due to the lockdowns imposed by national governments. As of now, with the mutations in Covid 19 virus, many people will remain locked down at home, meaning they will turn to these blockchain-based games to make money.
Now, the question which many people have is whether or not the GameFi sector will continue to grow. First, GameFi is likely to keep on growing considering the current interest the people have. And the truth is that people love playing games. This is our human nature. However, since there are additional financial incentives with GameFi then many more people will likely join in.
As we know, people can amass NFTs, in-game assets and cryptocurrencies, when participating in games, which they can trade at any time. This means that they can now monetize their gameplaying time and experience. Apart from the financial gains, many people are attracted to GameFi because of the merging which P2E games have with emerging technologies such as augmented reality, virtual reality, and extended reality. This creates an immersive experience that gamers enjoy.
Definitely, GameFi will grow in 2022 because of how people are attracted to it. Moreover, there are many GameFi projects which are promoting their products. They have created websites, social media communities, and physical presence in some places, thereby attracting many people to this gaming sector.
Here are additional reasons why many analysts contend that there will be exponential growth in the GameFi sector in Q1 2022:
- Some tech giants like Facebook have shown their intentions to participate in the metaverse and gaming sector.
- Traditional gaming platforms such as UniSoft are planning to integrate blockchain technology with their traditional models.
- There is much work going on in the gaming sector to provide scaling solutions that will result in the expansion of GameFi. As a result, many GameFi projects are being developed on other blockchain systems such as Fantom, Algorand, Wax, Solana, Polkadot, and Polygon.
- In addition, new functionalities are being added to the gaming sector. For instance, some gaming platforms have incorporated chatting and shopping features.
- More interestingly, there is a development of many new games which will increase the choice among the gamers.
We have asked 1223 Experty community members questions related to "GameFi predictions for 2022: what's next for Axie Infinity, Enjin etc.". We have received many valuable replies, the best ones (based on Experty community feedback) you can read below.
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BD & Partnership Head
How GameFi sector will look like in 2022?
The GameFi sector is just taking off. Cryptokitties was perhaps the Ver 1.0 for GameFi projects which successfully crashed the Ethereum network for a while back in 2018. Moving on a lot of GameFi projects are being built on other advanced blockchain platforms like Solana, Algorand, Fantom, etc along with Layer 2 like Matic, Cartesei, etc just to make the games playable. The GameFi sector can be broadly classified into the following - 1. Standalone Play2Earn games like Axie Infinity, MyNeighborAlice, Illuvium, UFO Gaming, Star Atlas, Alien Worlds, etc. 2. GameFi Aggregators like Ludena Protocol, Formless.me, etc. 3. GameFi Guilds & Guild aggregators which provides incentives to teach new players - Guildifi, AAG Ventures, etc. 4. Gamehouse - FLOW, WAX, ANIMOCA, etc.
Which GameFi project would you recommend to watch in Q1 of 2022?
The top 10 GameFi projects to look out for in Q1, 2022 - 1. Alien Worlds 2. UFO Gaming 3. MOBOX 4. Ludena Protocol 5. Formless.me 6. AAG Ventures 7. Guildifi 8. FLOW 9. Star Atlast 10. Bit.Country
Is GameFi a good investment? Why?
Yes GameFi projects which have nice games and not just P2E components are good investments, as ultimately they will merge in a single or multiple Metaverses over the long run. So for this reason I would think that in the coming years Star Atlas would do much better than Axie, moving forward. GameFi is a small part of a huge trend i.e Metaverse. Moving forward all these projects can be directly played from a single or multiple decentralized metaverse like SANDS, Decenteland, BLOK, etc. Along with these people can do normal things in virtual world that they do in real-world like chatting, interactions, shopping etc. This is where the future of GameFi looks in the upcoming years.
AQUARIUS HEAVEN OFFICIALCEO
How GameFi sector will look like in 2022?
As of today more people are involved in the Gamfi sector both players and developers It’s a new fun way to play and earn also the implications of NFT open a whole universe to possibilities My 2 preferred projects which I followed from start and happy to had spotted are GALA GAMES and UPLAND It’s just the start and there have been so many developments. By 2022 buying selling or trading NFTs will be a common language in the gamefi sector
Which GameFi project would you recommend to watch in Q1 of 2022?
GALA GAMES and UPLAND is definitely projects you should keep on the scope fun games with good possibilities of earning The platforms are easy to use and very diversified with multitasking games
Is GameFi a good investment? Why?
Big yes on that I can speak from my own experience I had no expectations and invested in theses projects and it’s still in beta but the returns are amazing See it as earning while having fun it don’t get better than this
Habibu AbdullahiDeveloper Associate
How GameFi sector will look like in 2022?
2021, it was like the beginning of GameFi innovation, this new idea of play-to-earn attracted a lot of new investors and players that leads to the sky-rocketing of project like Axie Infinity (AXS) token. To talk about 2022, I believe the GameFi sector, will continue to grow exponentially, due the fact that NFTs and a giant IT company like Facebook already started to invest heavily.
Which GameFi project would you recommend to watch in Q1 of 2022?
My top favourite project are Axie Infinity(AXS), Sand(SAND), Decentraland(MANA) and last but not the least Chiliz(CHZ). All of the above mention project/token has a successful growth in 2021 and I believe in the upcoming year they will continue to grow.
Is GameFi a good investment? Why?
Very difficult question to answer, firstly it depends on the project and its potentials, honestly speaking I do not like buying digital art because they are unique (i.e. NFTs), but this idea of Metaverse that is not limited to digital art I think is a good investment. That is why I have some part of my portifolio in those services (metaverse). In summary, it is a good long time investment.
A T
How GameFi sector will look like in 2022?
Gaming is a long lasting industry, interesting and cool games would still attract large pool of gamers hence GameFi sector is likely to continue to grow and may not be reaching the peak yet.
Which GameFi project would you recommend to watch in Q1 of 2022?
Have read somewhere about the Sin City, a Metaverse multiplayer game built on blockchain. After all this game is not something new and many people played before in the past, bringing this game onto blockchain might attract those existing pool of players that are currently or used to attract to this game.
Is GameFi a good investment? Why?
Any project regardless of sector could be good or bad investment, after all it depends on multiple factors of the team running the projects, such as creativity, marketing strategies, experience of the team, engagement with consumers.
stan vladdesigner
How GameFi sector will look like in 2022?
many games and nft based games are going to be dominant, Virtual worlds are spearheading the rise of emerging economies. The gamefi economy is growing because people are looking to take advantage of new and exciting business opportunities in the virtual world.
Which GameFi project would you recommend to watch in Q1 of 2022?
Upland the Mobile android game which has been around for one year is now the most popular Android nft based games, axie infinity and sandbox are the best bets for 2032
Is GameFi a good investment? Why?
gamefi ecosystems are based on NFT utilities and blockchain as it's backbone, when more games are available in VR and metaverse implementation on many current popular games NFTs will be the real perks of playing any games online
R FEngineer
How GameFi sector will look like in 2022?
GameFi sector has a bright future ahead because is one of the hottest topics in the crypto world right now. Axie Infinity demonstrated the enormous potencial GameFi has. It has been the first game to achieve $1 billion dollar in total token sales. The future for GameFi is starting to clear up thanks the blockchain scalability limitations are been solved with the appearance of new blockchain platforms, like Polygon, Solana, Wax, Polkadot, etc., without forgetting Ethereum improvements. Also, we can take into account mainstream game studios, like Unisoft, are focusing on GameFi, which is a big step for massive adoption. And if we consider the number of blockchain games currently under development on various platforms, the future is definitely bright, as I mentioned at the beginning.
Which GameFi project would you recommend to watch in Q1 of 2022?
I would recommend 'Farsite'. It's a DeFi-powered economic MMO RPG/RTS game with elements of adventure in a sci-fi setting based on a post-apocalyptic story to be released on Ethereum 2. Right now, it's on pre-alpha phase.
Is GameFi a good investment? Why?
GameFi is not only an investment. It's a way of getting fun with the opportunity to earn when playing. Apart of that, we can invest on it with very high expectations of great returns. Like bitcoin, a lot of GameFi games are based on NFT (Non Fungible Token), which is a new way of offering digital scarcity. And scarcity is the basics of a good investment. So, from my point of view, GameFi is a good investment, but not any game will be such a good investment. We need to take into account the idea, the team and the community behind it, as always.
Athanasios SarigiannidisAlgorithm creator, coder, chem. engineer,trader,investor
How GameFi sector will look like in 2022?
in the cusp of the market this immerging category of gaming cryptographic transaction/call through fast chains has great potential. even an extension of this bull market that seems everyone knows its beginning and end these days. so many times in tech universe it was gaming that showed the way and pushed forwards due to the needs sometimes and often due to its audience. I'm expecting new things , new protocols and old games reskinned but through blockchain and web 3.0
Which GameFi project would you recommend to watch in Q1 of 2022?
upland and illuvium and the new games that will derive from sandbox. from my personal experience connecting land and digital assets through a game mimicks perfectly one of the most valuable attributes of blockchain not yet fully utilized. that's ownership on blockchain. trust less or not so trust less sometimes cause not all blockchains are trustless these days.
Is GameFi a good investment? Why?
gaming was a huge industry and the upcoming years will become a necessity as people more and more are moving towards entertainment inside the home and towards Metaverse too. everything digital for this decade is the way, only for humanity to discover the real usage of this tech. mistakes and extremities have to happen as always happens with everything new, until human fully understands it and conquers it in the end.
Rick SpindlerInvestor
How GameFi sector will look like in 2022?
It's the natural progression of blockchain and gaming. Projects like ENJ have been working on integrating blockchain with traditional gaming for years. Note the developments in their scaling solution, which will eventually deploy on the Polkadot blockchain, Effinity (EFI). In 2022 you will see the first transferrable NFT assets between games which run on different blockchains. Eventually, the major gaming platforms will integrate blockchain and the machinegun that you buy in Call of Duty will be used in Vampire Death Hunter 21. You'll see the first of this new world happen in 2022. Traditional Gamefi will fight it; but it's inevitable and they will adapt or become irrelevant.
Which GameFi project would you recommend to watch in Q1 of 2022?
Enjin combined with Effinity are the major players but they work closely with many developers. Illuvium and Yieldy Games (YYG) are two important players in GameFi
Is GameFi a good investment? Why?
GameFi is a fantastic investment, if you can buy the underlying tech. This is why I suggest ENJIN. I don't want to buy a commodity, I want to buy the whole market! I don't want to buy Pork Bellies...I want to buy The Chicago Mercantile Exchange. CME! Buy ENJ and EFI.
Jason McLaughlinINVESTER
How GameFi sector will look like in 2022?
I believe GameFi sector in 2022 will be ten plus times bigger then it is now. We are at the beginning stage right now with many great companies building our Metaverse.
Which GameFi project would you recommend to watch in Q1 of 2022?
I would recommend watching and investing in Sandbox and Sand token. This company will be huge in the coming months and years. Many known people already on and owning land.
Is GameFi a good investment? Why?
GameFi is a great investment because it's still in its early early stages. And new companies are coming out and coming. There is so much that can be done in GameFi.
kennedy ukpacryptotrader
How GameFi sector will look like in 2022?
One of the best thing to happen to the crypto space and it will become a trillion dollars sector by next year and there will be more less of bitcoin dominance over it.
Which GameFi project would you recommend to watch in Q1 of 2022?
Nakamoto games(Naka) and vulcan forged PYR. Naka Is a gaming platform offering fun and addictive crypto . It's main aim is to attract gamers and game developers. Vulcan forged PYR combines games studio, Nfts engine and marketplace.And both of them still have relative low marketcap.
Is GameFi a good investment? Why?
Yes Wayback we all play online games without earning but for the pleasure we derive from it, so you can imagine gaming and you're earning and considering the numbers of people that earning program will entice more you can see this is a very large sector that will explode sooner than we expected.
Summary
Many analysts have come up with some probable games that will dominate in Q1 of 2022. The major gaming platforms which they believe will perform best in Q1, 2021 are Axie Infinity, Sandbox, Decentraland, Star Atlas, Illuvium, and Upland. By comparison Axie Infinity, Sandbox, and Upland top the list.
Nevertheless, the other games which other analysts identified include Chiliz, Vulcan Forged PYR, Enjin, Alien Worlds, UFO Gaming, Gods Unchained, Farsite, and Splinterlands.
For now, we focus on one of the most talked-about games, Axie Infinity, and its potential in 2022 and beyond. Considering the short time we have before 2022, Axie Infinity is likely to remain the top GameFi project in quarter one of 2022. The main reason is that it will maintain the first-mover advantage, and the network effect will attract more people to it.
As we note, Axie Infinity is like bitcoin which maintains the first spot due to its historical development and being the leader for a long time. Usually, investors in the blockchain sector search for already well-established projects rather than seeking new projects.
Already, Axie Infinity cryptocurrency AXS exists on many crypto exchanges and wallets. Its value has been increasing over the years, making it one of the best tokens existing in the GameFi sector.
Secondly, Axie Infinity is already popular and many people join it by day. Many Axie Infinity players are coming from developing countries as they aim to earn a living from it. We anticipate that many people from these countries will continue to join.
Looking at the figure at hand, Axie Infinity has crossed over 400 000 members and shows no signs of slowing down.
Can you invest in GameFi?
There is no question that the GameFi sector is a lucrative investment area. We have recently witnessed the prices of some tokens of GameFi projects such as SAND and MANA rising by over 3 000% within three months. This implies that there is a high return on investment.
Second, there are new products in this sector. For instance, some of these gaming platforms allow people to stake their tokens and earn interest.
Here are the other reasons which analysts have identified as the main reason why people should consider investing in GameFi:
- NFTs are scarce or rare, so they are good investment assets. The more scarce a digital asset is the higher the rate of return on investment.
- There is a huge demand for the gaming experience, meaning that if people invest in platforms they are likely to get good returns on investment.
- Also, it is worth investing in GameFi because the gaming sector is now a large contributor to the digital economy.
- Above this, the integration of gamification and the metaverse has raised much interest in the sector. As a result, investors in this sector are likely to get huge returns on investment.
There is no question that there is increasing demand for gaming experience among millennials. However, the exact project to invest in depends on other factors such as creativity involved, marketing strategies, and user engagement.
This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.
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