Gaming tokens like SAND are buzzing, but could the Metaverse be an improvement over GameFi?

After Axie Infinity unveiled its 'Play to Get' (P2E) prototype this summer, GameFi has become one of the hottest hotspots in the cryptocurrency industry this year. In recent months, new gameplay of various on-chain games has appeared, attracting a lot of money and users in this field, and some early games have achieved market share through popular content.

From the perspective of all market sizes, Meta Universe and Play-to-Earn are already two of the hottest topics right now. The Ou Yi store recently saw a lot of Meta Universe and P2E game projects like SAND, GALA, WNCG, ILV, etc. and the gaming platform chips soar. However, on the other hand, with the recent increase in popularity and sales of Axie, P2E could become the market leader, and what is the continuous improvement? Will the massive fire of meta-edge content be the future direction of GameFi?

GameFi and Metaverse have become popular

According to a Google search in the context of celebrity marketing, global search for 'blockchain game' has increased by 733% since the start of this year, and popularity of 'gamepie' search has increased by 2,400% since the end of July of this year. . years, and recently hit the highest volume. Among them, research in China, the Philippines, Pakistan and other countries has passed.

Source : Google Trends

Blockchain meta-globalization and game monetization are the two most popular topics in Asia, according to a new Dappradar report, with 1.7 million citations in Asian media, up 33% from the previous month . In addition, immobilizer and emergency vehicles also recognize the growing interest of P2E games in the market. Data shows venture capitalists have increased in blockchain games, with nearly $ 3 billion invested in Dapper Labs, Animoca Brands and other well-known games, virtual worlds and more. The games company received $ 607 million and $ 221 million, respectively.

The product of the famous sports company Source: Dappradar

In terms of user engagement, according to data from DappRadar, in October of this year the number of active gaming-related wallets accounted for 55% of total blockchain activity, and gaming-related vehicles in November increased. by 14% compared to October. . It is expected to increase by 63% by the end of November. The management of P2E sports cars is also developing. According to data from Dappradar, since July of this year, the number of users of sports games has been steadily increasing, and the number of users has reached 1,318,000, growing as a commodity, which has increased by 262% from the start. . of July of this year. As of November 25, the total on-chain gaming market volume was $ 142 million.

The marketing of these toys has been carried out with the interest of many parties. Coiningecko data shows more in-game tokens increased in the past week. (The Sandbox) is up 64.3% in the last 7 days, ILV (Illuvium) is up 68.6% in the last 7 days and Gods Unchained (GODS) is up 51.2 %.

Besides GameFi, Metaverse is also one of the most popular apps right now. After Facebook changed its name to 'Meta' at the end of October and announced meta-global activity on a larger scale, the meta-world became a hot topic in not only the encryption industry but also global technology. . According to the report, the global metaverse index rose sharply in November of this year. Meta Universe Concept Fire is also strengthening its integration with blockchain games and helping to further grow the games market.

Could the metaverse be the development of the sports channel?

Axiinfinity, this summer's venture capitalist, dreams of becoming “the king of competitive sports” and creating traffic and profitability, thus strengthening the reputation of the entire game marketing chain. of several popular blockchain games have plummeted in the past two months, Axi Infinity is a prime example, and according to blockchain research firm Navic, the daily income of Asian civilian gamers has fallen below the 2018 minimum wage. Philippines ..

According to token terminal data, Axi Infinity's sales declined from September to November of this year, and as many games have appeared, Axiom's own gold earnings are low, resulting in a decrease. Axi Infinity content and preferences. . . . Regarding the aftermarket, changes in the packaging industry indicate that Axie Infinity is no longer as strong as it used to be, leading to a more in-depth discussion of “Gamefi's future technical development”.

For P2E games, the key is not only the quality of the game, but also the innovation and stability of the business model. So, if the profits of P2E games are not stable, the users are lost. Of course, this does not mean that the whole on-chain game market has seen a decline, but the on-chain game market still has a lot of room for improvement.

In terms of the overall market, blockchain games have maintained strong momentum in recent months. According to Grayscale's latest Metaverse report, total blockchain game funding in the quarter was $ 1 billion, or 12% of the entire cryptocurrency market quarter. Additionally, according to data from Token Terminal, DApps generated by DApps generated more than $ 800 million in revenue in the third quarter of this year.

However, it seems that a new model has appeared in the real estate market, in the context of the metaverse. game world). , on the other hand, more and more contracts are being designed to combine the concept and gameplay of the meta-universe.

For games in the virtual world, the best known are Sandbox and Decentraland. Since Facebook's name was changed to the Meta Universe ("Meta"), the recent price of Sandbox and Decentraland has skyrocketed, as has the value of virtual reality in-game. The Ou Yi action shows that the Sandbox controlled sand token price increased 759% last month and Decentraland MANA token increased 452% last month.

The power of the Metaverse has also been extended to the NFT realm. According to a report by Dappradar, sales of virtual world games close to global meta-content were 12,550 in November, generating more than $ 78.2 million in revenue so far. end of October. Total gaming NFTs revenue in November topped $ 675 million, and virtual world NFTs accounted for 8% of total NFTs market value, up 166% from September. For example, well-known blockchain games such as Mythical Games, Cometh, and Illuvium are developing NFTs with the idea of ​​uniting the virtual world.

So, will the Metaverse be a further improvement to the game chain?

Global Meta is a digital virtual social ecosystem that consists of three components: business users, hardware and network infrastructure, and blockchain technology. The overall meta-objective is to enable everyone to participate in the realm of the digital world and to benefit from virtual reality. Currently, the goal of the blockchain game is to store user data in a single distribution across the entire blockchain, leveraging blockchain technology and the development of NFT, both of which can be integrated and integrated into the blockchain. Now, more and more existing in reality, the blockchain virtual world game is based on the game chain, combining abstract elements of the meta-world, leading to social and more creative content and creating a better financial environment.

In essence, the game combined with the concept of "meta-universe" exhibits many important features, such as virtual avatar, functional and social interaction, and deserves more attention. Therefore, more than that, the global meta-world is a continuous improvement for competitive games, the first form of meta-world often provides blockchain games as content so that game developers and game players can have a better relationship with the surrounding price. , centralization and spatial thinking. In short, it can be predicted that the relationship between global meta and chains will be stronger in the future, and the two will support the expansion of NFT fields together.