gamefi

Gamefi Enjoys Good Run, Metacade a Top Platform: 2023 Report 

Leave a Comment

In a recent report by DappRadar, the numbers for Gamefi look good. Among Web3 companies, Metacade is one of the best when it comes to on-chain games.

In early 2023, on-chain gaming activity bounced back from a difficult 2022, as reported by DappRadar\’s latest Games Report. Gala Games (GALA/USD), Axie Infinity (AXS/USD), Decentraland (MANA/USD), Floki Inu (FLOKI/USD), and many other established players in the game-fi industry have been driving the momentum.

A notable industry analysis report says that DapprRadar shows that Floki has taken the lead with a huge 380% increase, followed by Wemix with a 322% increase. This shows that the game-fic world is growing in a positive way. With this much potential, there is plenty of room for many players to get a big share of the market. Investors should think about putting together a portfolio that includes both well-known companies and new companies like Metacade, which are trying to bring something new to the industry.

Gamefi Shows Promising Numbers in DappRadar\’s Report

DappRadar says that on-chain data shows that gaming activity went up by 1.31 percent in January, with 858,621 daily Unique Active Wallets (dUAW) making up nearly half of all dapp activity. But these numbers are still small compared to the gaming industry as a whole, which has 2.69 billion customers around the world. People think that the gaming industry will make about $170 billion in 2022, which is five times more than what movies make at the box office. Some estimates say that by 2030, the gaming industry around the world could be worth $470 billion.

The question that arises is what role the cryptocurrency and blockchain industry will play in shaping the gaming industry\’s growth trajectory until the end of the decade. The Web3 gamefi industry has demonstrated its competitive edge against traditional video games and Defi as evident in DappRadar\’s several reports. Progress, new ideas, and investments in blockchain technology and cryptocurrencies back up this claim. The fact that Gala Games bought Ember Entertainment is a big deal that happened just in 2023. Also, Ember\’s games were added to Gala\’s layer 1 blockchain, Square Enix\’s NFT game was released, and part of Courtside Ventures\’ $100 million fund was set aside for gaming. Lastly, Metacade was able to raise about $9.3 million in five rounds of pre-sales.

Metacade Gamefi Platform

Metacade is different from other gaming companies because it offers a wide range of games to suit everyone\’s tastes. As a game-fic project, it lets people play games that let them earn money. It also has plans to become a full-fledged DAO by the year 2024. This will let the community use the MCADE token to take part in running the project. Players will also be able to earn tokens by completing tasks, taking part in player-versus-player sessions, writing reviews, and attending events.

The success of Metacade\’s presale rounds highlights the increasing enthusiasm among investors for new projects.In the sixth round of pre-sales, the MCADE token costs $0.017. It\’s a big jump from the $0.008 it was worth in the beta round. Investors who want to take part in the next round of Metacade should move quickly. As the presale process nears its end, the price is likely to go up even more. The coin will also be listed on major cryptocurrency exchanges like Bitmart and Uniswap. So, it is usually a sign that the coin could go up in value in gamefi and web3.

Metacade Achieves Balance between Gamers and Investors

Finding a balance between the needs of users and the needs of investors is hard because their needs are often at odds with each other. What is good for investors might not be good for users, and vice versa.

But Russell Bennet, who is the CEO of Metacade, seems to have found a way to meet the needs of both sides. During an interview with Dan Ashmore for the Invezz podcast, Bennet admitted that he had made mistakes in the past. Like putting out bad games quickly to keep up with the fast growth of the crypto industry as a whole.

Bennet is now running the business as a \”community-driven platform\” for the next two to three years. He wants to meet the needs of both users and investors.

Bennet said that the success of the MCADE token depends on having strong plans for how to make money. He said that Metacade is putting the token\’s usefulness first to make sure it will last in the gamefi world. It makes it stand out from other game-fic projects that had trouble getting to market because they didn\’t realize that revenue is a key part of balancing token economics.

\"Gamefi
Gamefi is showing promising stats in a recent report by DappRadar, among the Web3 companies, Metacade is one of the top ones in on-chain game

When investing in the crypto industry, investors need to be picky, have patience, and think long-term. It is important because the crypto industry has been going through a lot of changes in the past few years. To do this, you need to pick a part of the crypto world that has been moving forward recently. Also, people need to do their research to make sure that these trends will last.

Web3 Gamefi Future

The game-fi sector exhibits strong potential for growth in the years to come. Even if it grows at the same rate as the traditional gaming business, investors can still make money. But investors must do their homework and look at the potential of both well-known companies and new ones, like Metacade in Web3. Metacade is popular among gamers, and it also has a bonus. Based on the background and experience of the CEO, it seems likely that investors will get a good return on their money.

Play to Earn Gaming News

Looking for the best play-to-earn (P2E) games? Look no further than our video game review site. Our extensive collection of P2E games is expertly curated, providing you with all the necessary information. Including game genre, platform, tokens, whitepapers, and social media links. Our site also offers game trailers and in-depth reviews, making sure you\’re up-to-date on the latest gaming trends. We pride ourselves on providing daily news updates so that you stay informed about the latest Play-to-Earn, P2E, blockchain, NFTs, crypto, Web3, and metaverse games.

Explore our Top Games and game lists to discover the best P2E games, game developers and read our fresh daily video game news to stay informed about the latest developments in the world of gaming. Contact us for any PlayToEarn Game News or send us your PR if you\’re launching a game, and our PlayToEarn Game news writers will cover it. Join us now to explore and discover the best Play-To-Earn (P2E) games out there with our video game review site.

Gamefi Industry 2023 Trends

Leave a Comment

Last year we saw the Gamefi industry taking severe hits and entering a pretty rough patch. Its flagship and super popular games like Axie Infinity and Crypto Blades were floored badly. Their NFTs values went down the drain and came back all the way to floor prices. We also saw big Web2 gaming companies trying to dip their toes in the Web3 waters but had to deal with massive fan backlash. Nonetheless, the Gamefi ecosystem is moving forward making strides despite the crypto winter. However, the important thing evident is that blockchain game developers have learned from their mistakes. Companies are now abandoning the speculative elements and working hard to make games more fun to play. Nonetheless, the gamefi industry has still managed to capture investors’ attention. 

Teknos Associates has identified lucrative opportunities in the blockchain gaming market and predicts an exciting time for the GameFi market in the next 18-24 months. They shared insights into opportunities and trends to watch for in the coming year.

Web3 Indie Games will Follow Specific Trends

Web3 game studios will create games that match popular genres in the Web2 world, with a focus on immersive gameplay. Top genres like Soulslike and MMO games are expected to make their mark on the Web3 gaming scene this year.

We might see a trend following Soulslike games. A \”Soulslike\” is an action RPG subgenre that draws inspiration from the Demon Souls game and its successor, the Dark Souls series, both developed by FromSoftware. This type of game is popular for its tough difficulty, combat system based on skills, and environmental storytelling, often in a dark fantasy world.

Soulslike games, such as Elden Ring, are popular with gamers due to their high level of difficulty, skill-based combat systems, and dark fantasy setting. The new Star Wars Jedi: Survivor and The Lords of The Fallen also feature Soulslike gameplay. After its release in February 2022, Elden Ring reached a peak of nearly one million concurrent players. Moreover, it sold over 17.5 million copies, making it the top-selling Soulslike title. So, we may see developers hopping onto the bandwagon and developing games like it.

MMO Games Trend

The \”last-man-standing\” genre of massively multiplayer online (MMO) games, as seen in Fortnite, continues to lead popularity charts. It has an estimated 2 million to 4 million daily players, so a lot of gamers prefer it. But what about promising MMO games in Web3?

Web3 gaming studios are making significant progress in the MMO space, with Illuvium as a promising example. Self-styled as an \”Interoperable Blockchain Game,\” Illuvium has a multifaceted approach to gameplay, including an auto battler component. Its immersive world and the battle arena will push the boundaries of the genre, and the $72 million raise from selling virtual land highlights public interest ahead of a full release in 2023.

Blockchain gaming is advancing with the emergence of MMO games such as Dark Forest. This space-conquest game implements fully on-chain gameplay and cutting-edge technologies. It uses zero-knowledge proofs (ZKPs), setting the standard for the blockchain gaming industry.

Need for a True Metaverse and Social Layering

The GameFi industry requires a strong metaverse and social layer for its communities. Ubisoft\’s lackluster NFT integration highlighted the necessity of such systems. Ubisoft\’s in-game assets were primarily valued for their secondary NFT sales, which is typical of most GameFi 1.0 projects.

The upcoming Web3 games will benefit from incorporating social layers and immersive environments to provide in-game NFTs with more value beyond the marketplace. Decentraland and Sandbox, as first-generation metaverse games, have already established strong secondary economies through their social and immersive features. Recent data shows that user growth in Decentraland is less tied to price. It suggests that users are increasingly attracted to the inherent value of gameplay and open-source development.

GameFi\’s missing piece is the introduction of innovative independent games that can compete with mainstream AAA titles and appeal to a broader audience. This milestone will occur in the upcoming year, with many of the major blockchain games, such as Big Time and Guild of Guardians, currently in the final stages of development.

Play to Earn Games News

Welcome to PlayToEarnGames.com! Your ultimate destination for all things gaming. Here you will find game reviews, daily news updates, and an extensive list of the latest games. Our goal is to keep you informed and entertained. If you have a game or exciting news that you would like to share, we encourage you to reach out to us. Stay tuned for daily updates and be sure to check back often for new additions to our growing list of games. Let\’s play and earn together!

Gamefi and Blockchain Games Surpass Defi in Unique Active Wallets and Continue to Lead in 2023

Leave a Comment

It is true that the blockchain and the crypto industry as a whole suffered a lot in 2022. When compared year on year, the figures dropped dramatically. But Gamefi is one part of blockchain technology that continues to get investment, traction, and a big jump in the number of unique wallets that are active. The upward trajectory for the blockchain gaming sector was witnessed in Q4 of 2022. Also, it stays the same in the first month of 2023, but the question is whether or not the hype and traction keep going in this direction. On the other hand, we think that Defi applications and projects will take a big hit and keep getting worse until 2023.

By the beginning of 2023, the blockchain gaming industry will have more than twice as many unique active wallets as Defi. 

Blockchain Games Leading the Way

Blockchain gaming is a new area where people get paid for the time they spend playing video games. The rewards have a value in the real world and can\’t be used, so they can be traded for money. So, the main difference between traditional gaming and blockchain gaming lies in the model of business. In developing countries, particularly in Southeast Asia, the blockchain gaming industry has grown rapidly. It is the business model of \”play to earn\” or \”play and own\” that stands out. This is a big part of why these games still do well even though the Defi industry is still having trouble.

Also, some of the best minds and developers in the industry continue to work together to make AAA blockchain games. The introduction of AAA games, along with strong collaborations between artists, influential figures, and game developers, will result in mass adoption. There is a lot of activity going on in blockchain gaming when we look at the number of unique active wallets. However, Defi failed to bounce back after some of the unfortunate incidents that happened last year.

Defi Domain Struggles to Bounce Back

The year 2022 was filled with ups and downs. The war in Ukraine, the Terra Luna Crash, the Ethereum Merge, and then the FTX Crash were all big events that had a big impact on the crypto and blockchain industries. There were many Defi apps that had to head toward the exit. The blockchain gaming industry, on the other hand, aided decentralized apps in gaining some positives. 

\"Gamefi
DappRadar

If we analyze the events of 2022, the decentralized space saw a gradual decline. The Terra Luna event impacted the space heavily, and the rest was done by the FTX collapse. The total value locked in Defi dropped dramatically. At the start of 2022, the TVL was almost $150 billion, which took a nosedive after the events and stood at almost $40 billion. The Terra Luna Crash saw Defi, as well as UAWs, decrease considerably. But UAWs improved at the end of the year, while Defi continued to suffer.

As early as January 2022, careful speculation was made by DappRadar’s executive about Defi apps. The executive told BeInCrypto that as many as 80% of Defi apps could exit the industry if the bear trend continues throughout the year, which it did.

Blockchain Games and Rising UAWs

Blockchain games sure did see a bit of a decline after the Terra Luna crash, but they didn’t deviate much from their trend. It still accounts for an average of 1.15 million daily UAW, showing a lot of activity in the blockchain gaming space.

Dapp Radar’s Pedro Herrera said, \”While [decentralized finance] and overall blockchain activity have been on the downside, the game of Unique Active Wallets (UAW) continues to rise, reaching almost 1 million daily wallets.\”

\"Gamefi
Delphi Digital

When we compare the number of unique active wallets between Gamefi and Defi, gaming has more than twice as many as Defi. At the end of 2022, Defi had approximately 2.0 million UAWs, while Gaming had 5.0 million. Some of the top blockchain games that attracted new wallets in 2022 are: Splinterlands, which topped the chart with over 300,000 UAW over a week; Alien Worlds; Benji Bananas; Farmers World; Planet IX; Upland; and more.

If you want to read the key points of DappRadar, here we go:

Key takeaways DappRadar

  • The dapp (decentralized application) industry experienced a 50% increase in unique active wallets (dUAW) in 2022, rising from an average of 1.58 million daily dUAW in 2021 to 2.37 million in 2022 on average. However, the industry has been on a downward trend due to various events, including the war in Ukraine, the collapse of Terra Luna and the FTX situation. Despite these challenges, the dapp industry has demonstrated its resilience and maturity, while adoption of blockchain technology by consumers and businesses suggests that the future of the industry is bright.
  • In 2022, the DeFi industry faced challenges including the collapse of the Terra Luna platform and a decline in cryptocurrency prices, leading to a significant drop in the Total Value Locked (TVL) of 73.97% falling to $55 billion in December. Amidst these difficulties, the DeFi sector continued to expand and innovate, with smart contract financial apps and traditional financial institutions piloting or transacting using DeFi protocols.
  • Ethereum remains the dominant DeFi protocol with $32.12 billion in TVL, a 74.56% reduction. BNB Chain has reclaimed its position as the second-largest DeFi ecosystem, with a 62.50% decrease, reaching $6.5 billion. Layer-2 solutions appeared to be the least affected by the crypto turbulence, with Arbitrum falling 12.07% to $1.74 billion. Optimism’s TVL increased by 127.60%, hitting $669 million.
  • On-chain metrics for the NFT market this year seemed to be positive, as the NFT trading volume in 2022 increased by just 0.41% in comparison with 2021, with an average ETH price of $2,015. Looking further, the number of unique traders count increased by 876.89% compared to the previous year, reaching 10.6 million. The sales count is on the same upward trend, with an overall of 10.16% increase this year, reaching 68.35 million.
  • The NFT blue-chip collections have remained the most traded collections this year, and continue focusing on their roadmap. Azuki became the first NFT brand to appear on an F1 racing car. VeeFriends closed a $50 million seed round in July, while PROOF’s Moonbirds raised another $50 million in August to scale the brand further.
  • Yuga Labs continued to expand, acquiring CryptoPunks, Meebits and the NFT startup WENEW Labs. Its NFT collections dominated the NFT market cap in Q4, representing 55% of the top 100 most valuable NFT collections, which amount to $15 billion.
  • This year saw the entry of new participants into the NFT marketplaces industry. X2Y2 climbed the charts, becoming in a year one of the top 10 NFT marketplace by trading volume, making more than $1.5 billion in trading volume. On the same trend, Blur, which was launched in October, reached in two months the last place in the top 10 NFT Marketplaces by trading volume, in 2022, with more than $205 million in trading volume. However, Opensea has not lost its dominance and, even if sales volumes have dropped in the past month, still accounted for 73.1% of the whole NFT organic trading volume. 
  • Blockchain games in 2022 account for 49% of all dapp activity, with on average 1.15 million daily unique active wallets, and 7.4 billion in transactions count. Splinterlands remains the most popular game with 217,914 monthly unique active wallets in 2022, an 85.78% growth. Alien Worlds was second with 178,118 monthly unique active wallets, down 3.67%. 
  • In 2022, there were 312 crypto attacks, resulting in losses of $48.74 billion, the highest for any year. The Terra Luna scandal was the most significant of these attacks, causing losses of $40 billion. Excluding this event, the median loss per hack was $283k and total losses per month were $728 million. Centralized platforms were the most commonly targeted, with losses totaling $44.71 billion. The BNB and ETH chains were the most hacked, with rug pulls being the most common type of attack.
  • In 2022, there were significant developments in the regulatory landscape for cryptocurrencies and other digital assets, with the introduction of the first White House bill for crypto regulations and the MiCA regulation in Europe. These rules and laws aimed to establish a comprehensive framework for the regulation of cryptocurrencies and other digital assets, and demonstrated a recognition of the growing importance of blockchain technology. 

However, the question remains if this trend will continue this year for blockchain games. With the number of AAA games under development and some launching this year, the trend may as well continue to ride the bull. Keep visiting us for more on blockchain gaming news, and check out game reviews on our YouTube. One of the most promising MMORPG AAA blockchain games under works is Mirandus.

Gamefi, Blockchain Games Surpass Defi

Leave a Comment

It is true that the blockchain and the crypto industry as a whole suffered a lot in 2022. When compared year on year, the figures dropped dramatically. But Gamefi is one part of blockchain technology that continues to get investment, traction, and a big jump in the number of unique wallets that are active. The upward trajectory for the blockchain gaming sector was witnessed in Q4 of 2022. Also, it stays the same in the first month of 2023, but the question is whether or not the hype and traction keep going in this direction. On the other hand, we think that Defi applications and projects will take a big hit and keep getting worse until 2023.

By the beginning of 2023, the blockchain gaming industry will have more than twice as many unique active wallets as Defi. 

Blockchain Games Leading the Way

Blockchain gaming is a new area where people get paid for the time they spend playing video games. The rewards have a value in the real world and can\’t be used, so they can be traded for money. So, the main difference between traditional gaming and blockchain gaming lies in the model of business. In developing countries, particularly in Southeast Asia, the blockchain gaming industry has grown rapidly. It is the business model of \”play to earn\” or \”play and own\” that stands out. This is a big part of why these games still do well even though the Defi industry is still having trouble.

Also, some of the best minds and developers in the industry continue to work together to make AAA blockchain games. The introduction of AAA games, along with strong collaborations between artists, influential figures, and game developers, will result in mass adoption. There is a lot of activity going on in blockchain gaming when we look at the number of unique active wallets. However, Defi failed to bounce back after some of the unfortunate incidents that happened last year.

Defi Domain Struggles to Bounce Back

The year 2022 was filled with ups and downs. The war in Ukraine, the Terra Luna Crash, the Ethereum Merge, and then the FTX Crash were all big events that had a big impact on the crypto and blockchain industries. There were many Defi apps that had to head toward the exit. The blockchain gaming industry, on the other hand, aided decentralized apps in gaining some positives. 

\"Gamefi
DappRadar

If we analyze the events of 2022, the decentralized space saw a gradual decline. The Terra Luna event impacted the space heavily, and the rest was done by the FTX collapse. The total value locked in Defi dropped dramatically. At the start of 2022, the TVL was almost $150 billion, which took a nosedive after the events and stood at almost $40 billion. The Terra Luna Crash saw Defi, as well as UAWs, decrease considerably. But UAWs improved at the end of the year, while Defi continued to suffer.

As early as January 2022, careful speculation was made by DappRadar’s executive about Defi apps. The executive told BeInCrypto that as many as 80% of Defi apps could exit the industry if the bear trend continues throughout the year, which it did.

Blockchain Games and Rising UAWs

Blockchain games sure did see a bit of a decline after the Terra Luna crash, but they didn’t deviate much from their trend. It still accounts for an average of 1.15 million daily UAW, showing a lot of activity in the blockchain gaming space.

Dapp Radar’s Pedro Herrera said, \”While [decentralized finance] and overall blockchain activity have been on the downside, the game of Unique Active Wallets (UAW) continues to rise, reaching almost 1 million daily wallets.\”

\"Gamefi
Delphi Digital

When we compare the number of unique active wallets between Gamefi and Defi, gaming has more than twice as many as Defi. At the end of 2022, Defi had approximately 2.0 million UAWs, while Gaming had 5.0 million. Some of the top blockchain games that attracted new wallets in 2022 are: Splinterlands, which topped the chart with over 300,000 UAW over a week; Alien Worlds; Benji Bananas; Farmers World; Planet IX; Upland; and more.

If you want to read the key points of DappRadar, here we go:

Key takeaways DappRadar

  • The dapp (decentralized application) industry experienced a 50% increase in unique active wallets (dUAW) in 2022, rising from an average of 1.58 million daily dUAW in 2021 to 2.37 million in 2022 on average. However, the industry has been on a downward trend due to various events, including the war in Ukraine, the collapse of Terra Luna and the FTX situation. Despite these challenges, the dapp industry has demonstrated its resilience and maturity, while adoption of blockchain technology by consumers and businesses suggests that the future of the industry is bright.
  • In 2022, the DeFi industry faced challenges including the collapse of the Terra Luna platform and a decline in cryptocurrency prices, leading to a significant drop in the Total Value Locked (TVL) of 73.97% falling to $55 billion in December. Amidst these difficulties, the DeFi sector continued to expand and innovate, with smart contract financial apps and traditional financial institutions piloting or transacting using DeFi protocols.
  • Ethereum remains the dominant DeFi protocol with $32.12 billion in TVL, a 74.56% reduction. BNB Chain has reclaimed its position as the second-largest DeFi ecosystem, with a 62.50% decrease, reaching $6.5 billion. Layer-2 solutions appeared to be the least affected by the crypto turbulence, with Arbitrum falling 12.07% to $1.74 billion. Optimism’s TVL increased by 127.60%, hitting $669 million.
  • On-chain metrics for the NFT market this year seemed to be positive, as the NFT trading volume in 2022 increased by just 0.41% in comparison with 2021, with an average ETH price of $2,015. Looking further, the number of unique traders count increased by 876.89% compared to the previous year, reaching 10.6 million. The sales count is on the same upward trend, with an overall of 10.16% increase this year, reaching 68.35 million.
  • The NFT blue-chip collections have remained the most traded collections this year, and continue focusing on their roadmap. Azuki became the first NFT brand to appear on an F1 racing car. VeeFriends closed a $50 million seed round in July, while PROOF’s Moonbirds raised another $50 million in August to scale the brand further.
  • Yuga Labs continued to expand, acquiring CryptoPunks, Meebits and the NFT startup WENEW Labs. Its NFT collections dominated the NFT market cap in Q4, representing 55% of the top 100 most valuable NFT collections, which amount to $15 billion.
  • This year saw the entry of new participants into the NFT marketplaces industry. X2Y2 climbed the charts, becoming in a year one of the top 10 NFT marketplace by trading volume, making more than $1.5 billion in trading volume. On the same trend, Blur, which was launched in October, reached in two months the last place in the top 10 NFT Marketplaces by trading volume, in 2022, with more than $205 million in trading volume. However, Opensea has not lost its dominance and, even if sales volumes have dropped in the past month, still accounted for 73.1% of the whole NFT organic trading volume. 
  • Blockchain games in 2022 account for 49% of all dapp activity, with on average 1.15 million daily unique active wallets, and 7.4 billion in transactions count. Splinterlands remains the most popular game with 217,914 monthly unique active wallets in 2022, an 85.78% growth. Alien Worlds was second with 178,118 monthly unique active wallets, down 3.67%. 
  • In 2022, there were 312 crypto attacks, resulting in losses of $48.74 billion, the highest for any year. The Terra Luna scandal was the most significant of these attacks, causing losses of $40 billion. Excluding this event, the median loss per hack was $283k and total losses per month were $728 million. Centralized platforms were the most commonly targeted, with losses totaling $44.71 billion. The BNB and ETH chains were the most hacked, with rug pulls being the most common type of attack.
  • In 2022, there were significant developments in the regulatory landscape for cryptocurrencies and other digital assets, with the introduction of the first White House bill for crypto regulations and the MiCA regulation in Europe. These rules and laws aimed to establish a comprehensive framework for the regulation of cryptocurrencies and other digital assets, and demonstrated a recognition of the growing importance of blockchain technology. 

However, the question remains if this trend will continue this year for blockchain games. With the number of AAA games under development and some launching this year, the trend may as well continue to ride the bull. Keep visiting us for more on blockchain gaming news, and check out game reviews on our YouTube. One of the most promising MMORPG AAA blockchain games under works is Mirandus.

What Can We Expect from Gamefi in 2023? 

Leave a Comment

The crypto industry, blockchain projects, and Gamefi took a solid right jab to the face in 2022. It didn’t bode well for crypto and all its related domains when we compared them to 2021. To take a broad view of all domains, Web 3.0 had more than a trillion dollars in revenue at the start of 2021. However, 2022 was a miserable failure. How about 2023? What should we expect from Gamefi in 2023? Will we see further collapses like Terra, FTX, and Axie Infinity? Or will 2023 see a shift in both Gamefi and cryptocurrency? Let’s try to analyze what we can expect this year in Gamefi and subsidiary projects.

The 2022 Hard Fall and the Ripple Effect in Crypto and Gamefi 

The FTX collapse was the largest of all collapses in 2022. Once celebrated, Sam Bankman-Fried is now under harsh criticism and facing arrest. The lies, deceit, leverage, and loans have done nothing better for crypto as a whole. It not only led to more rules from the government, but it also hurt cryptocurrency as a whole because of the bad news. Now, in 2023, the investigation will continue from the ruins of FTX and could lead to rules for all other crypto domains, especially Gamefi.

Gamefi, Axie Infinity, and the Regulation Debate

Gamefi is a domain where financial rewards meet gaming. Players participate in games to earn digital assets such as cryptos, tokens, and NFTs that have real-world value. It is the only crypto domain that hasn’t faced any kind of regulation or investigation. The only limitation is that gambling laws prohibit games from offering monetary rewards. So, GameFi is still up for regulatory debate. However, Gamefi wasn’t immune to the frostbite of the raging crypto winter in 2022. Axie Infinity, the apple of the eye gamefi, suffered a massive collapse due to a variety of factors, including hacking, the crypto bearish trend, and the collapse of its own financial system. 

Consequently, the investors, especially those who got in late, lost every single dime. As it stands, Axie Infinity was down more than 90% when 2022 was coming to an end. So, we may see regulations hitting the gamefi, but how soon? What about the gamefi? 

\"crypto,
Gamefi and crypto regulation

Gamefi Regulation in 2023?

According to the majority’s opinion, gathered by Forbes, the regulations won’t come for Gamefi coins anytime soon. Also, the people who make blockchain games and the people in charge of them don\’t like regulation. The idea is simple if you want to keep out the speculators from the games: make games fun, challenging, and rewarding for gamers only. So, the majority of the tokens and in-game digital assets will be held by gamers only and not by speculators. The game model needs to be changed so that the focus moves from tokens to fun gameplay.

However, whenever finance makes it to a new market, investors need transparency, fairness, and a fair bit of protection. So, the gaming community, trade, finance, and online safety may as well join hands to create a better place in blockchain gaming. Also, governments all over the world have tightened the rules around crypto, and Gamefi will be no different. There were, are, and always will be people who will exploit the absence of regulations. Such entities may be filtered out of gamefi by regulators. If that is the case, then the regulations in gamefi aren\’t as bad as they sound; they won’t cripple the gamefi march.

Gamefi\’s Current Standing and Expectations in 2023

Gamefi didn’t do well in 2022. Those game-related projects that haven\’t released their games yet and are still looking for funding are on the safe side. While the majority of the game-related projects that have launched their games haven’t made considerable profits, The most difficult challenge is still developing a working tokenomics or financial model for in-game tokens. However, there are several game-related projects that are putting a lot of effort into developing AAA games.

In 2023, such AAA sci-fi projects with a strong emphasis on gameplay rather than tokens or a quick cash grab scheme may enter the market. There are games coming in from the likes of Gala Games, Animoca Brands, and several other big names that will roll out solid game-related projects in the near future. Check out some of the promising blockchain games and their reviews on our website. Some of the promising game-related projects, that we covered some, are Medival Empires Ertugrul, Spider Tanks, Apeiron, Illuvium, Alien Worlds, Angelic, and many others.

What to Expect from Gamefi in 2023? 

Leave a Comment

The crypto industry, blockchain projects, and Gamefi took a solid right jab to the face in 2022. It didn’t bode well for crypto and all its related domains when we compared them to 2021. To take a broad view of all domains, Web 3.0 had more than a trillion dollars in revenue at the start of 2021. However, 2022 was a miserable failure. How about 2023? What should we expect from Gamefi in 2023? Will we see further collapses like Terra, FTX, and Axie Infinity? Or will 2023 see a shift in both Gamefi and cryptocurrency? Let’s try to analyze what we can expect this year in Gamefi and subsidiary projects.

The 2022 Hard Fall and the Ripple Effect in Crypto and Gamefi 

The FTX collapse was the largest of all collapses in 2022. Once celebrated, Sam Bankman-Fried is now under harsh criticism and facing arrest. The lies, deceit, leverage, and loans have done nothing better for crypto as a whole. It not only led to more rules from the government, but it also hurt cryptocurrency as a whole because of the bad news. Now, in 2023, the investigation will continue from the ruins of FTX and could lead to rules for all other crypto domains, especially Gamefi.

Gamefi, Axie Infinity, and the Regulation Debate

Gamefi is a domain where financial rewards meet gaming. Players participate in games to earn digital assets such as cryptos, tokens, and NFTs that have real-world value. It is the only crypto domain that hasn’t faced any kind of regulation or investigation. The only limitation is that gambling laws prohibit games from offering monetary rewards. So, GameFi is still up for regulatory debate. However, Gamefi wasn’t immune to the frostbite of the raging crypto winter in 2022. Axie Infinity, the apple of the eye gamefi, suffered a massive collapse due to a variety of factors, including hacking, the crypto bearish trend, and the collapse of its own financial system. 

Consequently, the investors, especially those who got in late, lost every single dime. As it stands, Axie Infinity was down more than 90% when 2022 was coming to an end. So, we may see regulations hitting the gamefi, but how soon? What about the gamefi? 

\"crypto,
Gamefi and crypto regulation

Gamefi Regulation in 2023?

According to the majority’s opinion, gathered by Forbes, the regulations won’t come for Gamefi coins anytime soon. Also, the people who make blockchain games and the people in charge of them don\’t like regulation. The idea is simple if you want to keep out the speculators from the games: make games fun, challenging, and rewarding for gamers only. So, the majority of the tokens and in-game digital assets will be held by gamers only and not by speculators. The game model needs to be changed so that the focus moves from tokens to fun gameplay.

However, whenever finance makes it to a new market, investors need transparency, fairness, and a fair bit of protection. So, the gaming community, trade, finance, and online safety may as well join hands to create a better place in blockchain gaming. Also, governments all over the world have tightened the rules around crypto, and Gamefi will be no different. There were, are, and always will be people who will exploit the absence of regulations. Such entities may be filtered out of gamefi by regulators. If that is the case, then the regulations in gamefi aren\’t as bad as they sound; they won’t cripple the gamefi march.

Gamefi\’s Current Standing and Expectations in 2023

Gamefi didn’t do well in 2022. Those game-related projects that haven\’t released their games yet and are still looking for funding are on the safe side. While the majority of the game-related projects that have launched their games haven’t made considerable profits, The most difficult challenge is still developing a working tokenomics or financial model for in-game tokens. However, there are several game-related projects that are putting a lot of effort into developing AAA games.

In 2023, such AAA sci-fi projects with a strong emphasis on gameplay rather than tokens or a quick cash grab scheme may enter the market. There are games coming in from the likes of Gala Games, Animoca Brands, and several other big names that will roll out solid game-related projects in the near future. Check out some of the promising blockchain games and their reviews on our website. Some of the promising game-related projects, that we covered some, are Medival Empires Ertugrul, Spider Tanks, Apeiron, Illuvium, Alien Worlds, Angelic, and many others.

pecland - gamefi

PECland: A Fresh Look into Gamefi, NFTs, and Social Immersive Metaverse

Leave a Comment

In today’s blog, we will discuss an upcoming Web3 project that comes with a unique combination of Gamefi, NFT, social immersion, metaverse, entertainment, and business. Moreover, it also offers plenty of space on its metaverse social platform for users to unleash their creative ideas to craft new stuff. Let’s dig into PECland and see what it has in store for us.

Web3 and its subsequent domains like blockchain, gamefi, NFT games, metaverse, and more are steadily gaining momentum in the right direction. In the past couple of years, the plunging defi and crypto market hit a new low. The crypto market still remains in a bear trend with severe crypto winter blowing all around. During such a bearish trend, an opportunity to invest in the structure rather than the application is not a bad option. This is what is evident in the recent investments and flocking of developers from Web2 to Web3 projects.

Recent happenings like Elon Musk’s acquisition of Twitter, and events like Aptos’ main net launch have instilled a much-needed stimulation to the crypto market. Several NFT manufacturers are making their moves, investors are gearing up and searching for the right projects, and the long-dead silent crypto market is showing signs of recovery. Especially, according to crypto banks A16z and Paradigm, the investments in Gamefi and Web3 have shown signs of considerable improvement. Gamefi though looks and seems risky at this point, but it has the potential to explode in the next bull run.

PECland is a gamefi and NFT project that made it to the scene in the previous month, i.e. October. It combines NFT and gamefi and promises a Web3 game that will surely entertain the players.

PECland Overview

PECland is a new web3 project that offers a platform comprising NFT games, social immersive, business, and creative elements and features.

It offers a game that will let you live in a parallel reality in a metaverse where you will control your life and decisions. The game lets you design and create your own belongings like a house, and clothes, make friends, enter into a relationship, organize social parties, get married, and more. The game offers intriguing design elements that make the game exciting to play. Moreover, Pecland also has access to the ENS domain which allows users to have registered Web3 usernames.

Pecland metaverse blockchain NFT game
Pecland

The platform will let players conduct social events, parties, virtual concerts, and other social events which you may think of. The developers also plan to give players an island for free to build their homes and live on it.

Pecland Economy

Pecland motivates players and users to create, craft, and come up with creations that have practical benefits. This will let players enjoy the game as well as make quick money. So, how does PECland’s economy works? The answer lies in Pecland’s core pass, PECFriends.

PECLand PECFriends NFTs

PECFriends are cute adorable 3D characters of the game that are also NFTs. There are a total of 9000 PECFriends built on Etherchain. The early holders and owners of PECFriends will have the chance to play the beta version of the game. Moreover, users that hold MVP background NFT will enjoy free airdrops of future NFT series of PECland. The roadmap shows that the project is eyeing a marathon and won’t slow down anytime soon.

Pecland metaverse blockchain NFT game
PECland PECFriend

PECland Characteristics

So, what to expect from the game? First up, PECland takes social immersion to new heights via virtual reality. Players will not only enjoy their real-life experiences, but they will also make their dreams come true by creating whatever they like in parallel reality. Moreover, social gatherings will happen with like-minded people, and new friendships and relations will come into existence in this metaverse. Finally, the players will have the leverage to use UGC tools to achieve Social to Earn. The game will offer a stable revenue stream as well as plenty of fun to the gamers.

The Roadmap

As of now, PECland finished two Mints with its floor price standing at 0.06 ETH. So, what’s next, there’s plenty. PECland will launch its own market trading system for NFTs, top-notch NFT projects, and release NFT collectibles with different themes. The game has a promising team, Aries, a famous name in the game development industry, heads the team and is the founder of the project.

Check out some of the most anticipated blockchain games coming in 2023, click here. And did you check our P2E Games list?