Source: beincrypto.com

Following the expansion of the decentralized finance (Defi) and non-fungible tokens (NFT) markets in 2020, blockchain games have been at the forefront of the cryptocurrency ecosystem since 2018, laying the groundwork for a profound shift in the gaming economy.

Thus, beginning in 2021, there was a boom of the so-called “play to earn – p2e” game model, which succeeded the two previous generations (“pay to play” and “free to play”), bringing significant innovations and a major paradigm shift, granting players ownership and rights over the assets of the game, and offering the possibility of monetizing game time based on dedication, skills.

Playing to win allows players to share the value generated by the ecosystems of which they are a part, and players’ investments and efforts in the game are rewarded and remunerated with tokens and crypto-assets in an open economy system, where the assets are owned by the players and can be freely traded by stakeholders in the secondary market (in P2P transactions or various exchanges and markets).

The blockchain gaming segment has moved over $100 billion in the last year and has over a thousand game titles published across multiple networks. In this regard, games like Axie Infinity, The Sandbox, and Decentraland stood out in the industry.

However, because this is a new and unconsolidated market, much maturation will be required in the coming years. The GameFi ecosystem is currently composed of more investors than players, which, combined with its interdependence on the macroeconomic context, creates a high volatility scenario (which, on the other hand, can act as a filter for good projects).

Another critical point is the evolution of technology, the user interface, user experience, or even the economy of projects and the quality of games (with cost reduction and improvements in speed, security, and scalability).

Users, communities, organizations, and businesses must grow, and so must the digital economy as a whole for such growth to occur in the coming years. Felipe Barros, DUX’s Head of Education and Research, discusses the profound transformation in the electronic games economy and identifies seven trends for the GameFi ecosystem’s development in 2023:

1. Platforms

Platforms that provide infrastructure and technology for the implementation of new games, capable of receiving several releases and appealing titles in the coming years (examples include Mavis Hub, Gala Games, Elixir App, Myria, Fractal, Wombat, Marblex, and Oasys, which have already stood out and could gain strength in 2023, as well as the web experience platform3 that has already stood out and could gain strength in 2023, as well as the web experience platform3 that has already.

2. AAA games

Games with a high level of graphic quality, interactivity, gameplay, plot, and expressive budgets, are in charge of attracting large audiences for the quality of entertainment.

3. Migration from web2 to web3

Traditional and best-selling games are migrating to new blockchain-based technologies and attracting part of their audience to this new environment, closing the gap between Web2 and Web3 players.

4. Figital

Trends that combine initiatives in both the physical and digital worlds, such as “move to win” or “treasure hunt,” which use GPS to track the user’s activities, movement, and location in the real world and translate them into tasks, missions, possibilities, and rewards. Found within the games.

5. Communities

New communities and niche groups join web3 by inserting segments related to their crypto-economics and blockchain technology interests and activities. Moving to Win, for example, attracted a portion of the fitness community, whereas GameFi primarily attracted communities of investors and digital and cryptographic asset enthusiasts. Hence, most traditional players have yet to enter this universe. As the digital economy expands, a new “boom” of beginners and new entrants in the sector must occur with each new community.

6. Competitive scene (esports)

Development of a competitive scenario capable of increasing the success and popularity of the project, as well as the participation of the community around the game, recognition, and prizes of tournaments and various championships.

7. Metaverse

Development of immersive, interconnected, and customizable digital worlds capable of offering many possibilities and new experiences to users (from entertainment to e-commerce via art, education, gamification, and new business opportunities), resulting in actual digitization of life and daily activities. Can you imagine a three-dimensional internet?.

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