Footprint Analytics: Will 2022 See the Rise of GameFi 2.0? | Annual Report 2021

According to Newzoo 2021 Global Gaming Market Report, the number of global players grew 5.3% between 2015 and 2021 compared to 2020, and now exceeds 3 billion. In the same year, total global gaming revenue grew 1.4% year-over-year through 2020 and currently stands at $ 18.030 billion, and mobile gaming revenue is expected to account for 52% of the global market. total.

Gambling is a huge and irreplaceable form of entertainment. And now, it is also combined with the blockchain, giving rise to a new game model: GameFi.

Screenshot Source - Global Gaming Market 2021
Screenshot Source: 2021 Global Gaming Market

During the first half of 2021, the idea of ​​GameFi really took shape, defined as a combination of games + DeFi + NFT. Axie Infinity was the first major game to demonstrate how decentralized finance and non-fungible digital assets could work with the game.

During the second half of 2021, GameFi surpassed DeFi as the most popular sector in the crypto market. With the name change from Facebook to Meta, the metaverse became a widely known term.

Footprint Analysis: Total Monthly Number of GameFi Protocols in 2021

GameFi transactions ended the year with an increase of 2934%

According to Footprint Analytics, GameFi entered a period of explosive growth in March, which lasted until August, when transactions leveled off. GameFi transactions also experienced two growth peaks during this period, on April 9 and December 27.

Footprint analysis: GameFi transactions in 2021
Footprint analysis: GameFi transactions in 2021

The two developments that drove these spikes were:

  • The WAX ​​chain features the ability to create, buy, sell and trade digital goods all in one: the WAX ​​chain, which attracts the majority of users with improved performance of compatible games and cheaper gas rates than ETH, is a blockchain focused on game accessories. and digital collections.
  • Hive is a very innovative decentralized blockchain ecosystem: in the second half of 2021, Hive, whose number of users consists mainly of the game Splinterlands, adds the PvP (Player versus Player) combat mode and launches the government tokens of the game SplinterShards (SPS) in August, which increased the trading volume on GameFi to $ 44.2 billion.

Hive, WAX, BSC and Ether are the main battlegrounds for GameFi in 2021.

Footprint Analysis: Daily Number of Cross-Chain GameFi Users

Top 5 GameFi Games of 2021

The top 5 games in terms of trading volume, according to Footprint Analytics, were:

  • DeFi Kingdoms – A Harmony-based play-to-win game with a variety of features that allow users to win while playing and have a great experience.
  • Axie Infinity – With a unique economic model, providing liquidity based on rarity, it was the first game to explode and popularized GameFi.
  • Bomb Crypto – A game in which the player manages a group of bomb heroes to fight monsters and anyone can earn tokens by skillfully playing and contributing to the ecosystem.
  • Elfin Kingdom – A decentralized financial farm and non-fungible token with gamification elements merged into one gaming platform for income. However, this game is still in its infancy and has yet to have an IDO (Initial Digital Asset Offering).
  • Nine Chronicles – A free role-playing game that uses its own blockchain and cryptocurrencies.
Footprint Analytics: The Most Popular Games Right Now (December 31, 2021)
Footprint Analytics: The Most Popular Games Right Now (December 31, 2021)
Footprint Analysis: Network and Games Market Share Distribution (December 31, 2021)
Footprint Analysis: Network and Games Market Share Distribution (December 31, 2021)

GameFi funding spikes in the fourth quarter

As GameFi’s crypto market grows rapidly, major investment institutions continue to enter the blockchain world. According to Footprint Analytics, the fourth quarter was the funding peak for GameFi.

Footprint Analytics - Fundraising number per round per month
Footprint analysis: number of fundraisers per round per month
Fundraising amount per round per month
Footprint analysis: fundraising amount per round per month

Looking forward to GameFi 2.0

In 2021, NFTs and DeFi gained widespread acceptance, while GameFi had its first explosion.

What will be the next iteration of GameFi in 2022? At Footprint Analytics, we believe that GameFi 2.0:

  • Includes more social elements. By integrating the attributes of DAOs, games will allow players to have a greater voice in game development.
  • Be more playable. While most of GameFi’s current projects are focused on profit, the next innovation at GameFi will be creating games that are truly fun.
  • Have a lower barrier to entry.

Benefits for CryptoSlate Readers

From January 11 to 25, 2022, click this hyperlink on CryptoSlate for a free 7-day trial of Footprint Analytics! New users only!

Date and author: January 13, 2022 [email protected]

Data source: Footprint analysis – GameFi Board 2021

This article is part of our Year in Review series.

What is footprint analysis?

Footprint Analytics is an all-in-one analytics platform for visualizing blockchain data and discovering insights. Clean and integrate data chain so that users of any level of experience can quickly start researching tokens, projects and protocols. With over a thousand dashboard templates plus a drag and drop interface, anyone can create their own custom charts in minutes. Discover blockchain data and invest smarter with Footprint.

Posted in: Analysis, GameFi

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