NFTS’s growth has reached the higher level in terms of popularity and acceptance of the cryptographic community and the dominant current. Non -fustile tokens (NFT) which were initially considered as a bubble now expand their coverage through cryptocurrency.
According to a Dappradar report, the NFT market has experienced its best year, generator More than $ 23 billion with the market capitalization of the floor of the 100 best NFT collections located at $ 16.7 billion, on December 17, even before the year closed.
The biggest decision for NFTS and the Metaveverse space was the announcement of Facebook to be renamed in Meta on October 28 in order to extend its scope beyond social media and in the metavers. In fact, during the last week of October, it was revealed that more than $ 106 million in metovers were sold in seven days.
Within the cryptocurrency, the frenzy of NFT collectibles started in 2017 with the launch of the cryptokitties game and the subsequent demand for these digital cats. At its peak, the blockchain game recorded a maximum of 140,000 daily users and 180,000 daily transactions in November 2017, but this traction was quickly lost over a few months. Since then, the Collectible Domaine has continued to have renowned collections such as cryptopunks, Yacht Club Apes and NBA fire.
The initial interest around the NFT in the dominant current came from the digitization and the tokenization of works of art by renowned artists like Beeple thanks to the auctions organized by traditional art galleries like Christie’s and Sotheby’s.
Since then, the scope of the NFTS has extended to include art, music, games, sports and tweets – almost any digital or real asset – which can be thrown while holding their value and offering a single property.
Gamefi changes the situation
The essential moment of the watershed for the NFT which followed the Metavese story goes through the Gamefi protocols. Gamefi is defined as the combination of the game and decentralized finance (DEFI) in a single ecosystem. According to Huobi Research, the cryptocurrency exchange branch, Gamefi has relaunched the interest in blockchain games.
The main protocol in this regard in 2021 has been an Infinity Axy, a game universe where players can collect axies like pets in order to fight, reproduce, raise and build kingdoms for their pets. The game ecosystem is powered by AXS and SLP, the native tokens of the ecosystem.
The game based in Ethereum was released in March 2018 and was developed by the Vietnamese game developer Sky Mavis. Due to the media threshing that surrounded the game this year, the Axie Infinity collection quickly increased to become the most exchanged NFT collection in the short history of NFT. The collection has turned Nearly $ 4 billion in sales of all time. Axie Infinity has exceeded other blockchain games in a mile with the current trading volume in play.
The daily active users of the game went from 20,000 users in March of this year to 2.5 million users in December of this year, marking an increase of 125x in less than nine months – a remarkable feat for a game that has only won the beating that this year. The game recorded $ 9.72 million in a single day in June, exceeding a tencent record at the time. In the third quarter of 2021, the game represented 19.5% of the total NFT trading volume during the same period and $ 2.08 billion in negotiation volumes.
Although this game is based on Ethereum, the games based on the blockchain have spread on blockchain networks like Solana and the smart channel Binance. There have been several games that have gained popularity in blockchain networks such as the Splinterlands on Hive and Wax, the extraterrestrial worlds on the wax, the highlands on EOS and MOBOX based on the smart chain Binance.
The investment raised with the Blockchain Games field exceeded a billion dollars in 2021, led by the $ 930 million collected by the Labs Strong Gaming Company.
Posser traditional games and regulations
Even if Gamefi disturbed the game with the introduction of Blockchain technology, the traditional game industry has not really received this innovation. Steam / Valve has banned all games based on the blockchain of its platform earlier this year. In response, however, more than 26 advocacy companies and groups called on the company to reverse the ban.
In addition, the South Korean government has now blocked the release of new Play-to-Garn games (P2E) and asked existing blockchain games with a P2E model to be deleted from Apple Store and Google Play Store. On the other hand, Epic Games, the creator of Fortnite, said that the company was open to games based on the blockchain that support cryptocurrency and assets based on blockchain.
Even Elon Musk, CEO of SpaceX and Tesla, recently said in an interview on December 22 that he believed that his business technology, Neuralink, is better than the long -term metavese because he does not see “someone who attaches a friggin screen to their face all day”. Musk added: “In the long term, a sophisticated neural could put you entirely in virtual reality. I think that we are far from disappearing in the metavese, it seems just a little buzz word.”
In relation: Concerts in the metavese could lead to a new vague adoption
Despite the decline in the traditional game industry and certain regulators, Gamefi has increased at an incredibly fast pace. The company behind the first ETF based on Bitcoin in the United States, Proshares, announced its intention to launch an ETF focused on the metavese which will include companies like Apple, Meta and Nvidia. The company has applied for the FNB to the American Commission Securities and Exchange (SEC) under the name of Proshares Metaverse Theme Etf, which will follow the performance of the Metaverse Solactive (Sometav) theme.
Even one of the Big4 consulting companies, PricewaterhouseCoopers (PwC) Hong Kong, plunged the toes into the metavese. The company bought land land in a metavese game sandbox. Even the manufacturer of Italian luxury sports cars Ferrari referred to NFTS after an agreement with the Startup Swiss Blockchain Startup Velas Network.
Companies as such can use blockchain technology to create commercial models in metavers and reach efficiency and cross -compatibility with the real world. If 2021 can be considered the year of DEFI and NFTS, it is almost certain that 2022 will be the year of Gamefi and the Metaversse.
