The latest report from Absolute Reports predicts huge growth for the GameFi industry over the next six years.
actionresearchThe nonfungible (NFT) play-to-earn gaming token industry is estimated to be worth approximately $2.8 billion within the period 2022–2028. Additionally, the industry’s annual growth rate is 20.4% over the same six-year period.
The forecast comes amid the current crypto bear market, with the report highlighting some of the leaders in play-to-earn game development, including Sky Mavis, Dapper Labs, Decentraland, Immutable and The Sandbox.
It also divides GameFi by console type and market region.
While it’s not a report showing a good future for the Web3 gaming industry, the research also highlights interest from VC investors in the current market, for example Animoca Brands, which recently acquired three companies within the GameFi space.
Other analyzes also show an increase in blockchain gamers. despite bad market conditions For example, both WAX and Binance Smart Chain have 2.94 million and 2.49 million users.
In times of market downturn, projects still have clear utility. Because blockchain-based games are a simple method. easy access And it is for this reason that blockchain games have acted as a gateway for new users to interact with the Crypto space.
However, as Web3 continues to evolve Experts stress that GameFi will have to adapt as well. In a recent conversation with the founders of Crypto Raiders, they urged developers to prioritize fun over “money.”
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