GameFi Market Scale

According to Newzoo's "2021 Global Game Market Report", in 2021, the total number of global game players will exceed 3 billion, and game revenue will total 175.8 billion US dollars. Newzoo believes that by 2024, gamers are expected to reach 3.32 billion, and global game revenue will reach 218.7 billion US dollars.

This is a huge game universe that is predictable. Although the prospects are good, it is followed by a deeper and deeper division, and the shortcomings are increasingly revealed:

(1) Game giants have become the ecological roles at the top of the industry chain, monopolizing channels, issuing income, and increasing industry barriers.

(2) Virtual assets do not belong to users. Players can only conduct on-site transactions, and cannot create value and share profits by participating in the game.

(3) The game values ​​are opaque, the rules can be changed at will, and the trust cost is high.

(4) Top-down game mode, flat ecological relationship, game focus depends on developers and platforms, and lacks UGC incentive mechanism.

Therefore, the traditional Free-To-Play game mode has been unable to meet the higher-level pursuit of players. A new round of journeys and battle lines of the game are opened in the blockchain world. The game field with native digital genes naturally coincides with the blockchain, because of its rapid user fission, it is also considered to be the fastest field and an important tipping point for the blockchain.

The application of blockchain to the game industry can change the problems of virtual asset confirmation and data black-box operation in traditional games. It is fair and credible, allowing users to truly own in-game assets; at the same time, it breaks channel monopoly and generates a new self-distribution network; Token incentives allow users The game is community-based, forming a closed loop of trading, circulation, investment, and collection.

The first batch of blockchain games, which combined the "transactional attributes" and "unique privacy of assets" of the blockchain with gameplay, attracted a large number of funds from the traditional game industry to flow to the encrypted world, and began to move towards blockchain game 1.0 A new era of times.

Since then, the cross-border wave of DeFi and NFT has set off, and combined with games, a new Play-To-Earn economic model has been derived, that is, players can obtain various in-game assets and token ownership by recharging and playing games, successfully promoting blockchain games step into the 2.0 era.

The new model has spawned a new market, and GameFi, which integrates DeFi, NFT, and games, will make a strong effort in 2021. According to DappRadar statistics, on April 18, 2021, the number of transactions in the chain game sector reached 480.7 billion US dollars. The number of players and users of Chain Games has also gradually increased. As of July 31, it exceeded 780,000, an increase of more than 170 times compared to the beginning of the year.