GameFi and NFT: What Projects Will Blow up the Industry in 2022

A multibillion GameFi and blockchain games market is named as one of the major trends of 2022 that promises many opportunities both for players and investors. Yet, so far the market is so fragmented and chaotic that it is hard to grasp how to profit from this trend. To succeed in this fast-growing field, one must know the secrets of the GameFi industry. How is GameFi different from online games? GameFi is a new niche in the blockchain industry at the nexus of two fields – decentralized finance and decentralized games. GameFi is far from being a simple online game. GameFi are gaming platforms that allow users to get profits in digital coins from gaming. On one side, it improves user retention rates, on the other – it helps users earn real money within a game. To start gaming and earning, a user has to buy a character or a gaming asset that is presented in the form of a non-fungible token – NFT. Largely owing to GameFi, the NFT market has achieved such unprecedented growth rates in 2021. According to the DappRadar statistics, the non-fungible tokens trading volumes have grown hundreds of times – from $100 million in 2020 to $23 billion in 2021. The lion’s share of those trading operations accounts for gaming NFT. In November 2021, trading volumes of gaming NFT exceeded $1 billion by almost doubling its growth rates in one month, in comparison with October 2021. This economic model for decentralized online games was dubbed ...