The development of GameFi: from the foundation of Decentralized Finance to the revolutionary path of on-chain gaming.

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A Review of the Development of GameFi and Future Outlook

DeFi and NFT lay the foundation for GameFi

Since the launch of the Ethereum mainnet in 2015, DeFi and NFTs have flourished, providing fertile ground for GameFi:

  • The total market value of DeFi grew from 50 million USD in 2015 to 100 billion USD in 2023.
  • The market value of NFTs has risen from several million dollars in 2018 to 8 billion dollars in 2023.

In 2019, Mary Ma, the Chief Strategy Officer of MixMarvel, first proposed the concept of GameFi, combining games and finance. In 2020, Andre Cronje further elaborated on the vision of GameFi, predicting that user funds would play a role in the virtual gaming world.

Looking at the historical development of GameFi, how will the future nurture new brilliance?

GameFi Reshapes the Gaming Industry

GameFi solves some problems in traditional gaming through blockchain technology:

  • Achieve true ownership of game assets
  • Break the monopoly of game companies and achieve free trading
  • Introduce DAO governance to allow players to participate in game development decisions.

The market value of GameFi rose from $200 million in 2018 to $24.52 billion in 2023, with a growth rate of up to 733.3% from 2020 to 2021.

Looking at the historical development of GameFi, how will the future give birth to new brilliance?

GameFi 1.0: Early Exploration Stage

CryptoKitties, as the first phenomenon-level blockchain game, pioneered the NFT gaming era. However, early projects like Fomo3D were mostly Ponzi schemes, lacking a complete financial system.

Looking at the historical development of GameFi, how will it give birth to new brilliance in the future?

GameFi 2.0: The Rise of Play-to-Earn Model

Axie Infinity pioneered the "play-to-earn" model, attracting a large number of users through complex financial mechanisms and engaging gameplay. The Sandbox, on the other hand, has created an open virtual world that has garnered capital attention.

Looking at the historical development of GameFi, how will the future give birth to new brilliance?

GameFi 3.0: All-chain games and cross-border integration

Current trends in GameFi development:

  • Build a fully on-chain game to achieve complete decentralization
  • Integration with new technologies such as AI and the Internet of Things
  • Introduce traditional game IPs to enhance playability
  • Develop high-quality game genres such as MOBA

The future of GameFi still has huge development potential, and the key lies in creating high-quality games that truly attract players.

Looking back at the historical development of GameFi, how will it nurture new brilliance in the future?

Looking at the historical development of GameFi, how will the future give birth to new brilliance?

Looking at the historical development of GameFi, how will it give birth to new brilliance in the future?

Looking at the historical development of GameFi, how will it give birth to new brilliance in the future?

Looking at the historical development of GameFi, how will it give birth to new glory in the future?

Looking at the historical development of GameFi, how will it give birth to new brilliance in the future?

Looking at the historical development of GameFi, how will it give birth to new brilliance in the future?

Looking at the historical development of GameFi, how will the future nurture new brilliance?

Looking at the historical development of GameFi, how will the future give birth to new brilliance?

Looking at the historical development of GameFi, how will it give birth to new glory in the future?

Looking at the historical development of GameFi, how will the future give birth to new brilliance?

Looking at the historical development of GameFi, how will it give birth to new brilliance in the future?

Looking at the historical development of GameFi, how will the future give birth to new brilliance?

Looking at the historical development of GameFi, how will it nurture new brilliance in the future?

Looking at the historical development of GameFi, how will it nurture new brilliance in the future?

Looking at the historical development of GameFi, how will the future give birth to new brilliance?

Looking at the historical development of GameFi, how will it give birth to new brilliance in the future?

Looking at the historical development of GameFi, how will it give birth to new brilliance in the future?

Looking at the historical development of GameFi, how will it nurture new brilliance in the future?

Looking at the historical development of GameFi, how will it give birth to new brilliance in the future?

Looking at the historical development of GameFi, how will it give birth to new brilliance in the future?

Looking at the historical development of GameFi, how will it give birth to new brilliance in the future?

Looking back at the development history of GameFi, how will it breed new brilliance in the future?

Looking at the historical development of GameFi, how will it nurture new brilliance in the future?

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ApeDegenvip
· 18h ago
Playing to earn is life
View OriginalReply0
GasFeeTearsvip
· 18h ago
Play is just about money.
View OriginalReply0
GasFeeCryvip
· 18h ago
Making money is the right way.
View OriginalReply0
BearMarketSurvivorvip
· 18h ago
A new bull run is coming.
View OriginalReply0
PretendingToReadDocsvip
· 18h ago
market capitalization big pump is a bit fierce
View OriginalReply0
ChainMaskedRidervip
· 19h ago
Funding changes the essence of the game
View OriginalReply0
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