The fall of the crypto market in 2022 left negative results on various sectors linked to blockchain technology and cryptocurrencies. One of the most complex and high-impact moments was the fall of Terra USD, which undoubtedly dragged down the market altogether.
This situation contributed to many users desisting from using digital currencies and financial development projects, leaving their wallets practically inactive.
Otherwise, it was what happened with the games based on blockchain technology, which were positioned among Internet users and those interested in the crypto ecosystem, remaining among the most used as a source of additional income.
The progress of the Blockchain Games is evident. Still, it is also essential to question whether this trend will continue this year or whether it will simply generate controversy around it. A Website such as the bitcoin system helps get additional information regarding this.
A new version of video games is blockchain games.
In the world, more than 3,000 million people have leaned towards using video games regardless of their objective or functionality; this represents a large market that requires the creation of engaging content.
In other words, video games must evolve. Games based on blockchain technology represent an attractive option since players are not only entertained but also convert their points or levels achieved into digital money that can later be converted to fiat currencies.
The gaming sector’s blockchain ecosystem rewards players for their goals and the time invested in this application, where the market with the highest percentage of users is that which corresponds to developing countries.
It is essential to state that the Metaverse is a vital part of this new method of generating income because this sector will be highly impacted when the technology that this proposal brings with it is adopted.
The opportunities offered by the gaming sector and the crypto market generate more significant attraction in the most economically vulnerable users; consequently, they do not need to invest in starting; only their time and dedication allow them to obtain results.
A business model that stands out
The blockchain games proposal has opened the way for all those developers who find the perfect opportunity to grow in the digital financial ecosystem, where they offer entertaining proposals that engage their users and allow them to generate money through them.
The demonstration of the growth and impact of this technology is based on the number of unique active digital wallets for this type of entertainment and income generation tools.
Even though 2022 was a drastic year in terms of the fall in the market for digital currencies and DeFi, where even companies that were positioned as the most valued in the crypto market, blockchain games found their perfect point to enter the market.
The disaster generated by the fall of FTX contributed to the fact that many of the wallets with crypto assets collapsed, creating anxiety and confusion among users.
This situation did not discourage the faithful followers of the crypto-asset market, contributing to their taking refuge in the blockchain gaming sector.
Although almost 80% of DeFi Projects fell during 2022, the gaming sector was affected, only to a lesser extent, demonstrating, even in adversity, a continuous increase in active wallets created, which was around 1.2 million daily purses.
Since the beginning of 2022, the GameFi sector has demonstrated its position in more than 50% of the crypto investment sector, mainly highlighting the following applications: DeFi Kingdom of Harmony, Axie Infinity, and Splinterlands; the latter was the one that generated the greatest surprise after maintaining the growth of 300,000 active wallets per week.
Just as everything has its positive side, we also found that for users and connoisseurs of the Gaming sector, the blockchain represents possible damage to the video game ecosystem due to its link with cryptocurrencies.
We are still faced with insecurity and doubt regarding the financial and economic impact of cryptocurrencies and their possible worldwide adoption, considering that there are attempts to regulate and create legal instruments that formalize them as digital currencies for legal use.
It is at this point where NFTs come into play and the possibilities of capitalizing on digital assets beyond simply playing, also having the option of investing, which for many is quite interesting.