Due to the downturn in the cryptocurrency market, blockchain-based games will be one of the best ways to attract new users to the industry, according to experts from the analytics company Absolute Reports.
Absolute Reports has published a forecast for a sharp growth in the GameFi industry over the next six years. The non-fungible token (NFT) based industry will grow in cumulative value to $2.8 billion from 2022 to 2028. Moreover, the annual market capitalization growth rate of the industry will be 20.4% over the same six-year period. For comparison, in 2021, the NFT games market was estimated at $776 million.
According to Absolute Reports, due to the recession in the cryptocurrency market, there are few projects left that can move the GameFi industry. Analysts named such companies as Decentraland, Dapper Labs, Sky Mavis, The Sandbox and Immutable.
According to experts, games are successfully attracting new users to the crypto industry. In the future, this role will remain with them and even increase. Blockchain-based games are a simple, affordable and fun way to showcase the value of the crypto industry, the report says.
However, as Web3 continues to evolve, experts stress that GameFi will also need to adapt to current market conditions in order to continue attracting new users.
Earlier, Tim Sweeney, co-founder and CEO of gaming company Epic Games, said that he would not follow the example of Steam distributor and developer Mojang and would not ban NFT and blockchain games on his site.
Source: Bits

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