Play to Earn Crypto, GameFi, Games Surpasses DeFi in Popularity.

DappRadar has come up with interesting stats on crypto about the users and their wallets. DeFi is trendy nowadays and users associated with crypto are well aware of it.

Play to Earn Crypto Games, GameFi, Surpasses DeFi in Popularity
Play to Earn Crypto Games, GameFi, Surpasses DeFi in Popularity

However, it is GameFi where all the action is taking place for the past couple of months. There are interesting facts and figures which show how GameFi has taken the center stage over time.

According to DappRadar, more than 50% of active cryptocurrency wallets were connected to decentralized applications associated with gaming. The report also shares that users active cryptocurrency wallets attached to DeFi dropped to 45% last month. This is for the first time in many months that DeFi is taken over by GameFi.

GameFi’s popularity soared thanks to Axie Infinity which allows players to earn real money by winning battles, selling monsters as well as digital assets. The player database is increasing rapidly for Axie Infinity because many crypto enthusiasts are also regular gamers.

Quickly, the meaning of GameFi;

GameFi is an amalgam of two words: gaming and decentralized finance (DeFi). It is also referred to as play-to-earn (P2E) games. Almost all of these blockchain-based games are accompanied by a corresponding in-game currency, a marketplace, and a token economy, usually managed and governed by the community.

DappRadar’s Pedro Herrera said, “We see around 80-100 million transactions in games daily, it’s just impressive to see the evolution that blockchain games have experienced this year.”

Axie Infinity is having an explosion as the report also shares that in the past 24 hours the game was played by another 104,000 players.

Besides Axie Infinity, there are several other games that had made it to the limelight like Alien Worlds, Splinterlands, and CryptoMines. These games have a massive number of players and the numbers are growing with every passing day.

The top five gaming dapps have an accumulative investment balance of $14 billion. On the other hand, top five DeFi apps have $130 billion over the past 30 days.

Play to Earn Crypto Games, GameFi, Surpasses DeFi in Popularity
Play to Earn Crypto Games, GameFi, Surpasses DeFi in Popularity

Players have erected their own micro-economies as they rent, sell, and purchase digital assets. Michael Bohnen, owner of EOSUSA, said, “There’s much more opportunity in the gaming space than there is in the DeFi space.

“There’s only so many banks, but there’s always a brand new game of the week. It’s much more of an expansive space in my opinion There’s more opportunity to potentially make money.”

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Reinout te Brake

In a career spanning across 20+ years, Reinout te Brake has raised over 100+ Million Euros in Fundraising for a diversity of companies and has worked with several venture capitals firms. Helping gaming companies expand their brand reach, get the right story telling and make an impact on a global scale. Reinout te Brake has had the honor to counsel some of the major gaming companies operating on a global scale. For the last 12 years, he has devoted his major focus towards the niche of gaming consultancy to provide his insight and expertise to help gaming companies reach outstanding financial and business results.