NFT & GameFi market: prospects and opportunities
The NFT (non-fungible token) space experienced one of its most impressive expansions in 2021, with more than $23 billion* in transactions. Compared to last year, the increase was more than 24,000% (for all of 2020, NFT sales were about $95 million). Analysts forecast the NFT market to grow to $80 billion by 2025. And Collins Dictionary declared NFT the word of the year.
The fastest-growing segment in the second half of 2021 was the gaming NFT market, trading at $4.8 billion.
In the middle of the year, the market exploded with GamеFi projects such as Axie Infinity. Games based on the model of P2E (play-to-earn) attract players because now the game is not only entertainment but an opportunity to earn real money.
P2E games are particularly popular among residents of developing countries, such as the Philippines and Indonesia, where gaming revenues can exceed wages. The game requires only a few hours per day and thus can serve as an additional source of income.
By the end of 2021, 2.7 million new unique active wallets connect to decentralized apps daily, of which 1.4 million are GameFi projects.
Number of unique active wallets, mln*
2022 promises to be an equally exciting year for the market. Major game developers are preparing to enter the GameFi space, taking it to the next level of gameplay and graphics.
The time has come for the GameFi market infrastructure: just as in 2017, the cryptocurrency market badly needed exchanges and exchangers, giving us such giants as Binance, so now comes the era of "GameFi-exchanges" development.