In one Video Recently, analyst Guy said he is keeping a close eye on GameFi, an emerging sector of the cryptocurrency market that allows gamers to earn digital assets like tokens and NFTs for their in-game activities.
According to Guy, GameFi is changing the way gamers are encouraged to invest time in games.
“NFTs in games are revolutionizing how gamers spend their time in the virtual domain. It does this by enabling them to leverage a new and alternative model of economic propositions powered by in-game digital asset ownership and NFT.”
Guy says he’s particularly optimistic about the prospects for pioneering play-for-money (P2E) games like Axie Infinity (AXS), The Sandbox (SAND) and Decentraland (MANA).
“I think GameFi embodies one of the most advanced and exciting ecosystems in the blockchain space right now, and I see an incredibly bright future for a number of P2E games, particularly those with a first-mover advantage like Axie, Sandbox, and Decentraland many other .”
In addition to encouraging people to invest time in gaming, the analyst said GameFi could also encourage the mainstream adoption of cryptocurrency and blockchain technology.
“Over 2.7 billion active gamers worldwide are familiar with scarce digital items and encrypted in-game content. The P2E structure can empower these actors in a way that has clear financial benefits. Therefore, I believe GameFi is poised to capture an ever-increasing share of this lucrative global gaming market…
With the success of P2E games like Axie Infinity, as well as the number of innovative blockchain games currently growing, it’s clear that the GameFi ecosystem has a bright future ahead of it, and while it’s difficult to accurately predict the future. I remain bullish on GameFi.”
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