The host of popular crypto channel Coin Bureau is unveiling one nascent crypto sector that he believes is positioned to reward the efforts of billions of users across the world.
In a new video, the analyst known as Guy tells his 1.9 million YouTube subscribers that he’s keeping a close eye on GameFi, an emerging sector of the crypto market that allows gamers to earn digital assets such as tokens and non-fungible tokens (NFTs) for their in-game activities.
According to Guy, GameFi is changing the way how gamers are being incentivized to invest time into games.
“In-game NFTs are revolutionizing the way players engage with their time spent in the virtual domain. This is done by allowing them to leverage a new and alternative paradigm of economic propositions fueled by digital asset ownership and in-game NFTs.”
Guy says that he is particularly optimistic about the prospects of pioneering play-to-earn games like Axie Infinity (AXS), The Sandbox (SAND) and Decentraland (MANA).
“I think GameFi embodies one of the most exciting and leading-edge ecosystems in the blockchain space at the moment, and I foresee an incredibly bright future for some play-to-earn games, especially those with first-mover advantage like Axie, the Sandbox. Decentraland and a plethora of others.”
Besides incentivizing time spent in games, the analyst says GameFi could also push the mainstream adoption of crypto and blockchain technology.
“The more than 2.7 billion active gamers worldwide are already pretty familiar with scarce digital items and the tokenization of in-game assets. Play-to-earn structures can empower these gamers in a way that has clear financial benefits. Therefore, I find it rather difficult to imagine that GameFi isn’t destined in some shape or form to take increasingly bigger bites out of that lucrative global gaming market…
Given the ultimate success of play-to-earn games such as Axie Infinity as well as the number of innovative blockchain games currently being developed, it’s clear that the GameFi ecosystem has a bright future ahead of it and while it remains quite complex to predict how this future will unfold, I do remain bullish on the GameFi sphere as a whole.”
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Source: https://dailyhodl.com/2022/01/24/one-bullish-crypto-sector-has-a-bright-future-ahead-of-it-according-to-coin-bureau-heres-why/