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Cryptocurrency has provided security and transparency to users, giving financial freedom to nations around the world.
In addition to the crypto boom, the cryptocurrency (P2E) platform has also emerged, using blockchain technology. As with any internet connection it is possible to access P2E, the technology has become popular with businesses that are sometimes struggling to find new revenue streams.
A DappRadar and me Blockchain Game Alliance reports since Q1 2022 the GameFi industry has grown by over 2000% in the last year alone.
The sky is clear in the eyes of publishers, as well as professionals and other publishers who publish. USD 2.5 billion to 2022 in blockchain games and metaverse projects. Investors believe the economic potential of decentralized metaverses can be minimal That’s $ 8 trillion in market value only in China.
Under current market conditions, many developers are left wondering if GameFi will be affected by the new crypto winter. However, according to DappRadar’s latest report on the future of the GameFi industry, the game has shown interest in the metaverse environment in Q2 2022.
The report looked at health ecosystems and innovations related to GameFi and metaverse markets. For example, he found that when Bitcoin was declining in early June, the blockchain game Illuvium had sold 20,000 shares, making 4,018 Ether (ETH) for its developers, it was $ 72 million at the time of purchase.
The report covers a number of projects in detail, showing their progress and growth. Illuvium, Galaverse, and STEPN continued to bring new players to their field, generate interest and grow their business. Splinterlands was also found to have held 350,000 private bags per day (UAW) since May, representing a slight decrease of 4% since April.
The driving time behind these programs seems to be the main advantage offered by the game itself. With so many GameFi and metaverse systems using nonfungible signals (NFTs) and crypto signals, they are showing their value more than anything new. Take the card bags on the Shiryo game-to-earn, for example, can be bought and sold in the Shiryo ecosystem and used to play their game.
Dappradar’s latest report shows that GameFi’s viability can stand the test of time, despite the current crypto downturn, with many GameFi platforms still struggling in the bear market. Shiryo is a leading example of projects like this, with a strong and thriving community and the project continues to build despite market conditions. The team behind Shiryo is keen to use their knowledge to transform the gaming card niche into GameFi.
“We believe we can use our skills, passion, and capital to ensure we have the benefit of moving forward in creating and developing the best possible credit card game. at DeFi. We have big plans to not only take the credit card space – but stay in the metaverse, “the company said in its white paper. The project is still in development, including the launch of its decentralized autonomous organization (DAO) called ShiryoDAO.
Programs like Shiryo show that the GameFi segment is constantly growing regardless of the highs and lows of the crypto market. In addition, with investors and industry companies continuing to invest in gaming platforms, the bear market is unlikely to interfere in this crypto sector.