Why Everyone Is Looking Forward To Girand/ Why Girand Could Be A Gamechanger
2024 is expected to be a year of change in the development of the gaming industry, especially in light of the exciting new trend, GameFi. Combining the world of video games and decentralized finance, GameFi creates a unique space where players enjoy virtual worlds and actively participate in economic processes.
In this article, we will study the key trends of the GameFi market for 2024. We’ll take a look at the impact of innovation on the industry and discuss how these changes can shape the future landscape of the gaming world. Get ready to immerse yourself in the world of GameFi, where in addition to true entertainment you’ll find a place for making money and achieving financial success.
GameFi, short for “game finance,” combines games and decentralized finance (DeFi) into the wider category of video games. The core concept of “play-to-earn” (P2E) allows players to enjoy virtual worlds along with earning income in various forms by interacting with cryptocurrency game mechanics. The GameFi sector revolutionized the way people perceive games, opening up new prospects for the game industry.
The game economy has changed due to the use of non-fungible tokens (NFTs) instead of traditional in-game purchases. Owning unique characters, weapons, and items in the form of NFTs allows players to create, sell, and exchange assets within game worlds, opening up sources of income.
GameFi encountered difficulties throughout its history, especially during bear markets. In 2019, 94.3% of 244 games launched had failed. In 2021, only 45.9% of projects failed. However, 2022 has been a challenging period, where the number of failed projects doubled.
Till date (December 2023), 70% out of 720 GameFi projects have not been successful.
Despite the
