Topic: Why has GameFi hype died down? - page 2. (Read 296 times)

Most I have come across have 2D graphics, GTA 2 comes to the mind if I were to compare and I like to think when these crypto games see revolution like how mainstream video games saw in early 2000s then they may have some chance.

If some already established aaa title adopts crypto in their game, that'd be just as good. Example being, you can manage your in-game video game inventory on blockchain, trade with other players as how nfts get traded.

It could be all of those factors. And here are my explanations.

1. Low visual graphic, boring gameplay. - From what i have seen, the majority of crypto games are rarely have good graphics. we're at 2024. People know Unreal Engine 5 well. But, crypto game devs are using PS2 graphics for their games.

2. Poor tokenomics - Majority of crypto gaming developers have garbage tokenomics. Their in-game tokens have unlimited supply, which makes the in-game inflation become uncontrolled.

3. Non-profitable gameconomic - Play to earn is not giving you sustainable income now. Also, the majority of people invested during 21/22 have been losing their money due to inflation.

I'm playing this gamefi game called "Spellborne" religiously, to tell you the truth the game is repetitive; the only reason I play is because they have confirmed airdrop. I'm sure reason to play is same with other users.

Without incentives there is no reason to play, hence I feel they die down fast, and add the fact that incentivization that usually comes with native tokens is prone to outside market influences, bear market strikes and people no longer find these game worth their time and they leave.

Aside the incentives that some of these games offered to users, there was zero interest for users to keep coming back after the incentives were no longer available. Some of these games have very boring storyline and lore. For instance, Heroes of Mavia is at least a 100% copycat of the popular web2 games - Clash of clans and Boom beach. They only did a few tweaks here and there and slap a token to it.  Axiel infinity has some BS token mechanism that didn't the flaws that DeFi Liquidity mining and farming had and that is the fact that if you give tokens rewards, it dilutes the price even further causing a downward spiral dumps as gamers will just sell on the open market every time.

I think one factor as well is that the market has been saturated already, and if that happens, crypto enthusiast will have this kind of fatigue with all the new GameFi coming up and so it was not that really sustainable.

And we have seen precedence already, historically, from IEO to IDO to whatever hype in every cycle, we see that it will die down and there will be the next hype. Right now it's the Ton over applications, everyone was developing on top of it, like games and gambling platform. GameFi, might not disappear but I do not think that it will become as hot as it used to be.

Hype and trends come and go, it's nothing to do with the specific asset gategory like gaming. Once in the while they will pop up and same arguments about changing the world again are heard by new people, who get hyped and buy the whole sector up. They will come and go, even bad ideas are coming back over and over again.

GameFi is just one of the many, just like Decentralized gambling, market places, tokenized synthetics, AI, RWA, DeFi, memes, nodes, staking, NFTs, some specific new ecosystem, decentralized social media, RegFI, Sports, Metaverse, Yield farming, Politcal tokens, decentrallized Health industry, ZK, DAOs, Computing, storage, commercial, P2E, passive income, rebase(which was the stupidest idea ever), exchange tokens, wallet tokens, casino tokens, fan tokens, scaling, music, arts, tickets, file sharing, launchpads, Presales (and everything related to that) and freaking decentralized logistic infrastructure.

They shouldn't and many of them are just nothingburgers, but i made my peace with the fact that they will trend and dump over and over again. So GameFI will come again. It might come with a different name and slighly different angle, and i don't know if that's a good or bad thing, but it's going to pump & dump as well, like it did last time. Secret to the success is not leaving to hold the bag next time.

Because all of them provide half baked games since it was developed from scratch by developers that recently assembled for the investment purposes only. Gamefi games is still subpar if you will compare it on the regular games that you can play on game consoles like PS, Xbox and Nintendo.

Gamefi is just became popular due to the feature that gives potential earning however most of this project doesn’t provide profit anymore when played that’s why there’s no interest anymore on this project. The only this project to pay is for user to purchase their tokens.

The main reason was lack of interest. The projects were there, a lot of people made projects, but the user count to keep it going wasn't there for majority of them. If we consider stuff like Axie Infinity as gamefi, then we can say that there was just one of them which made some big user count, but even that had a trouble keeping it and dropped, the volume has to be kept going to make it work.

Think about it this way, some people will make money and sell it, so in order to keep the project going there needs to be people who constantly end up doing something to make this work.

This is why it is not that easy to make this work at all, we need to consider what could be good to keep going. This is why it is not an easy thing to do. You can't make it change anytime soon, it is not that easy, we need to consider how this is a very wrong time to make this work as well so we should avoid making big moves. This is why I believe that it will not be an easy thing to do.

GameFi, which is a combination of gaming and finance, has recently seen its hype die down, in my opinion. I recall 2021/2022 when the sector grew by 2000%, demonstrating rapid development, and we were all excited about what was to come.

We've also seen some resurgence over the last couple of months with projects like Portal, BIGTIME, Pixel, Pirate, and the recently discovered Counter Fire trying to rediscover their form or revive the trend. However, this has been slow to achieve. Could it be that their tokenomics aren't sustainable, users aren't interested, or that the games themselves are boring? What do you think could be the cause?