Floki Inu Soars to New Heights in the Cryptocurrency Market
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2022-05-07 | Selina Mathew
There are a variety of possibilities and challenges for builders and gamers, whether it's expanding the gaming experience or opening new doors for non-crypto native players to enter the market.
Alex Paley, co-founder of Solana-based blockchain game firm Faraway, told TechCrunch, "The idea is to transfer the Web 2.0 conventional gaming masses to web3." "The only way to do it is to eliminate as many artificial impediments as possible."
According to a DappRadar and Blockchain Game Alliance research from Q1 2022, the blockchain gaming business expanded 2,000 percent in the previous year.
According to the research, $2.5 billion was invested in the blockchain gaming field last quarter, compared to $4 billion raised for the sector in all of 2021, indicating a considerable increase in money flowing into this space.
While the web3 gaming industry is renowned for its play-to-earn models, a number of crypto gaming companies are now giving free-to-play alternatives for new players who wish to try before committing entirely.
The free games business was large about ten years ago, during the height of mobile gaming's free-to-play period. There were several methods for non-gamers (and seasoned gamers) to pick up their phones, download an app, and play within minutes, ranging from Angry Birds to Candy Crush.
According to research by Business of Apps, Candy Crush has been around for ten years and has made billions of dollars in overall income and over $1 billion in revenue in 2020 alone.
"The beauty of free-to-play was that it substantially increased the audience of individuals who could experience your game," Paley explained. "It's equally vital to accomplish that with web3."
Some crypto games are now contemplating a free-to-play approach to assist new players break into the sometimes locked crypto gaming business, which is known for its play-to-earn paradigm.
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