Emerging Alongside Improved Infrastructure, Multiple High-Quality GameFi Projects Are Going Live

In 2021, GameFi experienced remarkable growth, with a significant milestone being the gold rush sparked by Axie Infinity, especially in Southeast Asia. Moving into 2022, despite the overall downturn in the

cryptocurrency

market, led by Bitcoin, GameFi exhibited significant potential in the first half of the year. Notably, projects like Move to Earn, exemplified by StepN, emerged and garnered widespread attention.

Discussions among players about GameFi revolve around the aspects of gameplay and economic models. Historical issues within the gaming landscape include: 1) subpar game quality and lack of engaging gameplay, and 2) unsustainable economic models.

As the cryptocurrency market environment gradually deteriorated, projects within the GameFi realm also began to face challenges following StepN's rise. The overall market capitalization of the GameFi sector experienced a sustained decline, and fewer early-stage projects within the GameFi space managed to secure funding.

As Cancun Upgrade Approaches and Various Layer 2 Solutions Introduce Modular Open-Source Frameworks, Fundamentals of GameFi Are Gradually Improving

Implications of the Cancun Upgrade

Central to the Cancun upgrade is Ethereum's EIP-4844, a groundbreaking inclusion that introduces a novel transaction type known as “blob carrying transactions,” aimed at mitigating Ethereum's transaction fees. Functioning much like conventional Ethereum transactions, blob carrying transactions incorporate an additional dataset referred to as the “blob.” In contrast to the current setup where calldata stores immutable transaction data and memory is solely read-only, blob storage offers significantly greater capacity at a reduced cost.

In essence, the implementation of EIP-4844 is poised to substantially decrease fees and significantly enhance performance within Layer 2 solutions. To put it succinctly, the execution of EIP-4844 is expected to result in a noteworthy reduction in L2 fees coupled with a significant boost in overall system performance.

Launch of Modular Open-Source Architectures by Layer 2 SolutionsThe OP Stack and ZK Stack are developed by the Optimism and zkSync teams, respectively. They can be understood as sets of open-source software components that enable anyone to build their own Layer 2 blockchain on top of Ethereum. Protocols with high-performance requirements can utilize the provided modules to construct their own application-specific chains.

Recent High-Quality Games

Matr1x FIRE

MATR1X FIRE is the first mobile platform shooter game in the metaverse, as well as the inaugural game on the Matr1x platform. Employing a dual-token economic model, players can team up to experience classic yet innovative 5v5 shooting battles in a cyberpunk world, reminiscent of CSGO in the Web2 realm.

The MATR1X team comprises members from both the traditional gaming industry and the blockchain sector. The MATR1X FIRE game ran its testing version from August 8th to August 28th. Users had the option to play for free with virtual credits or hold NFTs to gain privileges, such as airdrops.

Diverging from the majority of Web3 projects, the game's economic model is similar to the mobile version of CSGO, employing a cosmetic economy (purchasing weapon skins) to prevent a death spiral. Furthermore, even when using NFT skins, the game's attributes remain unaffected, ensuring fairness and maintaining gameplay integrity.

Wreck League

Wreck League is a Web3 multiplayer fighting game published by nWay, a subsidiary of Animoca Brands. The game is set to be released in September. In its inaugural season, Wreck League has partnered with Yuga Labs to utilize the IPs of Bored Apes, Mutant Ape Yacht Club, Bored Ape Kennel Club, and Otherside Kodas. Players of Wreck League will have the ability to collect mech parts (NFTs) and assemble them to forge complete mech character NFTs.

In conclusion, it's important to emphasize that the development of foundational technologies will inevitably unlock greater potential for growth in the upper layers. However, it's crucial to recognize that the developmental timeline for underlying technologies tends to be quite extended. Even with the completion of the Cancun upgrade or the utilization of modular open-source frameworks from L2 solutions, the performance of public blockchains still falls considerably short of the demands posed by GameFi. Furthermore, the development cycle of GameFi projects itself is relatively lengthy. For users seeking to reap profits from the GameFi sector, they have sufficient time to explore valuable GameFi projects..