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The GameFi & NFT Market
Overview
Most online games are based on a centralized model that hosts its data on a server that is fully controlled by the game administrators. The servers contain all the account data, history, and information about all the in-game assets belonging to an account whether it is an achievement, purchase, trade or an upgrade made by a user. Gamers are exposed to the company’s decisions regarding user account information, items and assets.
Some of the risks that centralized servers face are:
- Server malfunction due to technical issues
- System infiltration by hackers
- Game shut down
- Unjustified account bans
- Lack of transparency regarding game mechanics and rates
- Manipulation of the game economy by developers and administrators
Blockchain technology, however, can handle and mitigate most of these problems.
There are blockchain-based games already available today, but they can only be accessed via PC/MAC. None of the games on offer today are mobile, therefore none of them translate into the experience gamers actually want.
Cross The Ages will onramp the gamers into the story, gameplay, and characters by taking the mobile-first approach. This is then followed by bringing the gamers to the PC/MAC blockchain-based application to activate trading cards via minting NFTs and engaging in the online marketplace.
Furthermore, players will experience one more bridge between the virtual blockchain space and the physical world by collecting physical representations of their digital assets in the real world - the collectible NFC cards.
Market Size
Gaming
With over 2.7 billion players and $175 billion in revenue in 2020 alone, the gaming industry is the highest-earning entertainment sector worldwide. Without a doubt, many of today’s players will continue to spend money in the gaming sector into the foreseeable future. This remarkable growth in the gaming sector has increased the necessity for other sectors to explore opportunities to become active in the space.
FMCG giants like Red Bull and Coca-Cola, as well as automotive brands such as Mercedes have adapted their marketing and sales strategies to focus more on the gaming economy. The table below illustrates how tech giants have increased their investment in the gaming sector over the last several years through multi-billion dollar acquisitions.
Trading Cards
The physical trading card market size is estimated to be over 10 billion USD. The leaders in the category are Pokemon Cards, Magic: The Gathering and sports-related collectibles cards.
eBay released the report stating the platform has seen a 142% growth in their trading card category and they sold 4 million more cards in 2020 compared to 2019. Pokemon trading card sales increased by 574%.
This market category is growing and Cross The Ages aims to take the place we carved out for ourselves in the trading cards segment.
Last modified 4mo ago
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