GameFi Market Set for 68% Annual Growth, Nansen Report Says

The GameFi market is poised for significant growth, and is projected to expand at an annual rate of 68%, according to findings from Nansen analysts.

In fact, the blockchain analytics firm predicted that this rapidly evolving sector is on track to reach $301.5 billion by 2030.

Expansion of Blockchain games

According to the latestai/articles/future-of-gamefi-in-web3″ target=”_blank” rel=”noopener” data-wpel-link=”external”> blog post According to Nansen, role-playing games (RPGs) “are particularly well poised to benefit” in the GameFi ecosystem primarily because they take advantage of decentralized ownership of game assets, such as characters and rare items, such as nfts.

This model allows players to own and trade these assets, adding real-world value to their in-game achievements and driving engagement. Role-playing games already lead Web3 games, accounting for 22% of the market.

AAA and AA games are also moving forward on Web3 GameFi. They currently represent 6% of the sector compared to 4% of Web2 games on platforms such as Steam. With a minimum funding of $25 million and backing from publishers, AAA games offer a “quality and immersion” that analysts suggest has never been seen before in blockchain games. Explaining this trend, Nansen analysts stated:

“This further cements the idea that users gravitate toward high production value games, implying that AAA titles on GameFi are filling an expected market need.”

Key metrics for GameFi success

The report revealed that there are key performance indicators such as low gas fees, high transactions per second (TPS), and strong security that are vital to the sustainability of GameFi projects.

Meanwhile, OpBNB stands out among the major chains with the lowest average gas fee of $0.0001, ideal for gaming use. Ronin follows with $0.00179 and Polygon PoS with $0.00293. Immutable x, however, sets itself apart by offering free gas fees on minting and transferring nfts.

OpBNB runs at 97 TPS on average, below its 10,000 TPS limit, while Ronin averages 20 TPS, Polygon PoS manages 33 TPS, and Immutable x is at 0.02 TPS. Current low TPS averages suggest that scalability is not yet a challenge, but high TPS will be crucial as games expand and the adoption of Account Abstraction (AA) adds complexity to gaming environments.

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