GameFi Market Predicted To Grow Rapidly 68% Per Year, Investors And Developers Start To Look

GameFi market is predicted to grow rapidly by 68% per year, investors and developers are starting to look (Photo; Doc. Gamefi.my)

JAKARTA - In recent years, the gaming world has undergone a major transformation thanks to the emergence of blockchain technology. Now, the GameFi market, which combines elements of games with decentralized finance, is expected to grow rapidly with an annual rate of up to 68%, according to a recent report from Nansen. With market potentials that could reach 301.5 billion US Dollars (Rp4.7 quadrillion) by 2030, many investors and developers are starting to look at this promising sector as a fertile field for innovation and profit.

According to Nansen, this growth is mainly driven by the popularity of the role-playing game (RPG) and high-quality (AAA) games which are increasingly integrating NFT assets into their gaming mechanisms. This model not only provides real world value for the achievements in the game, but also increases the involvement of players by allowing them to own and trade assets in the game.

Nansen's report states that RPGs are perfect for leveraging the GameFi ecosystem. The game, which currently includes 22% of the Web3 market, allows players to have characters and rare goods as NFTs. This provides incentives for players to invest more in their gaming experiences, as well as strengthen communities around the game.

Meanwhile, the games AAA and AA are also starting to gain a foothold in GameFi. With the support of publishers and initial investments of at least 25 million US Dollars (Rp393 billion), these games offer quality and immersion that has never been seen in the blockchain-based gaming world. Nansen explained that improving the quality of this game production reflects unsatisfied market demand for a deeper and more satisfying gaming experience.

The Nansen report also identifies a number of important performance indicators that are the key to the success of the GameFi project. Among them are low gas costs, high transactions per second (TPS), and strong security. This is all important to ensure the sustainability of the GameFi project in the future.

In terms of gas costs, OpBNB appears as the leader with the lowest median costs of 0.0001 US Dollars (Rp1.57) per transaction. While Ronin and Polygon PoS follow at a cost of 0.00179 US Dollars (Rp28.16) and 0.00293 US Dollars (Rp46.09), respectively. Interestingly, Immutable X offers free gas costs for minting and NFT transfers, making it an attractive choice for developers and players.

As for transaction speed, the OpBNB operates with an average of 97 polling stations, well below the maximum limit of 10,000 polling stations. While Ronin, Polygon PoS, and Immutable X operate at 20 polling stations, 33 polling stations, and 0.02 polling stations, respectively. Although currently the average TPS is still relatively low and not a challenge, the need for high speed will be increasingly important along with the expansion of the gaming world and adoption of Account Abstraction (AA) which adds to the environmental complexity of the game.