GameFi Resurgence: Crypto Prices Drive Ecosystem Revival

GameFi projects are making a comeback in the bull market after a quiet 2022 and 2023. StepN, a move-to-earn protocol, has announced a partnership with Adidas to release 1,000 Genesis Edition nonfungible tokens (NFTs) on the Solana blockchain. This partnership is part of a one-year collaboration between StepN and Adidas, which will include NFTs and wearable sneaker releases. Each NFT sneaker from the Genesis Edition will be worth 10,000 GMT ($2,200). StepN, developed by FSL in 2021, allows users to earn rewards for physical activity such as walking, jogging, or running. Users can earn GMT tokens by using the StepN app and linking their smartphones.

Shiti Manghani, the CEO of StepN, commented that the partnership with Adidas shows the direction that lifestyle rewards are heading. Recently, StepN also announced a $30 million airdrop for its loyal users. Another project, Ordz Games, unveiled its first Web3 handheld gaming device called “BitBoy One.” The device allows players to earn Bitcoin by playing retro-style games. It offers a variety of games that are stored on the Bitcoin blockchain. The BitBoy One has Bluetooth and WiFi capabilities for multiplayer gaming. Each device comes with a 3D rendering that can be viewed on VR devices.

In the world of video games, ARPG In the Darkness, built on the Arbitrum blockchain and developed by Seraph Studio, achieved significant sales through in-game NFTs such as heroes, gear, and priority passes. The game is set to launch its pre-season on April 19 and features a dark medieval setting where players can customize their heroes, battle monsters, and earn loot. It also offers features that allow players to rent their in-game NFT equipment for rewards and discover treasure NFTs. The game has been in development since 2021, with a total of $8 million spent on operations and research. It will be available on PC, iOS, and Android.

According to data from DappRadar, the number of unique active wallets in the GameFi sector has more than doubled in the past year to 2.54 million. Yat Siu and Johnson Yeh, founders of a gaming studio, predicted that “tens of millions” of players would enter Web3 gaming this year. GameFi projects have also faced criticism for prioritizing finance over fun, leading to notable collapses in the past. Despite this, the resurgence of GameFi projects in the current bull market indicates renewed interest and potential for further growth in the sector.

5 thoughts on “GameFi Resurgence: Crypto Prices Drive Ecosystem Revival

  1. Wow, GameFi projects are making a strong comeback in the bull market! Exciting news! I love seeing the gaming and blockchain worlds come together. The partnership between StepN and Adidas is a game-changer. The Genesis Edition NFT sneakers sound absolutely incredible. Can’t wait to see what they look like!

  2. The whole concept of earning Bitcoin through retro games seems like a scam. 🕹️

  3. I’m tired of hearing about NFTs and blockchain gaming. It’s all just a bunch of buzzwords.

  4. Why would anyone spend thousands of dollars on virtual sneakers? It’s ridiculous.

  5. In the Darkness on the Arbitrum blockchain sounds intriguing! The concept of customizing heroes, battling monsters, and earning loot in a dark medieval setting is so exciting. I’m definitely looking forward to its launch.

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