Discover how GamesPadthe world’s first holistic gaming, NFT and metaverse ecosystem is transforming the video gaming industry.
The Covid-19 pandemic significantly changed many sectors of the economy, and these changes have had a detrimental effect on most industries on a global scale. However, video gaming is one of the few niches that has prosperously benefited from the Covid-19 lockdowns.
By combining the fast growth of the blockchain and crypto industries with the popularity of traditional video game fandom, gaming is rapidly transforming into GameFi the fusion industry of the gaming and financial worlds with an ecosystem that uses cryptocurrencies, non-fungible tokens (NFTs) and blockchain technology to create a virtual gaming environment.
Players who have been once interested in ordinary online games are now shifting their interest to the metaverse. As a virtual world designed to connect users within a shared digital platform to interact and socialize, the metaverse is creating excitement among players by providing virtual space to live out real-world experiences. The tangible connection between video games, crypto and the metaverse continues to make itself more clear as GameFi grows.
With all that in mind, we can conclude that we are on the path toward a total transformation of the video gaming industry. Let’s take a look at what this transformation is all about and why the video gaming industry will never be the same again.
How will video gaming look in the metaverse?
The following six main elements will be defining factors in the video gaming metaverse.
- New social interactions within the game-changing the user behavior
- Innovations in content delivery, technology and game design, including the growing role of user-generated content (UGC)
- The increasing popularity of NFTs and the concept of ‘permanent digital ownership’
- Merging different game worlds and IP
- The growing importance of in-game identity and customization
- Fusion of digital and real worlds
According to the experts at GamesPad, the furthered development of this concept would give ambitious GameFi projects new opportunities for monetization, as well as increase retention and other metrics.
In addition, the metaverse expands the crypto gaming experience, gives users new motivation to play and opens up new ways to earn money and new business models for GameFi projects.
The new video gaming experience
The metaverse is growing in importance to the video game industry every day. Over the past decade, gaming has evolved into a complex experience that includes dynamic forms of playing, viewing content and interacting with other users. Naturally, within this context, the metaverse is the next step in creating new gaming and non-gaming experiences.
Games are becoming multi-faceted platforms where different users can create and benefit from their own content outside of the core product. That is why we are seeing creators hold virtual concerts and fashion shows, integrate third-party IPs and enter into partnerships with other brands.
Players also use these platforms to express their own individual identities. They create their own content (including projects) and interact with other users or arrange joint events.
Video gaming is turning into a cross-media project, showcasing diverse characteristics.
- Different game services
- Competitive gaming, including e-sports, online events and tournaments
- Community-related games, including streams, bloggers and forum users
- Franchise games, including movies, TV series, merchandise and other products based on the main game
- Platform games, including non-gaming experiences, social platforms and UGC games
GamesPad is shaping the future of gaming
The GameFi concept is fundamentally changing the future of video games, and one-of-a-kind projects like GamesPad are helping move it all along. The project pursues a mission to support and incubate game entrepreneurs through its comprehensive crypto gaming, NFT and metaverse ecosystem, offering them mentorship, advisory and network connections in the gaming and crypto space.
Advising GameFi projects in PR and marketing, technology, launch strategies and other crucial business aspects, GamesPad provides everything game entrepreneurs need for a successful launch.
The platform allows retail buyers to invest in only high-quality early-stage GameFi projects. On top of that, it also performs rigorous due diligence on all the gaming projects to minimize investment risks for its users.
For this exciting journey to continue to thrive, GameFi projects need new technologies, protocols, companies, innovations and discoveries. With GamesPad, a one-stop-shop for GameFi, metaverse and NFTeverything is possible. Video games developers and creators will be able to engage with their audiences, tell great stories about their brands and grow and develop and make profits.
Transforming video games through the innovation of the metaverse is only an early-stage endeavor right now. But soon, we will more fully understand how the metaverse has changed the GameFi industry and will continue to explore that expansion more over time. However, one thing is certainthe future for the video gaming industry is bright, exciting and the exploration of a whole new universe.
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