# 2.1 Overview of the current GameFi market

Regarding blockchain games, the first thing that may come to mind is the collection and trading games represented by Cryptokitties in 2017, which combined the "transaction attributes" and "the only private characteristics of assets" of the blockchain with gameplay. On December 9, 2017, the number of active users in a single day was 14,000+, which once caused Ethereum transaction congestion. Since then, more and more chain games have appeared, and the game content has also diversified.

As of April 2022, data from DappRadar shows that more than 1,000 game Dapps have been deployed online, with peak users reaching millions and an average daily transaction volume of more than $40 million.

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According to Nansen, the development of blockchain games can be roughly divided into four stages.

Stage1: The market is dominated by innovative and innovative NFTs mini-games and development-type mini-games. The game attributes are not strong, but this opens up the market for chain games. Stage2: PC games and mobile games with Play-to-Earn and NFTs as the main highlights and attributes. This type of chain game has certain game attributes. Compared with traditional games, the playability is insufficient, and the development difficulty and cycle are shorter. It pays more attention to the value of its assets rather than the gameplay. Due to its short development cycle, a variety of small games of mixed quality and bad quickly seize the market. Stage3: On the basis of the second stage, higher-quality game products were developed at almost the same time. It is also an independent game team with blockchain as the main background, but compared with the second stage, there are more With the addition of the solo team and members, the overall game quality has been greatly improved. A small number of traditional game players with a curious mentality are attracted by relatively high-quality games and join the player group of ChainGames, and ChainGames has gradually entered the public eye. Stage4: the entry of higher-quality 3A game manufacturers, or will develop new high-quality chain games, or add blockchain technology or elements to its original ecological chain, NFTs and Play-to-earn become games Normal property.

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At present, the GameFi market is between the second and third stages. At the same time, many 3A manufacturers are also trying to do this. However, there are few mature products in the GameFi market, and the main products are play-to-earn. The game is mainly based on games, and the quality of the game is uneven, and the overall quality is not ideal. Thousands of players who have already entered the market have raised the chain game market with one hand. As players continue to join, the requirements for game quality will become higher and higher. At the same time, the original game players are willing to pay for game products and content. These players are more likely to accept the P2E logic of chain games. In the future, with the development and popularization of blockchain technology, more traditional game manufacturers will join in, bringing more Diversifying high-quality games will also bring more traditional players to the blockchain market. From an optimistic point of view, the professional development of chain games and the entry of 3A game manufacturers will bring in a large number of fresh blockchain blood. We look forward to seeing games become a bridge between centralization and decentralization.
