We are waiting for the next bull run to happen. We all know how good was our previous bull run. There is a similar expectation on the market and many investors are now waiting to see a new all-time high for cryptocurrencies and that will in turn bring more opportunities and investors. People would like to see some solid use cases in cryptocurrencies and the blockchain world so that they can invest their money in this. Game development is still a hot thing in the crypto industry.
After the last bull run, it slowed down a little but I don't think it will ever stop. It might get even better because many companies and gaming individuals have now seen the pros and cons and have all experimented with many things now. The future in the gaming world would be better with crypto because they know where to exactly use them and how to make efficient use of them.
Game development to moon cryptocurrencies
The next biggest thing in the crypto world is game development and game integration. One of the biggest advantages that blockchain technology gives us is that we can create our cryptocurrency and use it in our game concept. It is more like an internal asset in the game but it is also tradable among the players and that is what makes it very interesting for the players.
All the new games that emerge in the future might have a small integration with blockchain and might as well have their cryptocurrencies to make it unique and tradable. The advantage that people get with cryptocurrencies is that they can trade them with others or exchange them for valuables inside the game. Usually, people used to spend their own money to buy stuff inside the game but with the help of cryptocurrencies, people can spend their time earning cryptocurrencies or tokens in the game and use them to grow better inside the game.
What did we learn from the last bull market?
The first interesting thing that we learned from the last bull run was the fact that there is a huge demand for NFTs and if it is used in games, it can create a good market and many people are interested. One of the other important lessons that game developers learned with blockchain is that this technology can be used for asset management inside the game but to not have the entire game itself working on blockchain. The problem with this approach is that it creates a lot of spam on the blockchain and accessing the data is also another challenge. About all these things some blockchains like Hive have 3 seconds delay between one block and another block and this is very slow for a game experience. After all these experiments, the game developers are now working on developing the game with the help of blockchain technology but not completely on top of blockchain itself.
In the previous bull run people blindly bought NFTs and other game-related assets thinking that they were early to this game. Of course, they were early to the game but many people lost their money on bad investments or games that made promises but did not deliver. There are still a few games that are still hanging around and are trying to deliver games in the future. Identifying game developers is also another big challenge and paying them is another challenge. Hopefully, the new bull market should bring a lot of money and a lot of opportunities for investors and the gaming industry.
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This NFT juicing is here to stay, and this year I am sure we will see new projects emerging both outside and inside the HIVE network.
Greetings to you partner
NFT will start having a meaningful use case I believe.
I know there’s a huge demand for NFTs but I get scared and that’s because the ones I’ve invested in have been rugged so many times
I’d try to invest again though
Yeah many NFTs rugged.
The Nft world is really fast developing and actually growing and that is really what I actually love that is happening
One thing is for certain. The bull run is going to bring a lot of activities on board. A lot of those building games in the background will start revealing what they have been working on.
Yes many projects will start getting more funding.
The last bull market offered crucial insights into the rapid growing convergence of NFTs and gaming. It highlighted the significant demand for NFTs, especially within gaming contexts, and underscored the potential for blockchain technology in asset management.
As we look to the next bull market, there's optimism that it will bring new opportunities and funding, potentially driving innovation and delivering on past promises.
Last bull run helped NFT people test the waters. Next bull run will give the actual use case.
You're right ! It's time to see if the grass is greener at the other side.