Some may call it a revolutionary new age game, others may call it still a dumb game, but GameFi is already the dominant concept in the crypto market.

  What was the gaming industry like before blockchain?

  Let's take a look at where the game industry fits into today's economy, how it worked before NFT became widely available, and what needs to be improved.

  The online game industry can now be regarded as one of the national pillars of a country. The development of online games determines whether a country can promote the development of modernization and capitalist economic process. In the prevalent stage of market economy, the development of national interests has been inseparable from the rich interests of the online game industry. The development of online games affects the interest development of e-sports platform, which in turn affects the national economic development. And on a data knowledge service platform in China, the number of research papers on the game industry alone has reached nearly 5,000, most of which were published after 2010. Only from the academic community in recent years to the game industry to improve the degree of attention, we can also see the game industry in today's economic society's increasing importance.

  So how is the game industry doing in terms of actual production and consumption? According to data compiled and released by The Forward-looking Industry Research Institute, the global gaming market grew at a compound growth rate (CAGR) of 13.4% between 2015 and 2021, reaching $191 billion in 2021. Hardware supply issues remain for home consoles and PCS. In addition, delayed releases and inflation will also affect the market performance, which is expected to decline in 2022 but continue to grow over the next few years. (Data from Ampere Analysis)

In addition, according to Newzoo's recent Global Gaming Market Report 2021, the global gamer population is now approaching 3 billion, and the number of gamers continues to grow for reasons well known since 2020. In addition to the number of game players continue to grow, in recent years in the game industry is quietly change is happening, gamers recreation leisure way is becoming more and more complicated, which objectively put forward higher requirements on the game industry producers, but conversely, undoubtedly provides a perfect curve GameFi overtaking opportunities.

As anyone who knows anything about the game industry will know, the current game market participants present a clear binary structure -- upstream producers and end consumers, and the two have an insurmountable gap in the distribution of profits. In particular, the upstream producers mainly include game developers and other IP owners, game publishers, games, distribution channels, etc., some market participants multiple roles in the industry value chain, and in some cases at the same time involved in game development, distribution and distribution link, they dominated the game industry development, It's also responsible for the vast majority of the industry's profits, and it's the consumers at the end of the spectrum, the three billion gamers, who provide the industry with a steady stream of cash, and on the other hand, For the most part, it's hard to have real ownership over accounts, equipment items, and other means of production that you spend time and money on in a game, which is hardly fair. This is the first and most important problem GameFi and NFT have to solve.

  NFT helped GameFi revolutionize the game industry

  As the global situation is gradually improving, people began to really feel the whole world in this more than a year since the change, the most prominent is, as during the online communication more and more penetrated into every corner of our daily life and work, let us surprised to find the original in the real world many things originally need offline access, In fact, it can be solved well through online means. There seems to be no clear boundary between reality and virtual world. Within the crypto market, a central reflection of this change is the rise of the metasverse and GameFi.

  More importantly, once this trend starts, it becomes irreversible to a certain extent, because the meaning of games changes in the process. From what we've seen so far, games have evolved from being purely entertainment to being both entertainment and social. As the game scene brought GameFi more three-dimensional and personalized, digital virtual characters is becoming people express themselves, an important part of personality, at the same time of subjectivity from the dimension of this also can help us better understand why NFT head can continuously exceed people's normal cognition, refresh record. Both GameFi and NFT avatar have gained popularity in the crypto market recently, which is essentially the extension of the unique personalized social needs in the real society.

  Let's focus on GameFi again. In the previous article, we mentioned the ongoing conflict between game producers and consumers in the current game industry. How does GameFi solve this problem? NFT plays an important role in this process. With the help of NFT, every game prop acquired by players in the game has a unique, non-counterfeit, irrevocable "identity authentication", which greatly facilitates the players to their own props, equipment confirmation process. In other words, with NFT as GameFi's underlying technology, players will be able to control the full ownership and disposal of their game items, and hopefully even transfer from one game to another.

  conclusion

  At present, Internet industry pioneers, including the crypto market, have paid unprecedented attention to the metasomes. Although we cannot describe a clear metasomes scene, it is certain that GameFi, DeFi, Web3.0 and many other elements will be an important part of the future metasomes. Therefore, the future integration of NFT and GameFi will most likely create a positive cycle, forming an upward spiral of "because good, so better".

P12, as an infrastructure project in the GameFi domain, is at an early stage. P12 badge NFT is a great asset to the P12 community. Community members can participate in various Discord hosted events to earn P12 badge rewards. P12 badges also get you bonus tokens on trands airdrop invitations. The rarer badges were designed to reward outstanding contributors, and a total of 565,000 users verified their Steam accounts, reflecting P12's booming growth.