TheCryptoUpdates
BusinessFinanceGameGame NewsMetaverseNewsNFTNft newsVirtual RealityWeb 3.0

2022 will bring about a huge turning point for NFTs: is it still true?

2022 will bring about a huge turning point for NFTs: is it still true?

The second quarter of 2022 does not seem to work for the crypto world as almost all the leading coins in the blockchain market took a hefty plummet. This affected not only the value of the cryptocurrencies alone but also every crypto-driven asset.

The year 2022 was supposed to be a watershed moment for the NFT industry; instead, the crypto market is already in turmoil. With all the tension and agility going around in the market, is the future of NFTs at stake?

Are NFT games for real or just a fantasy?

Axi-Infinity and other play-to-earn were once expected to be glorious for non-fungible tokens. In spite of the prevailing apprehension with regard to the blockchain industry, we cannot ignore the fact that the gaming industry will drastically change because of the NFT projects.

The reason why these NFT concepts could boom is that they not only target the world of entertainment but play along with the financial factors.

However, the current situation is a bit questionable as the information received from Coinbase suggests that the average number of users of Axi-Infinity sees a downside rally without any hint of change in the scenario.

Change is expected in the play-to-earn scenario after the crypto blow

As the launch of Axi-Infinity didn’t go as planned, there might be a slight change in the scenario of play-to-earn. The team is putting in a great deal of effort in order to balance out the huge economic burden that was imposed on gaming.

Sky Mavis stated that they currently want to “sell the fun” of NFT gaming instead of focusing on bringing about a whole new dimension into the gaming world and attaching it to the economy. The shift in the company’s vision has now raised many questions in the minds of the NFT followers.

As the focus of NFT gaming shifts from being economical to pertaining to entertainment, the future of NFT becomes unpredictable now. The situation is such that it has become almost impossible for one to predict whether NFT games will happen or not.

GameFi is no longer the only thing that matters in the world of non-fungible tokens. The industry is diversifying its use in various cases.

Meta –the major Tech Giant of the era is working on instilling functionalities of NFT in both Instagram and Facebook. Zuckerberg recently stated that their goal is to build the next-gen Internet World –Metaverse.

***

Related Articles

Shiba Inu Can Now Be Used To Shop On Amazon And Subscribe Netflix

Mridul Srivastava

Vinetree Corporation Launches a blockchain Gaming Platform

Event Manager

MEME COINS THAT ARE GOING TO TAKE OFF IN 2022: MEHRACKI (MKI), DOGECOIN (DOGE), AND SHIBA INU (SHIB)

Yashi