NFT News Official TheBitTimes.com

First-gen blockchain games prioritized crypto-earning over gameplay, leading to an unsustainable growth model. Now, a Web3 gaming platform is about to change that. Many first-generation blockchain games were more concerned with crypto-earning than providing a great gaming experience. In contrast, Gala Games, a blockchain gaming platform with a proven history in the Web3 space, prioritizes fun and aims to address concerns about GameFi adoption. Decentralized gaming, better known as GameFi, has been quickly identified as one of the clear use cases for blockchain technology that has yet to see mass adoption. However, while the benefits of GameFi, like greater control and offering tangible rewards, have been well marketed, most gaming is still done on a centralized platform. To put things in perspective, Fortune Business Insights estimates that the global gaming market size was valued at $249.55 billion in 2022 and will grow from $281.77 billion in 2023 to $665.77 billion by 2030. In ...

With the start of a new year, the crypto market is bracing itself for the unknown. What are the main challenges and goals? If 2022 was any kind of template for gauging what the crypto market might offer for investors going forward, it proved to be terribly difficult to predict. The space saw a brutal shock to the global crypto market capitalization, which fell just over 60% from $2.2 trillion to about $797 billion year to date. It also saw the two largest cryptocurrencies by market cap, BTC and ETH, fall by 64% and 67%, respectively, during the same time frame, with the concurrent slide in the alt market too. These price drops, combined with the demise of the FTX exchange, were not events that many, if any, foresaw. Furthermore, the fallout from the FTX debacle is not yet over, given that some crypto projects and venture funds have retained treasury accounts on the exchange. That said, if 2022 was indeed messy, then 2023 has to offer something more positive, but growth is likely to be...

From creating e-sports competitions with huge prize pools to making game tokens more relevant to holders, members of the community share their thoughts on GameFi. As the GameFi space continues its journey to attract gamers to a new gaming paradigm, community members shared their takes on what they think a mature GameFi project needs to succeed.  From creating e-sports competitions with huge prize pools to making the game tokens more relevant for the token holders, GameFi community members shared their takes on what the space needs. One Reddit user suggested that GameFi projects need to appeal to several target audiences. This includes whales who will provide funding, earners who are mostly kids and people from developing countries and those who play for fun that will leave good reviews for the game. Another community member pointed out the need to improve the reputation of the space. According to the Redditor, there are some that consider GameFi a scam and this needs to be changed. ...