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GameFi, SocialFi, & Real World Assets
In 2022, GameFi was a large trend, but it has not reached its potential mainly because of the excessive predominance of games with mechanics and game-based economy models akin to the “musical chairs" game or the excessive minting of reward tokens for participating in certain activities in games. However, a new wave of interest in this sector is expected. There will be other game mechanics and other forms of project monetization and the “earning” aspect for users.
The GTON has started active work in three areas:
- Co-developing a learn2earn blockchain game that will be announced at the beginning of Q4 and will launch tentatively in November.
- Planning to give away small grants to teams of third party game developers, in particular games based on prediction markets, one of which will be introduced immediately after the mainnet release.
- Launching the “partnership machine” to attract successful games from Ethereum, Polygon and BSC to release their versions on GTON Rollup.
SocialFi is the market of DAOs and NFT communities. In this area, the GTON team is developing a NFT marketplace and basic infrastructure in the form of a DEX and a Multisig protocol, as well as cooperating with DAO tooling developers.
RWA (Real World Assets) is an interesting trend that has occurred in recent years in the cryptocurrency and web3 industry. It is worth noting that it was USDT, USDC or BUSD that made a key contribution to the fact that millions of people can now use the popular blockchain networks. The application of the RWA concept resulted in the revolution of fiat stablecoins, which now hold much of the capital and transaction volumes. The new wave will involve tokenized commodities: gold and other metals, food crops, oil and other tangible assets such as cars or residential real estate. These are assets that have real utility and rarity, being connected to the global economy, and therefore will always have value that differs from the purely speculative one, in contrast with most crypto assets. Ultimately, web3 can automate and optimize the global economy and create global services for all kinds of assets and transactions. RWA is not limited to tokenization of goods, but can also facilitate implementing web3 mechanics for services that already form the basis of the IT economy: rental markets, B2B franchises, product marketplaces and ads. Through NFTs, users can tokenize goods, commercial and residential rentals and real estate itself, rental cars, scooters or computers: all huge markets in which web3 technology could lead a new revolution, as web1 and web2 did in the recent past.
Focusing on GameFi, SocialFi, and Real World Assets gives us the opportunity to grow from the bottom up, creating services and products that work with real people, not bots. It is the focus on users that determines the success in capitalization growth, community building, and brand awareness.