Unique GameFi Trends that Will Shape the Future of Gaming in 2023

Jay Crypto

Blogger

Unless we personally experience a technological trend, we may not particularly take interest in it. Having said that, the worldwide gaming sector, which has a revenue of more than $200 billion, is where this manifestation is most readily seen. You gradually become aware that you have already adopted the ideas as you engage in cutting-edge VR games or spend hours in an addicting metaverse. Or is this insight still to come?

Evolution of the Gaming Industry

For the gaming industry to thrive, technological evolution is inevitable. In 2022, we have seen the evolution of several new technologies like Blockchain and the idea of integrating games with finance, Gamefi. Are you thinking about what will be the next big thing in the gaming sector? Bear with us as we explore the unique GameFi trends that will shape the future of gaming in 2023. 

What is GameFi?

The term "GameFi" refers to the fusion of games and finances in a framework where non-fungible tokens (NFTs), smart contracts, and the blockchain are used.

It is sometimes described as the meeting point of play-to-earn (P2E) blockchain gaming and decentralized finance (DeFi), resulting in a self-serving economy that extends above games and shifts power away from game companies and toward gamers.

   GameFi Investments

According to DappRadar, Investment in the GameFi sector increased to a whopping $4 billion in 2021 from $80 million in 2020. As the above picture shows, the investment in the GameFi sector has already doubled, and we are a month away from the end of 2022.  Let’s explore what will be the GameFi trends in 2023. 

GameFi Trends that Will Shape the Future of Gaming in 2023

GameFi has undergone tremendous growth in previous years, as we have seen in the above statistics. Without wasting any time, let’s jump straight into GameFi trends that will shape the future of gaming in 2023. 

Metaverse Gaming

The metaverse is a shared virtual environment in which users can communicate with one another using digital items like avatars.

These may not only be gaming systems but also completely social ones where users may interact, go to events, purchase virtual goods, etc. Numerous tech companies have noticed how the Fortnite festivals have raised awareness of the perspective of the metaverse to offer a variety of opportunities beyond simple entertainment. 

Multinational brands like Microsoft and Meta have plans to boost the metaverse's capacities in the long term and bring them on a scale with the physical realm. Interactive virtual solutions and online conferences with user online representations are now commonplace. While the metaverses are still in their infancy, it is apparent that they will develop along with the advancement of VR, AR, and AI to offer a distinctive real-time virtual experience to a sizable portion of the global population.

Metaverse Games

Metaverse games will leverage blockchain technology to make gaming immersive, engaging, and more secure than ever before. Gaming firms are already investing in the metaverse development, and early adopters always get an upper hand. 

Cloud Gaming

Is cloud service the latest tech in gaming? Obviously not. G-cluster first unveiled the concept at the E3 conference in 2000.

Is cloud gaming here to stay? Yes, of course. It protects less expensive hardware, conserves system memory, and brings joy to those for whom a desktop Workstation or PlayStation is a previously unheard-of luxury. Cloud gaming was created to give customers the immediate opportunity to play games across computers without lag time. 

The cloud provides all the computing power required to operate the games, allowing the users to genuinely enjoy a cutting-edge service on their underpowered PC. In normal conditions that PC wouldn't even come close to carrying the weight of such games.

Cloud Gaming Firms

The industry for cloud gaming was estimated to be worth $470 million in 2020 and is predicted to grow at a CAGR of 48.2% to $8.17 billion by 2025. Virtually all of the top game developers and publishers now sell their titles through paid cloud computing.   The primary requirement is a minimum Broadband connection of 10 Mbps. Additionally, pricey and power-hungry equipment will continue to be a luxury for connoisseurs.

Blockchain and P2E Gaming

Even though interest in blockchain and P2E gaming has slowed, it can't be ignored. The entire amount of NFT artwork sales from August 2021 and February 2022 was around $1.7 million. In contrast to the majority of game makers, Ubisoft and Square Enix have chosen to implement NFT into their strategies.

Source: DappRadar

As NFTs are an essential part of P2E games, the interest will continue to dominate the gaming industry. From the success of Axie Infinity to the contemplative virtual world of The Sandbox that enables you to develop digital goods, the popularity of play-to-earn video games is still going strong. These games, which frequently don't need sophisticated technology, particularly appeal to people living in less developed nations. Individuals find a way to make money by playing video games. 

Indie Games 

Games developed independently by a small group of programmers are known as indie games. Indie games can occasionally be created by just one developer. A highly saturated industry of unending repetitive AAA clones without anything to contribute but next-gen visuals is where independent gamers are a refreshing change. 

     Indie Game Examples

Indie Games have no help from big publishers.  Games like Stardew Valley, Cuphead, Hollow Knight, and finally Minecraft have shown that the gaming market is still susceptible to change. The independent gaming scene is constantly growing alongside the polished AAA brands, and every so often it erupts with an amazing game that leaves gamers in awe. These indie games can see a boom once again in 2023. 

All players can build their new games and interact with those made by others using Roblox, a digital gaming network and game development system. The platform, which was first intended to get kids involved in game development, is now far more popular among adults. The Roblox platform helps ambitious game developers receive feedback rapidly and enhance their creations.

Remakes of Old Games

It's difficult to ignore the steady stream of video game sequels that are rekindling enthusiasm in classic old games. A reboot is an effort to reimagine an already-existing game by constructing a new game with some notable differences while keeping the main narrative and essential gameplay mechanics.

Character Remakes Example

Among the top ten best-selling relaunched games of 2020 was Naughty Dog's rerelease of the venerable Crash Bandicoot. The same year's release of the Final Fantasy VII remake also saw success. The video game industry got to work after realizing how well sequels and relaunches were performing. 

For several companies, who have started to routinely design and produce remakes, the urge to provide memories to fans of old games packed in contemporary visuals has taken precedence. This tendency will undoubtedly last for a few more years. 

Conclusion 

We have covered almost every GameFi trend that can change the shape of gaming in 2023. Not everything we've covered pertains to new game technology for 2023. Some innovations merely keep evolving in new versions and shapes even when we already know about them. Additionally, several technological developments in the gaming business, such as metaverses, are still in the early stages of development, making it difficult to foresee precisely how they will grow.