GameFi for Investors and Developers in Q3, 2022: GetBlock's Review
dramatic mayhem on crypto markets, early-stage teams badly need battle-tested
low-cost infrastructure for their products
After an euphoria of 2021, the segment of GameFi or Play-to-Earn ecosystems is going to face tough days. Why was it bound to happen - and how GetBlock nodes can help GameFis survive when there’s blood on the streets?
GameFi in Crypto Winter: reduced budgets, hiring freeze, new opportunities
As Bitcoin, Ethereum and major altcoins dropped to Q4, 2020 lows, the segment of on-chain games (GameFi, Play-to-Earn) seems to be among the worst sufferers of the ongoing carnage.
Iconic GameFi tokens lost over 90% of their capitalization in the last six months. For instance, AXS is 91 percent down from ATH while GALA is 93 percent down. Smooth Love Potion (SLP) tokens of Axie Infinity lost 99.1 % of its value over the last six months.
Actually, this was quite predictable: the tokenomical design of leading GameFi ecosystems was too vulnerable. As exposed by Bloomberg columnists, Axie Infinity tokenomics was sustainable only amidst the rocketing number of users it saw in Q2-Q3, 2021. Even major Play-to-Earn protocols relied on Ponzi-like elements of tokenomics.
As such, all GameFis should adjust their business models to new normal without eight-digit seed rounds and hundreds of thousands players.
Largely, the teams should address new issues with old instruments, i.e. by reducing headcount, re-considering expenses and switching to ‘serious’ business models.
How GetBlock nodes can help
GetBlock, a veteran Blockchain-as-a-Service (BaaS) provider is ready to support GameFis when markets are plunging. First of all, its nodes stack includes API endpoints to 40+ blockchains so that all GetBlock’s clients can make their businesses flexible and adjusted for pivots. GetBlock can also roll-out nodes by request even if the desired blockchain hasn’t been added yet.
GetBlock can outsource many technical development and consulting roles: by purchasing its expertise instead of on-boarding new staff employees, teams can save money amidst hiring freeze.
Last but not least, GetBlock’s nodes stack remains amongst the most resource-efficient on the market: early-stage teams can experiment with free tariffs while paid plans start from as low as $6.