Is it true that NFT games are not popular these days? This article will explain the causes and reasons. Games are one of the most popular NFTs. Many companies have entered the NFT market, and it is expected that it will continue to become popular, but there are quite a few people who argue that it will never become popular. What is the reason?
Are NFT games not popular?
The main reasons why it is argued that NFTs, which are currently attracting attention, are not popular are as follows. Please refer to the information below to get started. Currently, we are in an environment where it is easy to earn a lot of money, but the situation will change in the future. Current mechanisms, blockchain, wallets, metaverse technologies, etc. change with the times. The situation is different between the early days, such as 2022, and now because the value and cost will change. Please check the management website and website for important development information.
lack of legislation
One of the reasons why NFTs have not become widespread is the lack of legal frameworks. There is no legal framework for NFTs, and those who actually invest in them are not protected under the law. NFT scams are quite common these days, so you must invest at your own risk no matter what. Domestic laws exist, and if they become stricter, it will become difficult to develop your business. Although the first movers themselves have generated large profits, there is a possibility that they will become completely obsolete in the future.
high threshold
It is said that NFTs are difficult to get started with. The reason is that you need to know about virtual currency and NFT. Most of the general public does not know these things. In order to lower the barrier to entry for NFTs, it is necessary to raise awareness of virtual currencies. Since there are still many new users, there are many who do not really understand each function and how to use it. Currently, there are many people who are getting involved because it is a new topic. Some people enter the market with high expectations but end up leaving the market without making any money.
balance of supply and demand
NFT is an emerging industry, and the balance between supply and demand is disrupted. There are very few buyers of NFTs, and the demand for NFTs is not very high. Perhaps because of this, the balance is out of balance, so we need to increase the demand side. For users who aim to collect your work, you will need to come up with ways to solve the problems of users, such as character designs and images that are easy to get used to, such as icons.
possibility of loss
NFT is both a business and an investment. There is a possibility of losing money when investing, so many people don’t invest because they don’t want to face the consequences. Also, since NFTs are influenced by virtual currencies, many people dislike highly liquid virtual currencies. If you are a regular person, an influencer, or a company, be sure to check their profile before making a purchase. Frankly speaking, actions by users without knowledge can be dangerous depending on the content.
Why NFT games are so popular
It is said that NFT games will become popular in the future. The reasons for this are as follows. Many new projects are launched every day, but in order to avoid failure, it is basically necessary to gather market information and conduct thorough research. People who want to earn more and more money over a long period of time tend to absorb information from content such as YouTube and news. This is also a tip for catching trends and increasing profits.
market growth
Looking at the data, the NFT market suddenly expanded explosively in some parts from around 2020. The number of NFT purchases has increased, and the global NFT transaction value has tripled in one year, from $24.5 million in 2019 to $82.5 million in 2020. And in 2021, $17.6 billion is enough growth. It was said that if things continued like this, it would become a huge market. It was said that it would explode in 2022. However, in conclusion, the existing predictions were wrong.
| 2019 | $24.5 million |
| 2020 | $82.5 million |
| 2021 | $17.69 billion |
Source : 調査結果 (caa.go.jp)
However, the trading volume of NFTs has decreased since mid-2021. It is said that the NFT bubble has burst due to the rapid expansion of NFTs. We should keep an eye on whether they can grow from here. Although there are benefits, in recent years there has been an increase in damage such as hacking, and countermeasures are needed for services.
new gaming experience
Game geeks are always looking for new games. It is said that NFT games will never decline because they offer new gaming experiences. It is said that it is unlikely that curious gamers will leave this market because they can enjoy new gaming experiences. Users are constantly adding new games and need to check out videos and photos from the official website.
Large companies enter
Recently, large companies have been entering the NFT game. Companies such as Square Enix and Sony are entering the NFT market one after another. With large companies entering NFT games, it is said that the market will become more active in the future. Some companies also publish image characters and digital data content on their official websites.
NFT has many uses
NFTs have many uses. After purchasing the exhibited characters, goods, and images, you can resell them or use them as a hobby. It is said that NFTs will become popular in the future as their uses will continue to expand. Some places are starting to handle it, such as Opensea, and the number of users using Metamask, etc. to transfer funds is also increasing. If you are interested, first register on an exchange and take a look. Each project also has a community where you can exchange information.
Bybit’s NFT Marketplace
Bybit has an NFT marketplace. Once you open an account, you can actually enter and trade, so let’s give it a try. Since it is a new market, the selling price is highly liquid and there are risks, so it is difficult. However, there is a lot of buying and selling of items, so it is recommended. Token information can be easily collected from SNS (X, twitter), official website, etc.
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