Gaming has been one of the fastest growing areas of entertainment, surpassing Hollywood.this $200 billion For decades, industry has dominated, unifying more than 40% of the world’s population. However, the nascent GameFi segment is bringing about a huge shift in the gaming business.
GameFi utilizes blockchain technology that has recently changed the course of gaming history. This online gaming paradigm takes on new meaning while also providing gamers with an interactive gaming experience. Also, with the advent of NFTs and the metaverse, it is evolving into something more powerful and exciting, SocialFi.
SocialFi combines social and financial. Blockchain solutions such as cryptography and NFTs power the new socio-economy. Creators can directly monetize their social impact.
From Fun to Money: Game Evolution
Video games have been around since the early 1970s. The advent of consoles was the first major development in the field. However, with the debut of the Sega Dreamcast, significant technical improvements have occurred. This is the first major development in the field.
The original purpose of the game was to allow friends and family to spend quality time together. However, with the introduction of Internet gaming, gamers have shifted from playing games to improving their competitiveness on a global scale. This spawned some of the earliest esports leagues.
Then came the smartphone that disrupted the gaming industry. The ease of use of smartphones has changed the way we do many things, including gaming.The boom is so significant that mobile gaming now accounts for 52% Global Gaming Market.
We’ve reached the latest iteration of the game. Play-to-Earn games are a hybrid of gaming and blockchain technology. They allow players to gain real-world value through cryptocurrencies. Axie Infinity is a prime example.it got a $3 billion Valuation in the short term.
SocialFi is the new GameFi
GameFi is growing rapidly.Its market value has risen to $55.38 billion As of February 2022. It is also expected to grow tenfold over traditional games by 2025.
However, the trend is gradually shifting from GameFi to a more efficient model – SocialFi. The relevance of social networking in today’s world and the engagement aspect of GameFi form the basis of this new paradigm.
Emerging decentralized social networks with DeFi capabilities offer users enormous flexibility and benefits. With features such as strong data privacy, transparency, and fair monetization, SocialFi has proven its worth as an effective model in the blockchain space. Using digital assets such as NFTs to incentivize users in the best possible way becomes more promising for end users in the long run.
While many projects offer a variety of different SocialFis, only some successfully and robustly combine GameFi and SocialFi. Superhero NFT War is one of them. It is one of three SocialFi projects building a unified infrastructure to connect NFT-oriented communities through platform-level social services. As such, it integrates social media, cross-IP engagement, community building, and value creation under one hood.
While primarily focused on building the SocialFi landscape, the project also has a variety of other features, including a staking desk, central IDO marketplace, NFT trading front desk, nightclub ballroom, and more. In addition, SNW will also have a marketplace for users to buy and buy. Trade their NFTs. In addition to this, SNW’s social metaspace will host social events to explore aspects of community engagement.
The platform will launch its collection of NFTs – SNW-CB and SNW-X. The goal is to create an industry-first Tier 0 social tool in the form of a removable and evolveable membership pass. NFT utilities include unique avatars in the metaspace, exclusive Discord access, and $SNW token airdrops. Additionally, owning these NFTs will be able to participate in game development and vote on the game’s DAO governance.
The future of SocialFi
While the SocialFi platform is still in its early stages, special efforts are already showing great promise. For example, as mentioned above, Superhero NFT Wars is leading some real innovation in the space through its metaspace.
We might think of SocialFi 2022 as the DeFi summer of 2020. So now is just the time for users to switch from Twitter and Instagram to the blockchain-powered SocialFi platform.