Gamers and enthusiasts of metaverse platforms are the key demographic for crypto. Many millennials and Gen Z represent these audiences. Both generations are preparing to become the most important group for any market-middle-aged spenders.
While many technology experts are laughing at Meta and its failing stocks, Mark Zuckerberg is determined to continue pushing the idea of “VR” to the masses.
The Meta corporation will be focusing solely on releasing an affordable VR headset to ensure that they are dominating this market. It is interesting that other VC firms and tech companies are also leaning toward this trend even if they find the overzealousness of Meta amusing.
Statistics paint an intriguing picture
A study conducted by Huobi Research indicates that the biggest winners of the industry were projects in GameFi and Metaverse. Investors are betting big on pay-to-earn projects and virtual reality platforms that can be game changers in the nearest future.
Yat Siu, the CEO of Animoca Brands, believes that GameFi is the future for metaverse development and the general direction of this sector of the crypto industry.
DeFi projects can only envy the size of investments metaverse and GameFi companies received in 2022. The total volume of investments in these sectors was close to $2.4 billion which is 140% more compared to 2021.
Experts predict that the value of the GameFi sector by 2028 will be close to $2.8 billion. Right now, Animoca Brands has an investment fund that will provide financing to companies developing games, gaming solutions, and metaverses. The fund has $1 billion which it plans to spend within the next six years.
Even Meta’s failed attempts at drawing attention are something temporary. Zuckerberg’s company is still privately owned, and the price of the stock won’t affect the course of the tech giant as long as its leader is not stepping down.
Metaverse projects may lead the crypto industry in 2023
The web3 sector draws more attention each month, with users slowly opening up to new concepts and using them regularly.
GameFi and metaverses are foreign concepts to most people now, but it may very well change in a couple of months with the release of multiple interesting gaming platforms offering unique entertainment options for crypto users.