GameFi & The Gaming Industry
The global gaming market is a highly lucrative industry, with an estimated revenue of $203 billion in 2022 and over 2.7 billion active gamers worldwide. The market is expected to continue growing in the foreseeable future, with projections showing a clear upward trend.
Mobile gaming, in particular, is estimated to account for a significant portion of the market, with over 52% of the global gaming market and a projected revenue of $105 billion in 2022.
These factors make targeting mobile gamers a strategic decision for long-term success and growth in the industry. Additionally, focusing on both mobile and desktop/PC users is an optimal approach to reach the widest possible audience.
An NFT (Non-Fungible Token), simply put, is digital proof of item ownership.
Despite the recent reduction in interest surrounding NFTs following the monumental up-rise in 2021, WAGMI Games believes that NFTs are here to stay and their true power lies in utility.
(i) - In 2021, the NFT market generated over $23 billion in trading volume.
However, WAGMI Games recognizes that the term “NFT” may not be familiar to many gamers, especially those who are not familiar with the crypto industry.
To address this, the team will focus on educating players on the concept of in-game item ownership and will refer to NFTs as “in-game items” or "digital collectibles". To this end, the team will be creating a co-branded educational series alongside Immutable-X & GameStop as part of the company's strategy.
By teaching players that they have the power to own, trade, rent, and sell their in-game collectibles, WAGMI Games aims to provide not only gamers but also content creators and streamers with a unique and valuable experience.