Coinbase Ventures Says This Sector Will Be Massive Category That Onboards Next Wave of Crypto Users

The venture capital arm of Coinbase, the top US cryptocurrency exchange, predicts that one sector of the digital asset market is on track to become a huge industry driver.

In the latest Q2 summary and market outlook updates, Coinbase Ventures To tell Its popular blockchain-based game, Axie Infinity (AXS), set a precedent for what the crypto sector can achieve, despite denialists.

“Anyway, Axie recorded nearly $ 1 billion in sales per month and attracted 2 million active users per day with virtually zero marketing budget. This makes the entire game world this. I have come to realize the power of the new vertical.

With an estimated 3.2 billion gamers worldwide, we are confident that Web3 games will be on the wave of the next big crypto users. Web3 games continued to be heavily invested in the second quarter, with The Block estimating that it has raised more than $ 2.6 billion. Our work over the last few quarters only strengthens our beliefs. “

Venture capitalists say the sector is already showing strong growth as more competitive founders emerge to build crypto subsectors.

Coinbase Ventures gives some examples of the names that have received the most attention in the gaming industry, saying that blockchain-based games will be a “large category.”

“As we saw in the first quarter, founders with a strong track record in Web 2 games continue to embrace this category. For example, Azra Games is the creator of the $ 1.4 billion mobile blockbuster Star Wars Galaxy Heroes. Founded by. Their goal is to build combat RPG games with a powerful in-game economy that can still gain mainstream appeal. This space is Justin, co-founder of the game streaming platform Twitch. Kan also fascinated and sold to Amazon for $ 1 billion. Kan’s new company Fractal is building a market for NFT [non-fungible token] Game assets.

Companies like Venly add fuel to the fire with a set of tools that enable Web2 game developers to seamlessly leap into Web3. Fortnite creator Epic Games is now able to bring NFT-based games to the game store, and established gaming powers are beginning to emerge.

It will take some time for this sector to mature, but it is becoming increasingly clear that blockchain games will become a large category in the future. Expect more attention to sustainable economics and gameplay to bring a more familiar Web 2 gaming experience to NFTs. “

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