Too Long; Didn't Read
Web3 gaming has emerged from the broader cryptocurrency and blockchain experiment as an industry unto itself, threatening to become a ‘new Silicon Valley’ for investors. The global blockchain gaming market is now estimated to be worth around $21 billion. Despite the apparent problems with the blockchain gaming space, the wealth of venture capital funding the GameFi space has received over the course of the past year would suggest it has the potential to grow into something more. Developers are being hit with the pay-to-play stick from two different directions, emulating the worst aspects of the mainstream gaming space.