Defi Kingdoms, which is a metaverse-based Blockchain Game, is experiencing a recent surge in its activities. This information can be obtained through DappRadar, a tool that monitors the Dapps (decentralized applications) in the market.
This movement is being accompanied by the increase in the price of its native token JEWEL. The token reached its historical high (ATH), being quoted at 22.31 USD.
Defi Kingdoms grows as the market heats up
The game Defi Kingdoms is another example of the play-to-earn (P2E) games that have emerged in the cryptoactive market. In addition to being inspired by the metaverse, it also includes non-fungible tokens (NFTs) as part of its structure. According to data from Dappradar the number of Defi Kingdoms users grew by over 300% last month. In addition, the number of transactions on the network more than doubled in the same period, reaching 7.32 million.
The Rise of Decentralized Gaming
According to the vision of Yosuke Matsuda, president of Square Enix, last year was the year of NFT and the metaverse. While smaller companies have created projects inspired by these concepts before, it was in the past year that the industry started to inject funds in a more substantial way. As a result, projects like Decentraland and The Sandbox, which were long established, are already benefiting from this momentum.
Axie Infinity became one of the most played decentralized games this year, due to its play-to-earn mechanic that appealed to low-income people in countries like the Philippines and Venezuela, who were able to earn more income by playing these than occupying normal jobs in their countries.
Due to this success, traditional gaming companies (such as Square Enix and Ubisoft) are now trying to introduce these elements into their gaming ecosystems, proposing to create symbolic economies and markets that would allow these universes to be self-sustaining in the future. However, AAA game companies have not yet fully embarked on this universe. As much as it is possible to verify the presence of some of them in the world of NFTs, there has not yet been an effective integration between a large franchise and the NFTs.