Competitive outlook for NFTs and blockchain-based gaming in 2022

Recently, The Block Research synthesized the key themes that loomed large in the NFT and blockchain gaming sphere throughout 2021. In short, the overall NFT trading volume surpassed $8.8B, with 59% coming from Art and Collectibles NFTs and 41% stemming from Gaming NFTs. As gas fees continued to climb to exorbitant highs, users branched out to other layer 1s, layer 2 scaling solutions, and Ethereum sidechains, ushering in a multi-chain NFT era. The rise of blockchain gaming revolutionized the business model of the traditional gaming industry with far-reaching repercussions, trailblazing play-to-earn game mechanics and blockchain gaming guilds.

In the near future, a shake-out of the plethora of PFP collections and play-to-earn blockchain games is to be expected, separating the wheat from the chaff. At the same time, the advent of innovative mechanisms for NFT launches and growth in several subdomains of scaling solutions on Ethereum would ameliorate the user experience of trading NFTs and accelerate mass adoption.