DeFi games offer a unique and exciting way for players to interact with the world of crypto, allowing them to accrue incentives by playing games, staking tokens, and providing liquidity to decentralized exchanges (DEXs), among other activities. The rewards can come in the form of in-game/tradable assets, crypto, and even real-world goods and services. Unlike traditional games, where in-game items hold no value outside the gaming ecosystem, DeFi games leverage blockchain tech to enable players to own, trade, and monetize their in-game assets on open markets.
Recent studies have shown that DeFi games account for an astonishing 49% of all on-chain activity, highlighting the sector's meteoric rise and potential for further growth in the near future.
Gaming Continues to Take Center Stage at Major Crypto Events
Over the past year or so, GameFi has made its way into the agenda of many key crypto events and conferences, cementing its position as a rapidly growing and influential sector within the broader crypto ecosystem. Two major events that put GameFi in the spotlight were the Bitcoin Asia 2024 conference and Ordinals Asia 2024.
To elaborate, the Bitcoin Asia 2024 conference, held in Hong Kong between May 9 and 10, brought together over 5,000 attendees, 200 speakers, and 300+ media outlets. It provided a platform for industry leaders and innovators to showcase their projects, share insights, and engage in robust networking opportunities. What was most striking about the 2-day event was that the topic of GameFi seemingly took center stage as a key topic of discussion at several panels.
Among the key players in attendance were Ordz Games, a gaming platform customized for the Bitcoin ecosystem. Ordz Games gained significant attention for its project, BitBoy, the first Web3 gaming device powered by a Decentralized Physical Infrastructure Network (DEPIN). The company's founder and CEO, z3th, actively participated in many discussions, like one with Jason Lau, Chief Innovation Officer at OKx, around the gamification of Bitcoin and how it stands to revamp the gaming industry in the near to mid-term.
Similarly, the Ordinals Asia event, co-organized by several mainstream entities, including Xverse, Darewise, Ordz Games, and Ordzaar, brought together over 700 participants from the Bitcoin Ordinals ecosystem, including leading figures, builders, artists, collectors, and investors. The event highlighted the growing interest and adoption of Bitcoin Ordinals, a new way to create NFTs and DeFi games on the Bitcoin blockchain—thus showcasing the intersection of art, technology, and innovation.
On X, z3th shared a few highlights from the event, including hosting an impressive gaming lounge with Pizza Ninjas and taking a @TaprootWizards Shower!
Primed for Growth and Innovation
As the digital asset ecosystem continues to mature and grow, it stands to reason that gaming on DeFi will continue to thrive. Latest data indicates that the DeFi sector's total value locked (TVL) recently surpassed the $100 billion mark for the first time since May 11, 2022, reaching a cumulative total of $105 billion.
In this context, companies like Ordz Games, along with its founder, z3th, are leading the charge in pushing the boundaries of GameFi. With their groundbreaking projects, it will be interesting to see how this space continues to evolve.
Next stop BitBoy has partnered with Ordinals Lisbon, a conference that is part of the NFC Summit Lisbon from May 28–30, and will be showcasing the BitBoy hardware in Lisbon for the first time.
