Why Anticipation Surrounds Girand/ Why Girand May Impact the Game

The year 2024 is anticipated to bring significant transformations in the gaming sector, particularly with the emergence of the innovative trend known as GameFi. By merging video gaming with decentralized finance, GameFi establishes a distinctive environment where players can explore virtual realms while engaging in economic activities.

This article will examine the primary trends within the GameFi market for 2024. We will analyze the influence of innovation on the sector and explore how these developments may redefine the future of gaming. Prepare to delve into the realm of GameFi, where genuine entertainment coexists with opportunities for financial gain and success.

About GameFi

GameFi, an abbreviation for “game finance,” integrates gaming with decentralized finance (DeFi) within the broader category of video games. The fundamental principle of “play-to-earn” (P2E) enables players to immerse themselves in virtual environments while generating income through various interactions with cryptocurrency game mechanics. The GameFi sector has transformed perceptions of gaming, unveiling new possibilities for the industry.

The gaming economy has evolved with the introduction of non-fungible tokens (NFTs) replacing conventional in-game purchases. Possessing unique characters, weapons, and items as NFTs empowers players to create, trade, and exchange assets within game environments, thus generating income streams.

Statistics and Challenges

Throughout its history, GameFi has faced challenges, particularly during bearish market conditions. In 2019, 94.3% of 244 launched games were unsuccessful. By 2021, the failure rate decreased to 45.9%. However, 2022 proved to be a difficult year, with the number of failed projects doubling.

As of December 2023, 70% of the 720 GameFi projects have not achieved success.

Game Trends and Prospects

Despite the setbacks and failures of certain initiatives, GameFi continues to attract the interest of both investors and players. In 2023, funding for Web3 games reached a notable $600 million, underscoring the enthusiasm and backing for this sector. With advancements in technology and enhancements to economic models, a surge of successful projects leveraging GameFi is anticipated.

Yat Siu, the head of Animoca Games, envisions broader prospects, forecasting 2024 as a pivotal year for cryptocurrency games and the Metaverse. In spite of the challenges, GameFi and similar initiatives maintain their appeal, and the increasing interest in the metaverse suggests promising long-term potential.

Girand – A Breath of Fresh Air for the Industry

One of the most awaited events in the GameFi landscape is the upcoming launch of the alpha version of the new game “GIRAND: IN THE LOST CITY,” set for early 2024.

This captivating AAA game “P&E,” featuring breathtaking and unmatched 3D graphics, presents a distinctive 3D metaverse that recreates an ancient kingdom with remarkable realism. Drawing inspiration from Lovecraft and ancient Greek philosophers and historians, this fantasy realm narrates the extraordinary tale of Atlantis. The commitment to quality is evident in the meticulous attention to detail, such as the music featured in the game’s trailer, which was specifically composed and recorded for the game.

Girand has been developed at the convergence of Web2 and Web3, where the developers have significantly simplified the onboarding process for individuals unfamiliar with the digital economy. To begin playing, there is no need to create a crypto wallet; simply log in via Telegram, and the system will handle the rest.

A robust project team is a key asset of Girand; many members have experience working with major companies like Mail.ru, 1C, and Blizzard. Based in Dubai, the project’s office collaborates with experts from around the globe, selecting top talent in the field.

The creator and visionary behind the project, Sergey Fominyh, is the owner of a digital agency with over a decade of experience, a skilled investor in the stock market, and a former co-owner of an investment club with proprietary IT software.

Girand’s Economy

Innovative game mechanics provide a unique, non-linear, and engaging experience for each player. Girand’s NFT-based gaming economy incorporates a tax system for certain profitable transactions, imposing limits on payouts for PvE activities and rankings. This gradual implementation of the system, combined with the P&E model, promotes stable growth in gaming engagement. The developers have addressed a significant concern prevalent in many GameFi projects, which often raise skepticism among investors – the Ponzi scheme.

The team employed various strategies to tackle this issue, with a primary focus on ensuring that the gameplay, graphics, and universe should captivate and engage players more effectively than the prospect of earning money. The creators emphasize that Girand is fundamentally a game. Their primary objective was to create an engaging experience for players, with the potential for financial gain as an added benefit. This approach is expected to keep players invested through any market fluctuations, enhancing Girand’s resilience against market trends.

The primary revenue stream is derived from mining rare NFTs that players uncover within the expansive metaverse. The minting of new NFTs does not impact existing ones, as there is no inflation. New NFTs can be mined through the creation of new races, with each race having a limited number of NFTs, and the introduction of a new race does not affect the value of existing ones. By the end of 2024, the creators of Girand plan to host a large-scale tournament culminating in the UAE. The tournament will be open to all participants, allowing players the entirety of 2024 to refine their skills and prepare.

Final Thoughts

The bearish market trend of 2022 exposed numerous weaknesses within the GameFi sector, emphasizing the necessity for sustainable economic models and innovative development strategies. The industry continues to progress, and the new game GIRAND: IN THE LOST CITY serves as a clear testament to this evolution.

Cryptocurrency games are projected to assume an increasingly significant role within the global gaming industry ecosystem, becoming a vital component of the financial landscape.

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