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The Future of GameFi – Why are Firms Still Investing?
During a bloody period in the crypto industry when liquidity is drying up, the developers keep on developing, and the investors keep on investing. With all of the turmoil happening around us, it can be difficult to see positive developments happening in the space, one of which is the increasing investments in and the gradual evolution of the blockchain gaming (GameFi) industry.
After the NFT craze of 2021, many metaverse projects saw a dramatic uptick in users and revenue during that time. However, as the bear market has ensued from the start of 2022, the GameFi space has also taken a hit, with many popular Play-to-Earn games reporting record low revenues, as indicated by GameFi NFT trade volumes for Axie Infinity and others.
NFT game trade volume has dropped significantly over the past year (The Block)
Although there are some real challenges to be solved, it’s clear that VCs see beyond short-term hurdles, as is indicated by the accelerated investments in the space. In Q2 of 2022 alone, $2.5 billion was invested in GameFi, indicating a huge leap compared to 2021’s aggregate investment of $4 billion – and this year is still not over!
So then the question needs to be asked – is GameFi dead, or is there true potential for blockchains to revolutionize the gaming industry and absorb at least some of the current $220 billion (and rapidly growing) gaming market?
What is GameFi?
GameFi is a portmanteau of the terms “game” and “decentralized finance,” and it refers to a financial system in which users can earn money by participating in video games. While most play-to-earn projects place emphasis on the “gaming” aspect, the most critical aspect of GameFi at its foundation is “money”. Its beauty lies in the financial opportunities provided by a highly viewed form of entertainment – gaming.
While GameFi has shown a slight decline compared to its popularity earlier in the year, it was definitely the highlight of 2021, growing from 658 projects to over 1,100 projects in one year. The gamification of blockchain made the technology more approachable, appealing and acceptable for the public,
GameFi – Challenges Abound, But So Are Opportunities
Before we discuss the future prospects of GameFi, we have to acknowledge the challenges currently faced in the GameFi sector. For anyone involved in crypto, it won’t come as a surprise to find out that the public perception of GameFi is not great – hostile even. And a good amount of that negativity is not without merit.
Public Image Issues
The biggest challenge by far will be to convince traditional gamers of the underlying true value of NFTs. Not for their perceived and oft-reported highly speculative value, but for their digital scarcity, provable ownership, security and programmability that enables in-game assets to be used far beyond their main purposes. The 2021 NFT Cambrian explosion led to an immense crypto adoption and made a lot of people wealthy. But it also left some pretty big scars after the market cooled down; countless stories of project rug pulls by anonymous operators and celebrities, and NFT newcomers getting scammed are still circulating the news.
Mainstream gamers still need to be convinced that the web3 space can tackle the challenge of building a self-sustaining game economy. One that gives the players a chance to decide whether they want to play the game for free and for fun, or whether to take it to the next level and earn an income from it.
Free-to-Play – Adjusting Course for the Better
To draw inspiration for how to structure and monetize a game, the web3 gaming industry need not look further for its most ideal strategy than the one that’s been right in front of their eyes for more than a decade – Free-to-Play. Countless titles, such as Candy Crush, Farmville, Roblox, Pokemon GO, League of Legends and many more, have proven to the world that free-to-play games can be highly lucrative without setting up paywalls for their users, sometimes even more so than paywalled games.
The F2P mechanism flips P2E on its head – instead of letting whales hoard all of the in-game assets and generate passive income, F2P games let them bring in 80% of the revenues through Pay-to-Win (P2W), which allows players to pay for in-game advantages. These P2W features are typically low-cost small advantage boosts such as resource packs, gacha characters, healing boosters and more. But in the aggregate, these small payments compound into enormous profits for the game. It works for everyone – most players get to play the game for free, big players get to accelerate their in-game success, and the game itself generates more revenue than it knows what to do with.
And this realization is one of the reasons why more and more investments are flowing into GameFi. Though it had a rocky start, the value proposition of NFT-based games is clear – every single aspect of traditional F2P games is made simpler and safer. In addition, every in-game NFT asset can be added to a highly liquid global market of all NFT assets, offering ways to trade NFTs from different games, as well as build in utility for them in order to grant unique capabilities, access rights, invites and more. And if that’s not enough, on-chain data also shows a clear trend – gaming activity currently accounts for 52% of all Unique Active Wallets (UAW), a 232% increase from last year. The numbers speak for themselves — the opportunity offered by blockchain gaming is immense, and investors are paying attention.
The Path Forward for GameFi – Keeping It Simple
In the past years, the approach taken by many blockchain game projects has been to advertise their games to crypto-natives, typically with the express aim of offering earning opportunities for players. As a result, we’ve mostly gotten games of subpar quality that have served players mainly as profit extraction vehicles with limited long-term sustainability, especially during bear markets when hype and liquidity are low.
This may not be the end of the GameFi sector just yet, however. The newer form of web3 gaming has started to practice patience, build a great, addictive game, and quietly build all of the exciting and innovative web3 features into the backend of the game without making too much fuss about it. The industry is steering away from P2E, embracing Free-to-Play with Pay-to-Win as a sustainable means of monetization. Attracting talent from traditional gaming and finally forcing large game studios to build blockchain tech into their backends are all crucial pathways to making a blockchain-based gaming future a reality.
However, these great leaps will not happen out of thin air — a lot of capital will need to be deployed over many years. Luckily, companies such as Immutable X, the NFT-gaming optimized Ethereum L2 startup, have launched a $500 million development fund to invest in GameFi. Solana Ventures has also amassed a $100 million fund to invest in GameFi and DeFi targeting South Korea. And they’re not alone. More than $10 billion is expected to flow into GameFi this year alone.
The amount of capital invested perfectly demonstrates the potential these firms see in the upcoming, more improved version of GameFi. With this amount of capital, and GameFi’s tendency to revamp, improve and further develop its new generation of play-to-earn games, it’s a matter of when, not if, blockchain gaming will become the norm in the future.
Written by Boxmining

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Esports World Cup 2025 Unveils Official Song of the Year and Full Opening Ceremony Line-up
Til My Fingers Bleed” featuring DINO of SEVENTEEN, Duckwrth, and Telle Smith to debut live alongside Post Malone, Alesso, and Tina Guo at the Opening Ceremony in Riyadh on 10 July
The Esports World Cup Foundation (EWCF) today announced the release of “Til My Fingers Bleed”, the official Song of the Year for Esports World Cup 2025, alongside the full artist line-up for the tournament’s Opening Ceremony. Taking place on 10 July in Riyadh, the ceremony will feature live performances from DINO of SEVENTEEN, Duckwrth, and Telle Smith of The Word Alive, as well as GRAMMY-nominated producer and electronic music sensation Alesso, virtuoso cellist Tina Guo, and global music icon Post Malone, who headlines the event.
“Til My Fingers Bleed” is a high-energy, cross-genre collaboration that fuses K-pop, hip-hop, and rock, capturing the emotion, ambition, and global spirit of the world’s largest esports event. DINO, genre-blending rapper Duckwrth, and metalcore frontman Telle Smith each bring deep ties to gaming culture, from major esports performances to in-game collaborations.
Their live debut of the track will help open a seven-week tournament that is redefining the role of gaming in mainstream culture. The song was written and produced by Alex Karlsson and T.Ma, known for their work with BTS, G.E.M. and ATEEZ, along with Jared Lee (Duckwrth), who wrote the track’s rap verse.
“At its heart, the Esports World Cup is a global celebration of community – where gaming, creativity, and culture converge on the world’s biggest stage,” said Mike McCabe, Chief Operating Officer, Esports World Cup Foundation. “EWC Music, our official song, and the Opening Ceremony help define the identity of the tournament. They reflect the spirit of shared passion and the connective power of music and esports, setting the tone for an unforgettable summer and celebrating how music can elevate competition and deepen fans’ emotional connection to the sport.”
Of the exciting new track, Telle Smith of The Word Alive commented ‘Gaming has been a part of my life for as long as music has, so getting to bring a genre bending song to a global stage like this feels surreal. I’m honored to share the moment in Riyadh with Duckwrth and Dino, I think fans all over the world will love “Til My Fingers Bleed”’.
“From day one, the Esports World Cup has been created as a global stage for gaming culture across all genres.”, said Ariel Horn, Executive Producer, Esports World Cup Foundation. “Each artist on ‘Til My Fingers Bleed’ brings a unique sound that connects with players, whether they’re into sports, fighting, or action games. We’re excited to see how players and fans pick this track up around the world and hope they will embrace it.”
Viranda Tantula, Executive Creative Director, EWC Music, added: “Music is a universal language, and this is something it shares with gaming. What inspires us at this intersection of music and esports is the opportunity to shape new sounds for a truly global audience. We’ve always been drawn to creative experimentation, and with “Til My Fingers Bleed’, we wanted the collision of genres and international artists to reflect the same global mix of games and players that defines the Esports World Cup. The whole team has poured their hearts into this project, and we hope the community, k-pop, hip-hop, and rock fans feel the energy in both the track and the show.”
Now available across all major streaming platforms, the song is accompanied by a cinematic visualiser on YouTube, and will be featured throughout EWC broadcasts, social content, and live performances throughout the seven-week event.
The release follows “Ascension (Alesso Remix)”, a reimagining of the Esports World Cup’s orchestral theme by Alesso, featuring acclaimed cellist Tina Guo. Both tracks are part of EWC Music, a long-term initiative launched in April 2025 to develop an original music identity for the tournament. The programme began with the recording of a four-track suite at Abbey Road Studios by award-winning composers 2WEI and Hollywood Scoring, and continues with global artist collaborations and live performances.
Through original scores, artist-led tracks, and live performances, EWC Music aims to elevate every moment of the Esports World Cup – from broadcast highlights to trophy lifts and stadium shows.
The Esports World Cup 2025 Opening Ceremony will be headlined by Post Malone. A nine-times diamond-certified artist and lifelong gamer, he has deep ties to the esports world – from streaming Warzone and PUBG to collaborating on in-game events, including his recent Apex Legends crossover. His exclusive performance at EWC 2025 will blend chart-topping sound with a tribute to gaming culture on the world’s biggest esports stage.
The official Song of the Year artists also bring strong music ties to gaming: Duckwrth’s “Start a Riot” featured on the Spider-Verse soundtrack, while The Word Alive’s “RISE” was the 2018 League of Legends Worlds anthem, now streamed over 300 million times.
The Esports World Cup 2025 will once again unite the global esports community in Riyadh, Saudi Arabia, bringing together over 2,000 elite players and 200 Clubs from more than 100 countries. Players will compete in 25 tournaments across 24 titles for a record-breaking $70+ million prize pool – the largest in esports history.
Tickets, including access to the Opening Ceremony, are now available at esportsworldcup.com.
To learn more about the Esports World Cup, visit esportsworldcup.com and follow the Esports World Cup Foundation on LinkedIn. Esports World Cup: Level Up, the five-part documentary directed by Emmy Award-winner R.J. Cutler, is now streaming exclusively on Prime Video.
The post Esports World Cup 2025 Unveils Official Song of the Year and Full Opening Ceremony Line-up appeared first on European Gaming Industry News.
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LGUs, state university get Php20-M emergency vehicles from PAGCOR
The Philippine Amusement and Gaming Corporation on Thursday, June 26, turned over ten Patient Transport Vehicles (PTVs) worth Php20 million to several local government units and a state university to enhance their emergency medical services.
During the turnover ceremony at the PAGCOR Corporate Office in Pasay City, six PTVs were awarded to the municipalities of Palanan, Quezon, San Isidro, Cabagan, San Mariano, and San Pablo, all in Isabela province.
The City of Parañaque, the municipalities of Tanauan in Batangas and Balabac in Palawan as well as the Mariano Marcos State University (MMSU) in Ilocos Norte also received one PTV unit each.
Each vehicle is fitted with a GPS navigation system and essential medical equipment such as an ambulance stretcher, oxygen tank, wheelchair, and first aid kit.
PAGCOR Chairman and CEO Alejandro H. Tengco joins officials from nine local government units and the Mariano Marcos State University for a photo opportunity during the turnover of 10 Patient Transport Vehicles (PTVs) last June 26, 2025.
PAGCOR Chairman and CEO Alejandro H. Tengco said the PTV distribution is part of the agency’s efforts to improve healthcare delivery and to enhance access to medical services especially in geographically isolated communities.
“We want to ensure that even remote areas have the means to respond to medical emergencies. This is part of PAGCOR’s commitment to reach communities that need government support the most,” Mr. Tengco said.
“‘Yan po ang hangad ng PAGCOR; salamat sa pagkakataong makatulong at makapaglingkod sa inyo,” Mr. Tengco told the PTV recipients during the turnover event.
PAGCOR Vice President for the Corporate Social Responsibility Group Ramon Stephen Villaflor (2nd from left) and Assistant Vice President for Community Relations and Services Eric Balcos (far left) hand over the ceremonial vehicle key to Atty. Christopher A. Mamauag (3rd from left), Mayor of Cabagan, Isabela.
Mayor Christopher A. Mamauag of Cabagan, Isabela – a town where travel to tertiary hospitals takes several hours – expressed gratitude for the assistance and said the vehicle will significantly boost the town’s emergency response capabilities.
“Kami po ay nagpapasalamat kay President Ferdinand Marcos Jr., at sa PAGCOR, sa pamumuno ni Chairman Alejandro Tengco, sa pagpapaunlak sa aming kahilingan na magkaroon ng Patient Transport Vehicle para sa aming mga kababayan sa bayan ng Cabagan.
“Malaking tulong po ito at gagamitin namin ito ng wasto,” he said.
Each patient transport vehicle donated by PAGCOR is equipped with a GPS navigation system, an ambulance stretcher with mounted restraining system, medical oxygen, a wheelchair, and a first aid kit.
The post LGUs, state university get Php20-M emergency vehicles from PAGCOR appeared first on European Gaming Industry News.
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Evolution Launches First Live Casino Studio in the Philippines
Evolution has announced that its first-ever live casino studio in Asia went live today.
Located in Cebu, the Philippines, the studio marks a significant milestone in Evolution’s Asia-Pacific expansion and serves the regulated Philippine online gaming market, which is the first licensed iGaming jurisdiction in Asia.
The new operation launches in partnership with One Visaya Gaming Corporation (OVG), an industry leading company which operates with strict adherence to PAGCOR’S (Philippines Amusement and Gaming Corporation) code of conduct. This collaboration allows Evolution to offer its trusted live casino content to operators licensed in the Philippines.
Evolution’s state-of-the-art live casino studio in Cebu will initially offer Baccarat tables. Lightning Roulette and other game shows — including Marble Race and the standout Super Color Game, designed especially for players in the Philippines — are due to launch later this year. This new studio marks a major step in Evolution’s commitment to delivering localised, fully compliant entertainment tailored to regional markets.
Gionata La Torre, Evolution’s Chief Executive Officer for Europe, said: “We’re proud to launch our first live casino studio in Asia in the Philippines and be part of its regulated online gaming market. This new studio is a major milestone in our long-term commitment to the region. Partnering with OVG allows us to deliver world-class live content tailored to local preferences through licensed operators.”
La Torre added: “With player favourites available from day one and more exciting titles on the way, our focus remains on quality, innovation, and localisation — the keys to building trust and lasting engagement in any market.”
For trade press and media enquiries, please contact:
Amy Riches, Head of Marketing, [email protected]
For investor enquiries, please contact:
Carl Linton, Head of Investor Relations, [email protected]
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