NFTs improve interactivity by allowing users to unlock fully modular, community-driven in-game experiences to which they own the pieces, explains Mark Soares, the founder of Blokhaus Inc.
Web3 games and Metaverse projects have raised $748 million in funds last month.
The GameFi sector has achieved unprecedented growth over the past couple of years and is attracting investors.
The gaming sector accounts for nearly 51% of the activity in the blockchain industry with hundreds of millions in transactions, according to August data.
While roughly half of the investors joined the GameFi space initially for profits, 89% of GameFi investors succumbed to Crypto Winter 2022.
Phat Loop Studios, the company behind the "Pokemon-like" game Untamed Isles has blamed the crypto market crash as a reason its investors bailed.