The Web3 Space Sees Immense Growth As Gaming And NFTs Take Center Stage

The gaming and non-fungible tokens (NFTs) sector is increasingly gaining traction and popularity. In line with the development, the Chief Operating Officer of crypto exchange Crypto.com, Eric Anziani, stated that gaming and NFTs will be the main focus of the growing sector in the future. At the moment, most of the talks in Web3 are already centered on gaming and NFTs.

He noted that those who work hard in a game can own an asset. This is the benefit the user derives from the game and the assets can be interoperable. “With NFT, you have that digital asset ownership that you can see in games,” he added.

Apart from claiming ownership of the game, the user can also claim ownership of their data and identity in the metaverse. It enables the user to have a digital identity where they can control their identity on several platforms both as a creator and as a user.

Crypto.com Partners With Busan

Crypto.com recently announced its partnership with Busan, the second-largest city in South Korea. According to the deal, the Memorandum of Understanding (MoU) will enable them to collectively advance the blockchain industry.

The deal also stipulates that Crypto.com will leverage its expertise and resources to advance education, technologies, research, and innovation to advance the City of Busan’s blockchain ecosystem. The crypto exchange will be sponsoring and participating in this week’s Busan Blockchain week.

While commenting on the partnership, Anziani said there is a massive opportunity to increase the level of crypto and blockchain adoption in Busan.

He added that the company is eager to partner and leverage its expertise and relationships in realizing that potential in the city.

Trades In NFTs Rose Substantially In 2021

NFT trade volumes have increased dramatically since December 2020, from a mere $135 million to $64 billion. The sector experienced its best growth period in 2021 when several NFT assets hit their all-time high levels. But this year, NFTs have been in a sort of wilderness as the industry has remained relatively quiet.

The trend is gradually picking up, and the gaming sector has a lot of roles it’s playing in the recent resurgence. Blockchain gaming is finally here to stay, and the industry is brimming with lots of activities and innovations.