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Crypto exchange Huobi’s research arm, Huobi Research, has identified a rising interest in blockchain gaming as a direct impact from GameFi initiatives. GameFi implies the use of decentralized finance (DeFi) and blockchain gaming that incentivizes users based on a play-to-earn model.

According to Huobi Research, on-chain data suggests that GameFi initiatives have seen a steep increase since June 2021, owing to a sizable reduction in transaction costs and improved user experience.

Ways that GameFi reduces transaction fees. Source: Huobi Research
Changes in CryptoKitties daily active users and trading volume. Source: DappRadar, Huobi Research