G2A, a digital gaming product resale platform, has recently entered the Web3 space with the launch of “G2A Geekverse,” a non-fungible token (NFT) marketplace dedicated to gaming and entertainment.
The marketplace, featuring curated digital assets from G2A’s partners, focuses on blockchain-based games, offering items, characters, in-game cosmetics, and other virtual objects.
The platform facilitates Web3 creators in selling their work and expanding their audience while providing gamers with a convenient platform for buying and trading in-game assets.
The press release also highlights that G2A Geekverse currently supports three prominent blockchains: Ethereum, Polygon, and Binance Smart Chain. Also, the marketplace prioritizes creators’ royalties, allowing them to set their own terms, and will not impose transaction fees.
The platform’s launch is driven by the increasing popularity of blockchain-based games, such as Axie Infinity, The Sandbox, and Gods Unchained, which offer advantages like play-to-earn models and interoperability, making them preferable to Web2 alternatives.
Market projections indicate that by the end of 2023, the blockchain gaming market is expected to reach $23,926 million, with anticipated growth to exceed $133,228 million by 2033, showcasing a Compound Annual Growth Rate (CAGR) of 18.7% during the forecast period.
In light of these forecasts, many companies are delving into Web3, exploring potential avenues within the gaming sector. Notably, in September, Google implemented a policy update to allow the promotion of blockchain-based gaming that incorporates NFTs.
Similarly, the well-known Solana-based marketplace, Magic Eden, has been actively exploring the realm of Web3 gaming. In March, it introduced “Magic Eden Games,” serving as a central hub for Web3 game developers to grow their communities. More recently, Magic Eden formed a partnership with the Citizen Conflict game, resulting in the launch of exclusive NFT playable characters.