The Rollercoaster Ride of GameFi

Let’s face it, the last few years in the world of crypto gaming have been a real nail-biter, and not in a good way. With most tokens and NFTs flopping harder than a fish out of water, investors have been sweating bullets as companies shut their doors left and right. But hold onto your hats, folks! There might just be a flicker of hope on the horizon.

OhBaby Pass: The New Star of the Show

Enter the stage: OhBaby Games and their shiny new NFT collection called the OhBaby Pass! It kicked off on October 8 at 0.1 ETH (that’s about $410 for those counting pennies) and not long after, it skyrocketed to a staggering 0.5 ETH ($2000) right before our eyes. Fast forward to now, and it’s trading at around 0.42 ETH. Not too shabby, huh?

The GameFi Woes Continue

Now, let’s not sugarcoat it—GameFi projects have had a rough go during this bull market. The entire stockpile of gaming assets is down to a measly $12.5 billion after last Friday’s selloff. Just to put that into perspective, remember the days when The Sandbox and Decentraland were flexing their muscles at a combined $14 billion market cap during the epic metaverse hype of 2021? Feels like ages ago, right?

Standalone Games Getting the Short End of the Stick

Standalone games are wallowing too, especially Illuvium, which went from a rockstar $1911 to a sad little $14.51. That’s a 99% drop, folks! What happened? Well, token unlocks and players escaping the game like it’s on fire seem to be the culprits here.

Investors Throwing in the Towel

As the tokens continue to bleed cash, some investors are waving the white flag. Take Grail.eth, for example. This NFT gaming aficionado publicly announced his decision to ditch gaming tokens and NFTs. He’s all like, “I love gaming, but it’s not a goldmine right now.” After chasing rainbows and finding mostly disappointments (and some outright scammy founders), he’s pivoting to more promising narratives. Wise move, Grail!

Bright Spots Amidst the Gloom

But wait! Not all hope is lost for gaming this past year. Some semi-idle RPGs like Onchain Heroes and Cambria managed to steal the spotlight and pull off short-term wins. It’s like finding a diamond in the rough!

OhBaby’s Unique Approach

And here comes OhBaby with its unique twist! While the team juggles developing a bunch of exciting games like “Bam Bam Boom” and the card-slinger, Pawker, their flagship game OhBaby Kart has been cruising along on the Steam marketplace since 2023.

The First Step into the Onchain World

Up until now, their games haven’t dipped their toes into the onchain waters, except for payments. But with the NFT pass, they’ve taken their first plunge into this crypto-dominated playground! Pasteur Tran, the brains behind OhBaby Games, told The Defiant that tradable on-chain assets just make sense. Finally!

Looking to the Future

Tran sounds optimistic about what’s ahead. He believes that the crypto gaming market is only just warming up. There’s a ton of room for growth, and let’s be real, the first generation of crypto games was like a bunch of dreamers at a game dev party who didn’t know how to actually make a game. Expect a rise, folks; OhBaby is ready to ride this wave!