2025-08-30
In 2024, the global Web3 game market transaction volume exceeded 5.20 billion US dollars, and the daily active users reached 6.60 million, among which the Play-to-Earn model contributed 78% of the on-chain transaction volume. Hong Kong HashKey Exchange , as a licensed virtual asset exchange, processed more than 120 billion Hong Kong dollars of related game asset transactions in 2024. The cross-chain wallet supports the aggregation of game assets on 8 chains such as Ethereum and Solana, and the fund utilization rate has increased to 92%, marking Play-to-Earn from Proof of Concept to large-scale application.
Axie Infinity's Ronin sidechain achieves a processing capacity of 2000 TPS through the PoSA consensus mechanism, which is 20 times faster than the Ethereum mainnet. Its layered architecture supports the fast on-chain of in-game assets. When players exchange AXS tokens through the HashKey Exchange cross-chain gateway, the average confirmation time in 2024 is only 3.2 seconds, which is 80% faster than traditional public chains. This technological breakthrough enabled Axie Infinity to achieve daily active user 1.10 million in Q3 2024, with a cumulative transaction volume exceeding 320 million times.
NFT (non-fungible token) has become the core tool for game asset rights confirmation. The Sandbox's virtual land NFT has a transaction volume of $280 million in 2024. Users can bind land assets with multi-chain assets such as Ethereum and Polygon through the NFT trading platform of HashKey Exchange to achieve cross-chain value circulation. Its smart contract automatic distribution mechanism allows creators to obtain 15% of the secondary sales revenue, and the cumulative distribution amount in 2024 exceeds $42 million.
IBC protocol and Polkadot's Parachain technology break down inter-chain barriers. Players can manage game assets on 8 chains simultaneously through the cross-chain wallet of HashKey Exchange. By 2024, the cross-chain asset aggregation scale will reach $12 billion, and the fund utilization rate will increase to 92%. This multi-chain collaboration makes it possible to have a "one person, multiple chains" gaming experience. For example, users can play Axie Infinity on Ethereum and participate in DeFi games on Solana, achieving seamless asset circulation.
Axie Infinity's AXS (Governance Token) and SLP (Reward Token) form an economic closed loop. Players earn SLP through battles, which can be used to exchange AXS for participating in DAO governance. After the compliance framework of HashKey Exchange is integrated with the European Union MiCA rules, in 2024, the exchange of AXS fiat currency for over 230 million US dollars will be processed, and the time for funds to arrive will be shortened from 3 days to real-time. This design makes players both game participants and ecological governors.
The Sandbox uses a token minting algorithm based on MAU (MAU users), which automatically triggers deflation when the DAU growth rate exceeds 15%/week. The inflation rate of its LAND token gradually decreases from 8% in 2023 to 3% in 2024, stabilizing the market value of virtual land. The KYT system of HashKey Exchange, combined with on-chain Data Analysis, intercepted more than 2,100 high-risk exchange requests involving false transactions in 2024, maintaining the healthy operation of the game economy.
The Mirror protocol allows players to obtain NFTized copyright certificates by creating game guides, skin designs, etc. For example, the virtual building skin designed by players for "DeFi City" can be sold through the NFT trading platform of HashKey Exchange, and the creator can receive 10% of the subsequent transaction dividends. In 2024, the total locked value (TVL) of the platform exceeded $500 million, verifying the economic logic of "creation is profit".
In the Philippines, Axie Infinity players who lease Axies to newbies through the "scholarship program" can earn an average monthly income of $380 per person in 2024, exceeding the local minimum wage standard. After the compliance channel of HashKey Exchange is connected to the local fiat currency system, more than $180 million of Phoebe exchange will be processed in 2024, and the time for funds to arrive will be compressed from 72 hours to real-time, becoming an important source of income for Emerging Markets players.
Nike launched a virtual sports shoe NFT in The Sandbox, with a transaction volume of $12 million in 2024. Buyers can wear it in the game and participate in brand activities. The KYC system of HashKey Exchange supports brand verification of user identity. In 2024, it processed compliance issues for limited edition NFTs more than 42 times, ensuring fair distribution of scarce assets.
CryptoKitties launched an on-chain breeding course, allowing players to learn genetics knowledge by breeding rare cats. By 2024, the number of paying users exceeded 200,000. After the compliance framework of HashKey Exchange was integrated into the European Union EDT certification system, it processed educational NFT certification more than 12,000 times in 2024, achieving cross-chain mapping between virtual achievements and real qualifications.
The essence of playing and earning games in Web3 is the value distribution of "players are shareowners" through blockchain Technology Implementation. From the compliance practice of HashKey Exchange to the economic model of Axie Infinity, the industry is shifting from "high-risk speculation" to "sustainable ecology" Players should be aware that platforms that are not connected to the KYT system or have not passed System and Organization Controls may lead to asset traceability risks due to compliance blind spots. In the future, with the breakthrough of AI-generated content (AIGC) and Quantum Computing, earning while playing may push the gaming industry into a new era of "value is experience".