While the Web3 and GameFi sectors continued to lose users’ money in June and saw funding rounds cut, several popular games have kept token prices and user numbers relatively stable.
Regardless of the problems of old leaders like DeFi Kingdoms and Axie Infinity, these developments show that while many difficulties may exist for developers and buyers in GameFi, the industry is far from collapsing.
The general market continues to be gloomy. Footprint Analytics data shows that last month:
- Market volume is down 30.3% MOM, with trading volume down $166 million.
- GameFi has a total of 1.46 million users, a decrease of 26.9% MOM. The number of new users also decreased by 34.1%.
- Investment from venture capital companies (VCs) in the GameFi field decreased by 57.7% MOM.
On the other hand, apart from the doldrums, “risky” investments like Metaverse Land and NFT have performed relatively well against “safe” assets like BTC and ETH. Here’s what happened in GameFi in June.
Overall Quotation of GameFi Market
The number of games stood at 1,557, up 2.9% month-on-month. Newly released projects, including MIND Games, Fishing Lands, and Fantom Survivor, currently have very few transactions and users.
Although the market is extremely scared, it has not stopped new projects from appearing.
Grants fell by $239 million, or 57.7%, compared to May. In terms of funding rounds, there are more seed rounds than any other category.
Capital mainly flows into the Web3 and NFT portfolio. A Web3 project, Wildcard, received $46 million, making it one of the few successful projects during the bear market. Cryptoys, a digital, collectible NFT toy project, closed a $23 million funding round led by a16z.
Total GameFi users down
Although more innovative games and projects are starting to emerge, the macroeconomic environment and volatility of the cryptocurrency market have pushed the number of active users down from a peak of 3.58 million. in January to 1.46 million at the end of June.
The number of new users also gradually decreased to 500,000. Compared to May, the number of active users decreased by 26.9%, and the number of new users decreased by 16.1%.
In addition, the overall volume of transactions in June decreased by 30.3% compared to May.
Conclusion
While the overall market continued to slide into June, individual developments in the GameFi sector have shown that it may be more resilient than many thought.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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Harold
CoinCu News
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Knowledge
Is GameFi At This Time Dead?
While the Web3 and GameFi sectors continued to lose users’ money in June and saw funding rounds cut, several popular games have kept token prices and user numbers relatively stable.
Regardless of the problems of old leaders like DeFi Kingdoms and Axie Infinity, these developments show that while many difficulties may exist for developers and buyers in GameFi, the industry is far from collapsing.
The general market continues to be gloomy. Footprint Analytics data shows that last month:
- Market volume is down 30.3% MOM, with trading volume down $166 million.
- GameFi has a total of 1.46 million users, a decrease of 26.9% MOM. The number of new users also decreased by 34.1%.
- Investment from venture capital companies (VCs) in the GameFi field decreased by 57.7% MOM.
On the other hand, apart from the doldrums, “risky” investments like Metaverse Land and NFT have performed relatively well against “safe” assets like BTC and ETH. Here’s what happened in GameFi in June.
Overall Quotation of GameFi Market
The number of games stood at 1,557, up 2.9% month-on-month. Newly released projects, including MIND Games, Fishing Lands, and Fantom Survivor, currently have very few transactions and users.
Although the market is extremely scared, it has not stopped new projects from appearing.
Grants fell by $239 million, or 57.7%, compared to May. In terms of funding rounds, there are more seed rounds than any other category.
Capital mainly flows into the Web3 and NFT portfolio. A Web3 project, Wildcard, received $46 million, making it one of the few successful projects during the bear market. Cryptoys, a digital, collectible NFT toy project, closed a $23 million funding round led by a16z.
Total GameFi users down
Although more innovative games and projects are starting to emerge, the macroeconomic environment and volatility of the cryptocurrency market have pushed the number of active users down from a peak of 3.58 million. in January to 1.46 million at the end of June.
The number of new users also gradually decreased to 500,000. Compared to May, the number of active users decreased by 26.9%, and the number of new users decreased by 16.1%.
In addition, the overall volume of transactions in June decreased by 30.3% compared to May.
Conclusion
While the overall market continued to slide into June, individual developments in the GameFi sector have shown that it may be more resilient than many thought.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
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