Evaluation of GameFi projects in the first half of 2022

The focus of investment in the blockchain industry is gradually shifting towards GameFi, driving the number of projects, funding, transactions, and the number of participants in this market sector to increase sharply. This article will assess which games have potential and which games are losing attention in the first half of 2022.

Overview of the financial performance of GameFi projects

The total number of GameFi projects as of May reached 1,498, an increase of 99% over the same period last year. Investment volume in the first half of the year stood at $3.7 billion, far exceeding the $780 million figure in 2021.

GameFi is gradually increasing its share in the entire blockchain sector, with a total investment of $22.5 billion. The sector accounted for 16.4% of total investment, at $3.7 billion.

Financial analysis of GameFi projects

The Sandbox and Phantom Galaxies

In January, in terms of total investment rankings, Metaverse game developer Animoca Brands announced the completion of a $359 million funding round led by Liberty City Ventures. Metaverse-related game projects are also currently in an active phase.

The Sandbox, Phantom Galaxies, and REVV Motorsport are all game projects of Animoca Brands.

The Sandbox is Animoca Brands’ flagship game – a Metaverse building sandbox game. At the end of last year, after the alpha launch of this game, the user growth rate rapidly exploded. But its user base and market value decreased due to the delay of the public beta launch. Therefore, the game ecosystem needs constant user engagement and maintenance to be stable.

Phantom Galaxies is an AAA game set to be released in beta in Q3. The gameplay will focus on simulating open-world online spaces with fast-paced mech shooters and compelling stories. Players can customize mechs and ships to perform quests, solve puzzles, and gather crafting resources.

The end of last year was when Metaverse projects were at their peak and this area had the most potential. But as a Metaverse project, The Sandbox is not developing as planned and the slow launch of Phantom Galaxies will gradually lose attention.

Civitas

Although some games fell out of favor, others became popular.

In April, Civitas announced it had closed a $20 million funding round led by Delphi Digital and Three Arrows Capital, with participation from Framework Ventures, BITKRAFT, DeFiance Capital, Sfermion, CCP Games, Yield Guild Games, Merit Circle, and YGG SEA.

Civitas is a community-driven city-building game and gamers can work individually or collaborate with others to upgrade the city through battles. The project uses a subDAO model in which the community controls the city, allowing guilds to grow as users work and vote.

By accessing the augmented reality universe via mobile, gamers can explore CITI tokens as well as play mini-games and find unique resources needed to craft. With real-world geofencing technology, players can use the map view to locate assets and engage in activities scattered throughout the real world.

Players are allowed to interact with the land, locate, collect, craft items and post on the city forum if playing on the computer. They can also access all features of city buildings, city markets, and landscapes on the world map.

The game received investment from Delphi Digital and Three Arrows Capital prior to its beta release. Of course, early entrants will need to research their next development path. The game is still in its early stages and has a relatively new gameplay.

STEPN

In January, STEPN closed a $5 million seed round led by Sequoia India and Folius Ventures. It is also considered one of the most promising GameFi projects at this stage, providing financial rewards and introducing social rewards to drive millions of users through its Move to Earn approach.

Footprint Analytics data shows that the number of GMTs going to new and active addresses is increasing in waves.

Conclusion

For GameFi projects, getting funding from famous venture capital is very important to promote growth in a bear market, help to expand the team, and attract users to develop games to become more popular. more advantageous. Currently, the market is quite difficult for projects, typically STEPN with a decrease in the number of players in May.

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.

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