Amidst Collapsing Markets Blockchain Gaming is on the Rise
Many opinion leaders view the current state of blockchain gaming as a dying trend. The problems associated with the economic models of certain games are forcing players and venture investors to sell their project tokens, and the current events in the market is only worsening the situation.
Has the blockchain gaming trend really come to an end? Or is this just an inevitable correction after an explosive growth? Read on to find out.
1. Despite the market decline there is a continued growth in the overall number of GameFi users
The over 1.3 million active wallets linked with blockchain games, despite the red market, clearly demonstrate that play-to-earn games are still gathering interest. Showing that users appreciate the utility they are bringing to the blockchain.
2. Record amounts of funding in the GameFi sector
As well as the positive performance metrics in the gaming sector seen since the beginning of 2022, venture capital funds have invested over $4B in gaming startups. Of particular note is the industry leader, a16z, launching its new Games Fund ONE of $600M.
It is also worth noting that DAOs and guilds are actively investing in blockchain games.
There is no doubt that the bear market has had a strong impact on public sales. We can see that the amount of IDOs and IEOs taking place has sharply decreased. However, it is interesting to note that for several projects ATH and ROI has remained at respectable levels.
Play-to-Earn games remain the strongest performers in the current declining market.
Take a look at some of the forthcoming projects from the portfolios of major VCs on CryptoRank.io
Follow the links for more insights.
