- Metaverse and Web3 space are not affected by the crypto winter.
- Axie Infinity remains the fan favorite blockchain game among the users.
- Institutional investors are investing substantially in the metaverse.
Blockchain Gaming Witness a Rise
Crypto market downturn has caused a lot of disappointment among the investors following the endless dark ways into the tunnel. Despite the cold space, metaverse and blockchain gaming sectors remain hot. According to a DappRadar and BGA Blockchain report, both the sectors have attracted mammoth investments from the organizations.
Axie Infinity remains the top blockchain game with over 36K active user wallets with trade volume reaching to 4.2 Billion USD. The collection surpassed CryptoPunk NFT collection volume of 2.92 Billion USD. Alien Worlds saw 197,555 unique active wallets following their collaboration with Ziliqa.
New Flow blockchain based 8-Ball Pool game, Trickshot Blitz, attracted over 400K unique wallets with more than 4.6 Million transactions in game. Splinterlands, a card battle game, reached over 3 Billion battles in game. The play-to-earn game reported 2 Billion users during March 2022. The game also announced a partnership with the Major League Soccer Players Association.
The report shows a reduced month-on-month metaverse trade volume by 28.9% but sales count escalated to 19,354, which also represents an increasing demand in the space. Though the sales of Otherdeeds (virtual land plots in BAYC’s Otherside metaverse) plunged by 28.9% July 2022, it still represents 73.23% of the total sales volume. Recently, Bored Apes were featured during Eminem and Snoop Dogg’s MTV VMA performance.
The pixelated P2E game, The Sandbox, collaborated with Gordan Ramsay’s Hell’s Kitchen and Paris Hilton, causing a 40% growth in the unique wallet addresses, reaching 1,680 wallets from July 2022, just after the Alpha Season 3 release.
The Metaverse sector has attracted a 728 Million USD worth of investments during August 2022. Gabriel Leydon threw 200 Million USD for a new blockchain gaming startup Limit Break, whereas, Animoca Brands received a 100 Million USD funding from Temasek. Q1, Q2, and Q3 received 6.9 Billion in investments, the number is expected to rise to 10.2 Billion USD by the year end.
Metaverse and Web3 are still in their infancy, but these stats shows that bitht the sector have a massive potential in the coming years. With celebrities and organizations entering the space to flourish their growth, the future for the virtual worlds appears bright.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
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