New Report Says GameFi Has No Crypto Winter

GameFi does not know crypto winters. Games and the metaverse are doing very well, investment is still significant.

Blockchain and many related technologies can be found in many areas today. Unfortunately, it is very hard on the markets now, the crypto-winter is raging. And it harms many cryptocurrencies and many projects. GameFi, for its part, doesn’t seem to know the crisis.

GameFi doesn’t know crypto winters

According to the latest DappRadar x BGA Games Report #5, GameFi and the Metaverse are doing very well. This report details several projects. Splinterlands, Illuvium, Galaverse and STEPN continue to attract new players, create genuine financial interest and grow.

For DappRadar, it’s the utility at the heart of the gaming aspect itself that matters. Projects have begun to use non-fungible tokens (NFT) and cryptocurrencies, except for purely speculative ones. For example, NFT Project STEPN shoes can be bought and sold in the STEPN metaverse, which is an incentive in addition to the in-game physical exercise.

Games and the metaverse are doing very well, investment is still significant.

Also according to the report, the game itself demonstrates its usefulness in the context of the metaverse. Although bitcoin fell in early June, the game Illuvium nevertheless sold 20,000 plots of land, earning developers 4,018 ETH. In the meantime, Splinterlands has had 350,000 unique active wallets per day since May, which is slightly (4%) less than in April, but still very good numbers.

Investment also did not fall. A16z and Dapper Labs have invested $1.3 billion in GameFi and the Metaverse. Blockchain Flow, meanwhile, has received $725 million from Dapper Labs to expand its business around the metaverse like NBA Top Shots.

If the metaverse is still in its infancy and there are still many issues to be addressed, the fact that investment continues to come in and that players continue to respond is a good indicator of interest and therefore evolution.