Blockchain game investments reached nearly $1B in April
Blockchain games saw a total of $988 million in investments in April, the highest since January 2021. The number of daily unique active wallets also reached a record 2.9 million in the blockchain game.
Dapradar, in collaboration with the Blockchain Gaming Alliance, released its April Chain Gaming Report on May 17. The sector's banner month comes with similar trends in the overall decentralized applications (Dapp) market.
According to the report, the recent gains can be attributed to several factors, including renewed consumer interest in digital assets in the gaming context:
“The gaming-to-air trend continues to drive interest in blockchain gaming. Additionally, the current buzz in the Web3 industry focuses on the proliferation of new gaming tokens.”
Among blockchain gaming platforms, Ronin's “Pixels” made it to the top spot for the month. Leaving former market leader Polygon in the silver slot, the strength of its games catalog includes Matr1x and QORPO WORLD.
It might be an understatement to say that April was a high-water mark for the blockchain game. The first quarter of 2024 saw a total of $288 million in blockchain gaming investments. April's investments alone more than tripled that amount, stopping just shy of $22 million to reach a cool billion dollars.
The report indicated that in the month of April Metavas began to show positive signs of growth. Among the NFT collections associated with the Metaverse, Mokaver figuratively blew away the competition with an $8.4 million trade. The next highest transaction amount was $1.48 million for agricultural land per pixel. On the other hand, it broke the trading volume of $1.02 million.
In Dapradar:
“Despite significant challenges, including the industry-wide impact of 20,000 layoffs, the blockchain gaming sector is showing strong signs of recovery and growth.”
Additionally, the recent moves by major players in the gaming industry, such as Ubisoft and Square-Enix, could signal significant growth for the sector. “The blockchain game got a big boost this April,” the report's authors wrote, before concluding that the sector is rejuvenated and ready to take advantage of new technologies and innovations.
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