Weekly GameFi Update (Week 24, 17/06/2022 - 23/06/2022)
Blockchain games continue to defy the bear market. TIME Magazine and The Sandbox team up to recreate NYC in the metaverse. Immutable launches US$500M Web3 gaming fund.
Key Takeaways
Blockchain games have continued to defy the bear market, as explained in a report published by DappRadar on Monday. Games such as Alien Worlds and Splinterlands continue to bring in new users and retain existing ones. Investments into the space have not slowed down either, with a combined US$1.3B invested by a16z and Dapper Labs.
Popular news magazine Time has joined forces with The Sandbox to create ‘TIME square’. As the name suggests, the project will be a virtual space inspired by New York City and will be used to host virtual convening, art, and commerce.
Immutable X has launched a US$500M gaming fund titled ‘Immutable Ventures’, dedicated to developing Web3 games and NFT projects, and will mainly be used to develop the Immutable X ecosystem by issuing $IMX token grants to developers and partners.
The total market cap for GameFi tokens now stands at US$8.28 billion, up +16.95% from last week.
Highlights
Decentraland DAO Issues US$1 in MANA to support ICE liquidity
OshKosh B’Gosh joins the metaverse craze in collaboration with Super League
RECUR launches NFT drop to bring Nickelodeon characters to the metaverse
Gaming firm Admix reaches US$300M valuation following merger, rebrand
Publicly traded BUFF steps into Web3 via partnership with MonkeyLeague
Tech giants cooperate on interoperability standards for an open metaverse
Meta will grow to billions of people spending hundreds, Zuckerberg says
Cryptoys maker OnChain Studios bags US$26M Series A funding led by a16z
Baidu launches Web3 AI infrastructure to advance innovation in the metaverse
Keanu Reeves offers to bring inclusivity to NFTs and the metaverse
Tencent joins the metaverse race with new ‘Extended Reality’ unit
Sky Mavis to focus on Axie Infinity: Origin after closing classic version
Top Gainers and Losers
*Gaming Infrastructure tokens: ENJ, FLOW, WAXP, UOS, MBOX, DAWN, GALA, IMX
*Gaming Utility tokens: AXS, MANA, SAND, ALICE, ILV, ATLAS, POLIS, GODS, GMT, DAR, AURY, APE, PYR
*Gaming Guild tokens: YGG, MC, UNIX, GGG, AGV
Top Games Metrics
* Week-on-Week (WoW) % change is calculated based on the differences between two consecutive 7-day periods
* Users refer to the number of unique wallet addresses interacting with the dApp's smart contracts
* Weekly Volume refers to the total amount of incoming value to the dApp's smart contracts during the 7-day period
* Weekly Transactions refer to the no. of transactions made on the dApp’s smart contracts during the 7-day period
* Stickiness refers to the ratio of daily active users (DAU) to monthly active users (MAU). A high stickiness means users consistently return to the dApp.
* Weekly volume using Splinterlands data is approx US$307K.
* Alien Worlds, Splinterlands, MOBOX, Sunflower Land, Pegaxy, SecondLive, Axie Infinity, DeFi Kingdoms data
from DappRadar
* STEPN data from Dune Analytics
Top 15 Largest Tokens
Source: CoinGecko, Crypto.com Research
Daily Gamers by Blockchain
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