GameFi Slides on Macro Trends but Individual Projects Shine | April Monthly Report |
GameFi is a global digital currency that can be traded on-chain and leverages blockchain technology to create an opportunity for gamers, developers and publishers. The project has been making waves in the industry with its focus on creating a fair economic environment for all stakeholders involved.
The “gamefi market research” is a monthly report that covers macro trends but individual projects shine. The April Monthly Report has some great insights into the gaming industry, including how to make your game stand out in an overcrowded marketplace.
In April, GameFi game projects increased by 5.2 percent, from 1,406 to 1,479, with growth focused in the BSC and Polygon chains. There were 9.22 million monthly active users and $34.37 million in transaction volume. However, active users and transaction volume decreased by 24.9 percent and 73.4 percent, respectively, when compared to March.
Despite the decrease in users and trade volume, several GameFi initiatives performed successfully. For example, STEPN was the most popular DApp on the crypto market, Splinterlands had over 350,000 daily active players, and DeFi Kingdoms topped Axie Infinity as the most traded GameFi project.
Here’s a breakdown of GameFi’s overall performance in April.
Market Overview for GameFi
GameFi projects climbed 5.2 percent month over month, with BSC and Polygon seeing the most growth.
According to Footprint Analytics, the GameFi sector has 38 blockchains participating as of April 30, with 1,479 game projects, up 5.2 percent year over year.
Number of GameFi Protocols by Chains – Footprint Analytics
The number of Ethereum projects in the GameFi ecosystem is not increasing as quickly as it does on the BSC and Polygon chains. BSC and Polygon projects have grown to be among of the most popular games in the crypto industry today. Bomb Crypto and Mobox on BSC, Crazy Defense Heroes and Pegaxy on Polygon are among them.
Because of their cheap gas prices, fast throughput, and the same high security as Ethereum, game developers favor BSC and Polygon. Blockchains like BSC, Polygon, and WAX are increasingly dividing the number of Ethereum projects, attracting a huge number of gaming players and projects.
Monthly Number of Games by Chain – Footprint Analytics
Gamefi’s transaction volume is down 24.9 percent month over month.
The overall number of active users was 9.22 million as of April 30, including 780,000 new members. The number of active users has declined by 24.9 percent since March.
Even if the number of games has expanded since October, the number of new and active users has decreased.
Monthly Gamers Trend – Footprint Analytics
Some games, however, have witnessed an uptick in new users. Crazy Defense Heroes and Pegaxy, for example, showed a 25% increase in new users in the Polygon gaming ecosystem.
GameFi New Users by Chain Footprint Analytics
Trading volumes increased by $510 million per day from October to November, according to Footprint Analytics. Since January, however, GameFi trade volume has been in decline owing to macroeconomic conditions. Trading volume per wallet has continuously decreased from $105 to $20.
Furthermore, the Axie Infinity attack in mid-February had a substantial effect on active users and trading volume, with users losing approximately $615 million in ETH and USDC.
Footprint Analytics – GameFi of Volume TrendFootprint Analytics – GameFi Volume and Transactions per User
GameFi raised over $2.4 billion, up 381 percent year over year.
According to data, the blockchain industry received the greatest capital in April, with $6.62 billion invested. With $2.4 billion in investment, the GameFi industry contributed for 36.3 percent of the total. GameFi witnessed a 381 percent growth in April compared to March.
Footprint Analytics – Monthly Investment Trends in Funding
Web3 saw the biggest investment in the GameFi sector, with the STEPN Web3 project, which mixes GameFi and SocialFi aspects, being the most significant initiative.
Gaming Financing Distribution Footprint Analytics
GameFi Data is underperforming, but the games are still fantastic.
Despite the poor macro conditions, numerous initiatives performed successfully in April. For more than three months, Splinterlands was the most popular game, with an average daily active user count of over 350,000. By transaction volume, DeFi Kingdoms has overtaken Axie Infinity to become the biggest GameFi project. With its Move-to-Earn feature, STEPN has become the trendiest DApp in the crypto industry.
Footprint Analytics – Top 10 Games Ranking by Users (April 30)Footprint Analytics – Top 10 Games Ranking by Volume
With 350,000 daily users, Splinterlands is the most popular game.
The NFT card game Splinterlands has become the most popular project in the GameFi industry. The number of users and transactions has progressively climbed and stabilized, according to Footprint Analytics statistics.
Splinterlands’ popularity stems from its easy gameplay and low entrance barrier. It uses a dual-currency architecture, similar to Axie Infinity and other games, to maintain the liquidity of money in the game and reduce the effect of token price changes in the secondary market.
As the most traded project, DeFi Kingdoms has surpassed Axie Infinity.
DFK beat Axie Infinity as the most traded software on March 29. Users’ trust was shaken by news of the assault on Axie Infinity, which was previously thought to be secure, and trade volume plummeted. As a consequence, Axie Infinity has had a difficult month, but it hopes to regain user faith by recovering $5.8 million in finances and debuting Axie Infinity Origin’s new arena game mode on April 7.
Footprint Analytics – Comparison of Users Axie Infinity and DeFi KingdomsFootprint Analytics – DeFi Kingdoms Monthly Retention Analysis
Despite the lack of VC backing, DeFi Kingdoms has a high monthly user retention rate and a strong daily user base because to its tokenomics and vision.
STEPN becomes the most popular DApp.
STEPN is the first successful Move-to-Earn game, and it has the potential to be the game that finally brings GameFi into the mainstream.
Users purchase NFT shoes and are compensated in game tokens for walking, jogging, or running. It makes exercising even more fun by introducing a shoe upgrading system.
STEPN has only been online for six months, yet its market capitalization has already topped $2 billion as of April 30. Axie Infinity is now experiencing a lack of new consumers, and STEPN may even outperform Axie Infinity’s market worth of $2.2 billion.
Footprint Analytics – STEPN and Axie Infinity Market Cap
According to Footprint Analytics, the price of the token GMT increased by 2100 percent in a short period of time, from Footprint Analytics data shows that the price of token GMT rose from $0.16 to $3.52, an increase of 2100% in a short period..16 to $3.52.
STEPN is without a doubt one of the hottest trends on the market right now.
While GameFi is inextricably linked to macro dynamics, with a drop in total agreements and users in April, particular initiatives have received encouraging news. STEPN has risen significantly, DFK has surpassed Axie Infinity as the most traded project, and Splinterlands’ daily active user count has stabilized.
Review of April Events
NFT & GameFi
On OpenSea, there’s a Louis Vuitton NFT Scam aimed for whales.
MoonPay’s new minting-as-a-service solution is dubbed “AWS for NFTs” by the company.
YGG SEA Raises $15 Million from High-Profile Investors to Expand P2E Gaming in Southeast Asia
After the launch of Moonbirds NFT, PROOF raises $10 million from Reddit’s Ohanian.
GMT, according to STEPN, is required for all high-quality shoe castings.
Metaverse & Web3
In Decentraland and the Sandbox’s Metaverse, Asian Billionaires’ Hotel Groups Create Virtual Lands
On the Avalanche subnet, Pocket Worlds will launch the Highrise metaverse.
SNACKCLUB Raises $9 Million in Seed Capital and Prepares to Launch DAO
Fundamental Labs and other VCs contribute $1 million to ForthBox’s seed round.
From 2021 to 2026, the Metaverse Real Estate Market is expected to expand by USD 5.37 billion.
DeFi & Tokens
In the Crypto Push, Goldman Sachs Offers Its First Bitcoin-Backed Loan
The airdrop distribution plan was disclosed by Evmos-based DEX EvmoSwap, with 11.5 million EMO airdrops.
$248.6 million in Bitcoin was sent from Coinbase to an unidentified wallet address.
A total of 7,831 bitcoins were transferred from Coinbase by anonymous whales.
Profit optimizer using fantasies A flash loan assault has struck Redemption.
Network & Infrastructure
A new billion-dollar crypto fund is backed by a16z, Solana, and other founders.
TON users donate $1 billion to save the environment, according to the foundation.
Flipside Crypto Raises $50 Million at a $350 Million Value
Over 1.8 million BNB worth $740 million will be burned by the BNB Chain.
In only one month, Cardano has added almost 100,000 wallets to its network.
Coinbase has introduced a new range of anti-fraud tools.
Binance Trading Volume Hits a Quarterly High of $440 Billion.
Bit Digital Files, a Bitcoin miner, plans to raise up to $500 million in equity.
Quantitative Trading Service to be Launched by the Owner of Brazil’s Largest Crypto Exchange
Voyager Innovations raises US$210 million to expand PayMaya and Maya Bank’s financial services ecosystem.
Nepal bans cryptocurrency websites and apps.
According to the US Banking Watchdog, stablecoins need to establish a common standard.
The Senate of Mexico has installed the country’s first Bitcoin ATM.
Malaysian cops blew up 1,773 Bitcoin ASIC miners.
London Has Become a Hotbed for Crypto Jobs
The Footprint Analytics community contributed this article.
The Footprint Community is a place where data and crypto aficionados from all around the globe get together to assist one another understand and learn about Web3, the metaverse, DeFi, GameFi, and other aspects of the emerging world of blockchain. Active, varied voices may be found here, supporting one another and pushing the community forward.
Date & Author: Apr. 2022, Vincy
Footprint Analytics – April 2022 Report Dashboard (data source)
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