Gamefi Sector Down, But Not Out

Gamefi

Gamefi had 1.46 million total users, a 26.9% MoM decline. The number of new users also gradually decreased by 34.1%. GameFi marketplace volume declined 30.3% MoM, with a $166 million decrease in transaction volume.

VC investment in the GameFi sector was down 57.7% MoM. The number of GameFi games stood at 1,557, up 2.9% MoM. Newly released Game-Fi projects include MIND Games, Fishing Lands and Fantom Survivor. They currently have very few transactions and users.

Although the market is in extreme fear, it has not stopped new projects from emerging. Financing was down by $239 million, or 57.7%, from May. In terms of the number of financing rounds, there were more seed rounds than any other type.

Capital mainly flowed to the Web3 and NFTs categories. One Web3 project, Wildcard, received $46 million, making it one of the few dark horses in the bear market. Cryptoys, a digital, collectible NFT toy project, closed a $23 million round led by a16z.

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