Original author:lesley@footprint.network
In January this year, the blockchain gaming field ushered in explosive growth, and the number of active users increased significantly.
Blockchain games continue to integrate AI technology to improve player experience and expand their service scope. The issue of compatibility between public chains and games has also received increasing attention. Technological innovation is gradually changing the face of the blockchain gaming industry.
The capital markets enthusiasm for blockchain games continues to heat up, indicating the broad prospects of this field. However, it should be noted that investors remain cautious. In order to attract potential investors, the gaming industry needs more solid data performance.
The data in this report comes from Footprints Web3 Game research page. This is an easy-to-use dashboard containing the most important statistics and metrics for understanding the Web3 gaming industry, updated in real time. You can clickhereGet the latest information on pricing, projects, financing and more.
Market review this month
In January 2024, Bitcoin and Ethereum continued their upward trend, albeit at a slower pace. Bitcoin started the month at $42,303, rising slightly by 1.65%, and finally closed at $43,001; while Ethereum started at $2,283, rose by 2.77%, and closed at $2,346.
Market Cap: Game Tokens vs. BTC
The debut of U.S. spot Bitcoin ETFs in January 2024 marked a key moment for the crypto market. The ETFs’ daily trading volume of up to $210 million quickly attracted the attention of investors, reflecting the popularity of cryptocurrencies in the traditional financial ecosystem. Deeper integration. Despite rising market excitement, Bitcoin andEthereumThe price remains relatively stable, indicating that traders remain cautious after the ETF is approved.
At the same time, the focus of the broader crypto market has turned to exploring synergies between the crypto industry and AI. Against the backdrop of the Federal Reserve’s decision to keep interest rates stable,StablecoinSteady increase in market capitalization. This period marks a subtle evolution that the crypto space is undergoing, both in terms of institutional adoption through the approval of a Bitcoin ETF and in balancing considerations with continued expectations for macroeconomic and technological developments.
Blockchain gaming market overview
In January 2024, according toFootprint AnalyticsAccording to statistics, the average number of active users in the blockchain game field has surged by 54.67% compared with the annual average level in 2023, and the growth trend has begun to appear since November 2023. At the same time, the average number of active users in January increased by 14.42% from December. However, despite significant increases in user engagement and interest, the market was still affected by the previous bear market, with January’sTrading volume and valueIt has not fully recovered to the level of the same period last year.
The blockchain gaming industry is rapidly introducing artificial intelligence technology to generate images and enhance player experience. For example, Square Enix uses the AI image generation tool Midjourney for the character design of its new game to help the game environment become visually rich and interactive. Nvidia also mentioned Ubisofts use of AI technology to create more realistic and immersive non-player-controlled characters, which demonstrates the trend in the gaming industry towards a deeper immersive experience.
The blockchain gaming industry is also working to improve transaction processing capabilities to promote market growth and improve the quality and stability of games. The Solana network encountered congestion issues during the Jupiter airdrop, which exposed deficiencies in transaction processing. The game Crypto Unicorns was moved to Arbitrums Xai network due to rising operating costs and impaired player experience due to surging gas costs on the Polygon network.
Blockchain game public chain data
Players are ranked based on their activity,Ronin、NearandBNB ChainIt has become the blockchain platform with the largest number of active users, accounting for 29.9%, 10.2% and 9% of the total respectively. In terms of trading volume, BNB Chain, Ronin andEthereumBe among the best.
January,RoninThe trading volume and the number of active users have increased sharply. Compared with December, the trading volume surged by 213.41%. This growth is driven by continued improvements to the platform and the expansion of its ecosystem. Ronins game wallet has added support for mainstream blockchains such as Ethereum, Polygon and BNB Chain. This month, it also activated the platforms activities through airdrops of projects such as Pixels and Apeiron.
As the gaming industry grows, new blockchain infrastructure is being designed to meet its specific needs. Key players in the industry are leading the development of innovative infrastructure. Among them, TreasureDAO is a striking example. As a pioneer of blockchain focusing on games, it is striving to develop its own public chain. At the same time, BNB Chain’s NFT market Tabi is about to launch Tabi Chain, which is planned to be launched on Cosmos and focus on the gaming field.
Blockchain Games Overview
The total number of blockchain games increased from 2,081 in January 2023 to 2,877 in January 2024, however, the proportion of games with more than 1,000 users (unique wallets/addresses) decreased from 11% to 8%.as shown by data, although the number of games has increased, it has not been accompanied by a simultaneous improvement in quality.
Jon JordanThe list data of large-scale blockchain games reveals the high volatility of the blockchain game industry. In 2023, 31% of games (407 out of 1,322) ceased operations due to financial pressure and market challenges. Regulatory uncertainty also complicates the situation.
Anichess
Despite the challenges, the blockchain gaming industry is still making progress. Animoca Brands has launched Anichess, a decentralized chess game that brings new life to the traditional game.AzukiIt plans to enter the gaming industry by launching a hyper-casual mobile game featuring BEANZ later this year. Yuga Labs is also preparing to release the Dookey Dash Unclogginged game in early 2024.
Bomb Crypto、SingularityThe token value of three games, Blockchain Brawlers and Blockchain Brawlers, has soared by more than 200% this month. This not only demonstrates their long-term commitment to the development of the gaming field, but also demonstrates their ability to retain users through the bear market.
Other games also performed well.StarryNiftIn January, it became the leader in attracting new and active users on the BNB chain, setting a record high for wallet transactions. last month,YuliverseandSmart CatsThe performance is particularly good on the Polygon network. at the same time,CarvThe wallet also reported an all-time high in the number of transactions.
Blockchain game investment and financing situation
Web3 social game Forgotten Playland has completed a $7 million seed round of financing.
Arcade 2 Earn has raised $4.8 million for its P2E platform in a funding round led by Crypto.com Capital.
AOFverse raises $3 million from The Arbitrum Foundation.
Triple-A gaming platform SkyArk Chronicles raises $15 million.
Nebula Revelation raised $4.5 million on January 10, 2024.
3 thix, a monetization platform for Web3 games, raises $8.5 million.
Abyss World developer Metagame has raised funding at a $100 million valuation.
Little Dragon has completed a pre-seed round of funding.
Ta-da has raised $3.5 million in funding and is ready to launch.
The game studio behind Matr1x Fire has raised $10 million for its NFT mobile shooter.
Mon Studios has raised a $1.4 million funding round.
The gaming industry is becoming increasingly popular, but investments tend to be rational, and investment events with particularly high financing amounts have not been seen. Notably, AAA gaming platform SkyArk Chronicles successfully raised $15 million. Other notable investments include the upcoming Web3 social game Forgotten Playland and the space-themed open world game Nebula Revelation.
Multiple game platforms and developers received financial support, including Arcade 2 Earn, Abyss World, ArenaX Labs, 3 thix, 10 n 8 Little Dragon and Ta-da. Ta-da is an entertainment-oriented Web3 artificial intelligence data market that has received US$3.5 million in financing.
Game developers such as AOFverse, Matr1x and Mon Studios also received investment. These developments demonstrate the growing interest within the crypto industry in applying blockchain technology and Web3 to gaming.
news of the month
Animoca Brands partners with iCandy to launch Snaky Cat.
Treeverse studio Endless Clouds has chosen Immutable zkEVM as the basis for its NFT game.
Animoca Brands announces the release of chess game Anichess.
GameStop (GME) is shutting down its NFT market.
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