Lifted A.
A report by DappRadar and Blockchain Game Alliance revealed a surge in investments within the Web3 gaming sector in July.
The investments totalled $297 million, including those in the metaverse sector. This upswing in interest signals an increasing demand for pioneering blockchain gaming and virtual reality ventures.
Blockchain Gaming Emerges On Top With WAX As Its Frontrunner
In June, blockchain gaming experienced a decline in market dominance. However, it quickly regained its position as a significant participant in the dApp realm. Blockchain gaming has risen prominently, seizing the forefront by contributing 41% of on-chain dApp activity recently. A remarkable tally of 712,611 daily unique active wallets (dUAW) was logged, underscoring a sturdy involvement within this category.
WAX ascended as the frontrunner within blockchain gaming platforms, showcasing an impressive 300,325 dUAW. WAX serves as the backdrop for the popular Web3 game Alien Worlds. Furthermore, it also provides the setting for other trending games, such as Wombat Dungeon Master and Taco.
What Is So Special About The Genkai NFT Collection?
Prominent Ethereum-based NFT collection, CyberKongz, revealed some of its forthcoming anime-inspired Genkai NFTs on the Sky Mavis blockchain. There are 20,000 Genkai NFTs in supply. Although they initially performed well, these digital assets witnessed a trading volume surpassing $491,000.
Notably, the Genkai NFTs’ floor price encountered a substantial reduction, plummeting to 0.19 ETH. This development indicated a 24% decrease from its original mint value.
Gaming on Arbitrum Skyrockets!
Ethereum’s L2 solution, Arbitrum, has increasingly become a pivotal gaming platform in recent months. The company is aligning itself with the TreasureDAO gaming universe and incorporating the MAGIC token. This move is a significant boost for TreasureDAO, which recently disclosed a transaction volume exceeding $842,000. These funds accumulated from 73,580 transactions, resulting in an average transaction value of $11.4.
Investments Of $297 Million Poured Into Web3 Gaming
In June 2023, investments in Web3 gaming dropped, reaching an annual low of $68 million. Particularly, June posed many difficulties for various leading Web3 gaming projects, primarily instigated by the legal complications that the SEC brought upon Binance and Coinbase.
Infrastructure projects garnered most of the investments, totalling $187 million and constituting 63% of the total funding. Investments in games and metaverse ventures combined to achieve $110 million, encompassing the remaining 37%. For example, Animoca Brands invested $30 million in hi, which gained attention by revealing the first-ever NFT avatar-customized debit card.
With blockchain gaming at the forefront, NFT trends in flux, and investments mainly channelled into infrastructure, the upcoming months pledge a landscape of innovation and expansion at the crossroads of gaming and decentralized technologies.
