May Web3 Game Monthly Report: There are traces of growth, but the dilemma is still there
Original author: lesley@footprint.network
Original author: lesley@footprint.network
On May 13, Line's NFT subsidiary plans to release five NFT games in 2023. More and more game developers and projects are emerging, and web3 games are no longer just a symbol of speculation, but more and more project parties are deeply involved in it. However, the decline in transaction volume and the decrease in the number of users shows that real web3 games are still scarce.
click hereclick hereFind the latest information on GameFi-related prices, individual projects, funding rounds, and more.
Find the latest information on GameFi-related prices, individual projects, funding rounds, and more.
article main points
Cryptocurrency macro overview
Bitcoin (BTC) opened May at $28,074, peaked at $29,528 on May 5, and then fell to $27,223 on May 31.
Web3 Games Market Overview
The overall transaction volume of the Web3 game market showed a downward trend, and the number of users also dropped sharply at the beginning of this month, and only slightly recovered in mid-May.
The total number of active games on the market increased to 1,004, compared to 979 in March and 1,001 in April, with more and more new games coming to users' attention.
Web3 game public chain data situation
In the web3 game market, the three public chains BNB Chain, Ethereum and Polygon dominate, and the games on these chains account for 75% of the total number of games.
At present, the number of daily active users in the chain game market remains at around 900,000. Polygon users spiked in late April and early May before returning to normal levels.
Web3 Game Project Overview
Axie Infinity maintained its lead with $6.6 million in transaction volume.
In terms of token prices, Zodium’s token topped the list with a 130% gain in May
Overview of Web3 game investment and financing
Total funding raised in May reached $79.1 million, up 76% from $45 million the previous month.
But compared to April, funding rounds dropped to eight from 12 in May.
Cryptocurrency macro overviewBitcoin (BTC)
May opened at $28,074, peaked at $29,528 on May 5, before falling to $27,223 on May 31. For the month, the price of bitcoin has edged down 0.5%.
However, Bitcoin, which is a good indicator of whether the market is good or bad, is up more than 64% so far this year (from $16,605 on January 1). The same trend is true for Ethereum (ETH), which is down less than 1% in May and is up 58% year-to-date.
However, the market should not be lulled into a false sense of security by the fact that the current price trends of Bitcoin and Ethereum are flat. This month, Bitcoin’s on-chain transaction volume has dropped significantly by 13.3%. This indicates that Bitcoin has seen a decrease in transaction activity.
Web3 Games Market Overview
Web3 Game Daily Txns & Daily Active Users
Footprint AnalyticsThe Web3 game market in May has slowed down, which is related to the cryptocurrency market sentiment and the uncertainty of the global economy.
The data shows that the overall transaction volume of the Web3 game market is on a downward trend, and the number of users also dropped sharply at the beginning of this month, and only picked up slightly in mid-May. This decline is manageable and not an absolutely bad sign, but rather gives Web3 games a chance to solidify and improve their technology and design before the next wave arrives.However, game developers are not stopping. By the end of May, the total number of active games on the market increased to 1,004, compared with 979 in March and 1,001 in April, and more and more new games are coming to users' attention. MayThe number of new games launched in the market
That's a slight increase to 60, bringing the total number of games on the market to 2,381.
While the number of new games picked up in May, the pace of growth was slower. As the hype effect of games fades, high-quality games with solid gameplay and a sound token economy may gain more attention and lead a new round of market growth in the future.
Web3 game public chain data situationIn the web3 game market, BNB Chain, Ethereum and PolygonThree public chains
Dominant, games on these chains account for 75% of the total number of games.The current chain game marketDaily Active Users
Keep it around 900,000. Polygon users spiked in late April and early May before returning to normal levels. This suggests that Polygon had an influx of short-term users, possibly due to a marketing campaign, that didn't produce long-term results.
The SUI blockchain has a promising future, as Mysten Labs raised $300 million last year to offer high-end games on the Sui Layer 1 blockchain. With the mainnet launch of the SUI chain on May 3, it is expected to increase its influence and provide a platform for a better immersive gaming experience.
The cold winter of the market is the best time to improve the quality of the project.
Although the overall cryptocurrency market is still volatile, high-quality projects with strong fundamentals should continue to attract users on their own merits, rather than attracting attention through speculation or manipulating market sentiment.
Although the overall cryptocurrency market is still volatile, high-quality projects with strong fundamentals should continue to attract users on their own merits, rather than attracting attention through speculation or manipulating market sentiment.
Web3 Game Project Overview
Daily trends - Ranking & Trends
In May, Zodium’s tokens ranked first with a 130% increase, followed by Taroverse and Victoria VR. However, a significant price increase alone does not determine the profitability of a project.
It should be noted that the projects with large increases are not high-profile projects, which shows that the price increase is driven by hype and speculation, rather than the strong support of the project's own design and user base. Merely the rapid price increase does not prove the high quality and sustainability of the project.
In terms of active users, on May 31, Alien Worlds led with 233,684 active users, followed by Sweat Wallet with 90,189 active users, and Splinterlands with 74,876 active users. An impressive feat in a bear market.
Monthly Gaming Fundraising Amount & Times
Overview of Web3 game investment and financingMay'sTotal financing
It reached $79.1 million, up 76 percent from $45 million last month, but compared to April, funding rounds fell from 12 to eight.
The large investment amount reflects investors' confidence in the industry and recognition of its long-term potential. However, the total number of financings fell slightly, indicating that the market remains subdued.
The most eye-catching investment events this month include the financing of M 80, Pomerium and Illuvium, which raised USD 3 million, USD 20 million and USD 10 million respectively. These projects performed well despite the overall market sentiment. These projects deserve continuous attention.
The game financing data in May shows that although the trading market remains flat, the capital market’s long-term confidence in blockchain games remains firm. Amid the turmoil in the market, the projects that survived were more promising.
web3 gaming news of the month"Line discloses five"player first
of NFT games will be released in 2023
Blockchain game Illuvium completes $10 million in financing led by Framework Ventures
Axie Infinity: Origins will be available in the Apple App Store in Latin America and selected countries in Southeast Asia
Axie Infinity Introduces PFP Avatar Minting Capabilities for Digital Identity Proof
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