Original author:Calmdonut
Compilation of the original text: Deep Tide TechFlow
Original author:
Compilation of the original text: Deep Tide TechFlow
The crypto gaming sector has fallen more than 60% since the start of the year, in line with the overall cryptocurrency market downturn. What the hell happened to Web3 games? This article gives you an overview of the overall environment for Web3 games today.
DeFi：-62%
GameFi：-63%
GameFi has underperformed both markets/DeFi by market cap:
Overall Market: -47%
The relationship between declining market capitalization and increasing trading volume suggests a massive market sell-off for GameFi tokens between February and May 2022.
There are about 1,575 projects in the entire game market, about 40% of which are concentrated in BSC, 26% in Ethereum, and 15% in Polygon. Game-specific chains like ImmutableX, Gala Games, WAX, Enjin, and WemixNetwork only have a market share of 1% to 6%.
And, only 33% of GameFi projects are playable right now, and 65% are still in development.
The reason for this may be because most gaming-related projects have received about $12 billion in funding so far in 2021. In the next 2-3 years, we will see more games coming online.
38% of GameFi projects choose web browsers to host their games, followed by mobile (37%) and PC clients (24%).
Many game project developments center around action and role-playing. And recently hyped Web3 games, like Move-to-Earn (like Stepn, Genopets, and SweatEconomy) and idle games (AxieInfinity, illuvium), actually occupy a very small position in the gaming sector, accounting for less than 4% of all GameFi projects. %.
The best performing gaming tokens so far are GMT from StepN (+615%) and BNX from Binary (+115%); worst performing tokens are THG from ThetanArena (-98%) and CRA from PlayCrabada ( -97%).
Note: In this comparison, good token price = good game.
In the past 30 days of NFT sales, 4 of the top 5 NFT collections on Ethereum are Yuga Labs’ PFP, and Sorare is the only game-related NFT, but in other chains, the top 5 NFTs are all game-related NFTs!
Still, these NFTs don't tell much about the game's popularity. In fact, the popularity of NFT related to games has been much lower than that of PFP and art. There are so many transactions of game NFTs, which also shows that these NFTs have a huge turnover, and people are not willing to hold them for a long time.
Therefore, the measure of a game's popularity is actually its number of players. But 99% of "Web3" games are operated off-chain, so this game indicator is actually opaque.
Instead, we use Daily Active Addresses (DAA) to measure in-game smart contract-related activity (e.g. minting, trading, staking).
AlienWorlds
AxieInfinity
Solitaire Blitz
splinterlands
UplandMe
From the perspective of DAA, the game rankings have changed now.
The top five blockchain games by DAA are:
As mentioned earlier, good token price = good game. While Alien World's TLM has trended down over the year, its DAA has increased (or rebounded midway) over the same period, an inverse relationship that suggests its players have no financial incentive to play the game.
All in all, the versatility of tokenomics should be suitable for game design, including as a psychological tool, not just a "earning" mechanism.
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