According to a recent Dapp Radar study, blockchain-based games raised $ 2.5 billion from investors in the first quarter of 2022. If this pace is maintained, total investment by the end of the year will be 150% higher than in 2021. In addition, in March, blockchain games attracted 1.22 million Unique Active Wallets (UAWs), accounting for 52% of industry activity.
Blockchain games are very popular
According to a DappRadar report CryptoPotatoIn the first quarter of 2022, prominent investors invested hundreds of millions of dollars in blockchain games and non-fungible token projects. One is the studio behind the NFT collection Bored Ape Yacht Club (BAYC) – Yuga Labs – Secure A $ 450 million fundraiser led by Andreessen Horowitz.
It is also worth mentioning the $ 200 million investment in Immutable-X (IMX) led by Temasek. The latter hosts two of the most popular blockchain games, Gods Unchained and Guilds of Guardians. Following the initiative, the company’s valuation exceeded $ 2.5 billion.
In total, blockchain games have raised $ 2.5 billion since the beginning of the year. Bold forecasts predict that overall investment in 2022 could reach $ 10 billion (assuming the pace is the same). Last year, the total amount of money invested in this sector reached $ 4 billion.
The number of unique active wallets (UAWs) remains stable. An average of 1.17 million UAWs connected to blockchain games in the first quarter, down 2% from the daily average in the fourth quarter of last year. Nevertheless, the March figures exceeded 1.22 million UAW per day.
Top games are still attractive to the player base, as Splinterlands, Alien Worlds and Crazy Defense Heroes saw an average of over 650,000 UAWs a day in March. 52% of all blockchain activity in the first quarter came from decentralized gaming applications.
On the other hand, interest in the Metaverse seemed to have cooled after the hype caused by the Metaverse. Brand change A few months ago. Virtual world trading volume fell 12% from the fourth quarter of 2021 to reach $ 430 million in the first quarter of 2022. The average price of land in the sandbox and decentraland has decreased by 40%, while transaction volumes have decreased by 60% on both platforms. 20% each.
Ronin Bridge Exploit
The biggest hack in crypto history is worth mentioning happened In the first quarter of the year. Last month, a hacker broke the Ronin Network’s security system and stole 173,000 ETH and 25.5 million USDC. At the time of the attack, this was worth over $ 600 million.
To support the investigation of the incident, Binance, the world’s largest crypto platform, blocked addresses by potential fraudsters and temporarily suspended all transactions on the Ronin network.
As part of that, Sky Mavis – the blockchain game project behind Ronin and Axie Infinity – has vowed to compensate victims who lost money due to the attack.