We know that this is not a good time in general for the economy. However, is it true that mobile gaming is being affected? What is really happening in the crypto and NFT market?
Well, according to the trend, crypto users have not decreased despite the situation but, in many of the cases, have been motivated. Let's look at several reports, mostly from DappRadar, which indicate that NFT games are not only keeping the majority of their users but that trading among them has increased. Finally, we can also note that investments in crypto games and metaverse projects continue to increase. In 2022, a total of $7.6 billion will be invested in blockchain games, more than twice as much as in 2021, which was $3.7 billion
The blockchain gaming industry has faced its fair share of challenges in 2022, but from the half of 2022 the market has started to consolidate. The number of unique active wallets (UAWs) in the blockchain gaming sector has increased this year 60%, reaching 1.15 million dUAW on average. Gaming represents 49% of all daily blockchain activity.
[data:image/svg+xml;charset=utf-8,%3Csvg height='646' width='1088' xmlns='http://www.w3.org/2000/svg' version='1.1'%3E%3C/svg%3E](data:image/svg+xml;charset=utf-8,%3Csvg height='646' width='1088' xmlns='http://www.w3.org/2000/svg' version='1.1'%3E%3C/svg%3E)
Blockchain gaming is becoming an increasingly popular area for investment, with the total capital raised in the space growing exponentially in recent years. The total capital raised in 2019 was $27.7 million, which increased to $191 million in 2020. In the following year, the total investments in the blockchain gaming space reached $3.7 billion. In 2022, the total capital raised reached a staggering $7.6 billion, which clearly indicates that interest and confidence in the space is growing.
The gaming industry has always been a thriving and popular market, attracting 2.69 billions consumers from across the world and responsible for a yearly revenue of 103.5 billions. Gaming has outpaced the movie industry years ago. With the rise of blockchain technology and cryptocurrencies, gaming tokens have become increasingly popular in recent years. In January 2023 the surge of the top gaming tokens was nothing short of impressive.
According to market data as of January 31, ApeCoin leads the pack with a market capitalization of $2,112,042,188 and a percentage increase of 51.99% from the beginning of the month. Following closely behind is SAND, with a market capitalization of $1,254,095,738 and a percentage increase of 86.64%. But the biggest winner of them all is GALA, with a market capitalization of $384,667,325 and a whopping percentage increase of 218.75% from the beginning of the month. Other notable gainers include IMX, MAGIC, and AXS.
[data:image/svg+xml;charset=utf-8,%3Csvg height='669' width='1088' xmlns='http://www.w3.org/2000/svg' version='1.1'%3E%3C/svg%3E](data:image/svg+xml;charset=utf-8,%3Csvg height='669' width='1088' xmlns='http://www.w3.org/2000/svg' version='1.1'%3E%3C/svg%3E)