DappRadar and BGA Games have just dropped their latest, highly anticipated blockchain games report. The report clearly shows that despite the bear market, blockchain games are the blockchain vertical that is successfully navigating the bear season. Here are the most important takeaways from the detailed report.
Let’s talk about the bear market
According to the Dapp Rader and BGA Games report, 1.15 million UAW interacted with blockchain games on average in May. This is only a 5 percent decline from April. This confirms blockchain games as one of the most exciting categories in the dApp industry.
Splinterlands is currently the top blockchain game.
Splinterlands maintains its position as the top blockchain game, with 350,000 daily UAW in May. For eight months in a row, Splinterlands attracted thousands of players through its dynamic trading card mechanics. Not only that, but the first 2,000 validator node licenses sold out in less than 15 minutes. This led to contributions of more than $4 million to the game’s DAO.
Illuvium generates $72 million from its first land sale
Despite current market conditions, Illuvium sold its first land plots. The 20,000 land plots sold generated 4,018 ETH, or about $72 million at the time of sale. In addition, Illuvium announced it will release a mobile version called Illuvium Zero. The mobile version will allow players to build an industrial virtual complex to mine resources.
Gala Games reveals major plans for the Galaverse ecosystem
Fresh from the Galaverse conference in Malta, the team unveiled exciting partnerships and shed light on upcoming milestones for its ecosystem. These announcements included the shooter game GRIT, which will be available in the Epic Games Store.
In addition, Project Saturn will become a Battlestar Galactic blockchain game running on the Gala Games ecosystem, while Gala Games will now host both Last Expedition and Forever Winter. The Mirandus Exemplars airdrop will also soon take place. This will reward MTRM and be considered for Mirandus’ next play test.
STEPN registers 2 million monthly users
Move-to-earn (M2E) games are emerging as the next big category of blockchain games. STEPN, the most popular M2E on the market, has 2 million monthly users. In addition, the entry barrier to the STEPN ecosystem is more accessible than ever, due to the decline in the floor price of the Sneakers and the price of SOL.
Blockchain games raised $1.4 billion in funding since May
So far this year, the blockchain gaming sector has raised $4.9 billion. This amount does not take into account the $600 million a16z has committed to the creation of the Games Fund One. A significant investment is the $725 million Dapper Labs raised to expand the Flow ecosystem.
Since May, companies have raised $1.4 billion. At the time of writing, 25.3% of this amount was raised by metaverse gaming projects themselves. 33.9% of the capital raised this year went to infrastructure projects.
This investment continues to solidify the importance of blockchain gaming in web3. Undoubtedly, this DappRadar and BGA Games report shows that we are on the verge of seeing some truly innovative blockchain games with immersive game mechanics that attract a wide range of users.