GameFi Slides on Macro Trends but Individual Projects Shine | April Monthly Report

In April, GameFi crippled projects grew from 1,406 to 1,479, a monthly summation of 5.2%, with maturation concentrated successful the BSC and Polygon chains. Monthly progressive users were 9.22 million, and transaction measurement was $34.37 million. But compared to March, progressive users and transaction measurement fell by 24.9% and 73.4%, respectively.

However, contempt declining users and trading volume, immoderate GameFi projects continued to execute well. For example, STEPN was the hottest DApp connected the crypto market, Splinterlands ranked #1 successful regular progressive users, averaging implicit 350,000 regular users, and DeFi Kingdoms surpassed Axie Infinity arsenic the astir traded GameFi project.

Here’s a look astatine GameFi’s wide show successful April by the numbers.

GameFi Market Overview

GameFi projects grew 5.2% MoM, with maturation concentrated successful BSC and Polygon

According to Footprint Analytics, arsenic of April 30, 38 blockchains participated successful the GameFi sector, with 1,479 crippled projects, up 5.2% MoM.

Footprint Analytics – Number of GameFi Protocols by Chains

Ethereum’s task number successful the GameFi ecosystem is not increasing arsenic accelerated arsenic connected the BSC and Polygon chains. The projects connected BSC and Polygon person go immoderate of the astir fashionable games successful the crypto marketplace today. They see Bomb Crypto and Mobox connected BSC, Crazy Defense Heroes, and Pegaxy connected Polygon.

Developers similar BSC and Polygon for games due to the fact that of their debased state fees, precocious throughput, and the aforesaid precocious information arsenic Ethereum. The fig of projects connected Ethereum is gradually divided by blockchains specified arsenic BSC, Polygon, and WAX, attracting a ample fig of crippled users and projects.

Footprint Analytics –  Monthly Number of Games by Chain

Active users down 24.9% MoM, Gamefi’s transaction measurement down

As of April 30, the full fig of progressive users was 9.22 million, of which 780,000 were caller users. Compared to March, the fig of progressive users decreased by 24.9%.

Since October, the fig of caller and progressive users has declined adjacent though the fig of games has increased.

Footprint Analytics – Monthly Gamers Trend

However, immoderate games person seen increases successful caller users. For example, the Polygon gaming ecosystem saw 25% much caller users, led by Crazy Defense Heroes and Pegaxy.

Footprint Analytics – GameFi New Users by Chain

According to Footprint Analytics, trading volumes spiked from October to November, exceeding $510 cardinal per day. However, GameFi trading measurement has been successful a slump owed to macroeconomic trends since January. Per wallet, trading measurement has gradually dropped from $105 to $20.

In addition, the Axie Infinity hack successful mid-February importantly impacted progressive users and trading volume—it caused users to suffer implicit $615 cardinal worthy of ETH and USDC.

Footprint Analytics – GameFi of Volume Trend

Footprint Analytics – GameFi Volume and Transactions per User

Nearly $2.4 cardinal raised successful GameFi, up 381% MoM

Data shows that April saw the astir important magnitude of backing crossed the blockchain sector, with $6.62 cardinal invested. The GameFi sector accounted for 36.3% of that total, with $2.4 cardinal successful investment. Compared to March, GameFi saw a 381% increase.

Footprint Analytics – Funding-Monthly Investment Trend

Web3 saw the largest investments successful the GameFi concern sector, with the STEPN Web3 project, which combines elements of GameFi and SocialFi, the astir notable project.

Footprint Analytics – Gaming Financing Distribution

GameFi Data is Underperforming, Still Have Excellent Games

While macro trends are unfavorable, respective projects performed good successful April. Splinterlands ranked archetypal successful the fig of regular progressive users for much than 3 months, with mean regular mean users of much than 350,000. DeFi Kingdoms surpassed Axie Infinity to go the largest GameFi task by transaction volume. STEPN has go the hottest DApp successful the crypto marketplace with its Move-to-Earn.

Footprint Analytics –  Top 10 Games Ranking by Users (April 30)

Footprint Analytics –  Top 10 Games Ranking by Volume

Splinterlands holds the #1 spot with 350,000 regular users

Splinterlands, an NFT paper game, has go the astir fashionable task successful the GameFi sector. According to Footprint Analytics data, the fig of users and transactions has gradually accrued and stabilized.

Footprint Analytics – Splinterlands Users & Transactions

Splinterlands has proven fashionable with its elemental gameplay and debased obstruction to entry. And similar Axie Infinity and different games, it adopts a dual-currency model, which has stabilized the liquidity of funds successful the crippled and minimized the interaction of token terms fluctuations successful the secondary market.

DeFi Kingdoms surpasses Axie Infinity arsenic the astir traded project

On March 29, DFK surpassed Axie Infinity arsenic the astir traded program. News of the onslaught connected Axie Infinity, which was considered safe, shook users’ confidence, and trading measurement fell disconnected a cliff. As a result, it’s been a pugnacious period for Axie Infinity, and hopefully, it volition beryllium capable to reconstruct idiosyncratic assurance successful the crippled by recovering $5.8 cardinal successful funds and launching Axie Infinity Origin’s caller arena crippled mode connected April 7.

Footprint Analytics – Comparison of Users Axie Infinity and DeFi Kingdoms

Footprint Analytics – DeFi Kingdoms Monthly Retention Analysis

Although DeFi Kingdoms has nary VC funding, they support a monthly idiosyncratic retention complaint and a coagulated regular idiosyncratic basal done their tokenomics and roadmap. 

STEPN becomes the hottest DApp 

STEPN is the archetypal palmy Move-to-Earn crippled and has existent imaginable to beryllium the long-awaited crippled that makes GameFi mainstream.

Users bargain NFT sneakers and get paid successful the game’s tokens to walk, jog oregon run. It further gamifies workout by creating a strategy of sneaker upgrades. 

STEPN has been online for little than six months and, arsenic of April 30, its marketplace headdress has surpassed $2 billion. At present, Axie Infinity has fallen into the concern of insufficient caller users, and STEPN whitethorn adjacent transcend the marketplace headdress of Axie Infinity of $2.2 billion.

Footprint Analytics – Market Cap of STEPN and Axie Infinity

Footprint Analytics information shows that the terms of token GMT roseate from $0.16 to $3.52, an summation of 2100% successful a abbreviated period.

Footprint Analytics – Trading Volume vs Price of STEPN

There is nary uncertainty that STEPN is presently 1 of the blistery trends connected the market. 

Summary

While GameFi is unavoidably tied to macro trends, seeing an wide diminution successful deals and users, idiosyncratic projects person seen affirmative quality successful April. STEPN has grown immensely, DFK overtook Axie Infinity arsenic the astir traded project, and Splinterlands stabilized its regular progressive idiosyncratic base.

April Events Review

NFT & GameFi

• There’s A Louis Vuitton NFT Scam Targeting Whales connected OpenSea
• MoonPay’s caller minting-as-a-service instrumentality bills itself arsenic ‘AWS for NFTs’
• YGG SEA Secures $15M from Marquee Investors to Boost P2E Gaming successful Southeast Asia
• PROOF Raises $10M From Reddit’s Ohanian After Moonbirds NFT Launch
• STEPN says GMT is indispensable for each prime footwear castings

Metaverse & Web3

• Asian Billionaires’ Hotel Groups Build Virtual Lands In Decentraland And The Sandbox’s Metaverse
• Pocket Worlds to motorboat Highrise metaverse connected Avalanche subnet
• SNACKCLUB Secures $9M successful Seed Funding, Preps to Launch DAO
• ForthBox Closes US $1 Million Seed Round, funded by Fundamental Labs and different VCs
• Metaverse Real Estate Market to turn by USD 5.37 cardinal from 2021 to 2026

DeFi & Tokens

• Goldman Offers Its First Bitcoin-Backed Loan successful Crypto Push
• Evmos-based DEX EvmoSwap announced the airdrop organisation plan, with 11.5 cardinal EMO airdrops
• $248.6 cardinal successful BTC transferred from Coinbase to chartless wallet address
• Anonymous whales transferred a full of 7,831 bitcoins from Coinbase
• Fantom-based nett optimizer Redemption deed by flash indebtedness attack

Network & Infrastructure

• Founders from a16z, Solana, and much backmost a caller billion-dollar crypto fund
• TON Users Donate $1B to Advance Ecosystem, Foundation Says
• Flipside Crypto Raises $50M astatine $350M Valuation
• BNB Chain to pain implicit 1.8 cardinal BNB, worthy astir $740 million
• Cardano adds astir 100,000 wallets to its web successful a month 

Institutions

• Coinbase launches a caller enactment of products to mitigate fraud
• Binance Trading Volume Soars More than $440 Billion successful Quarterly High
• Bitcoin Miner Bit Digital Files to Raise Up to $500M successful Equity
• Owner of Brazil’s Largest Crypto Exchange Plans to Launch Quantitative Trading Service
• Voyager Innovations Raises US$210M to Expand the Financial Services Ecosystem of PayMaya and Maya Bank

Worldwide

• Nepal Shuts Down Crypto Websites, Apps
• Stablecoins Need to Set a Common Standard, Says US Banking Watchdog
• Mexico’s Senate Has Placed Its First Bitcoin ATM
• Malaysian Police Destroy 1,773 Bitcoin ASIC Miners
• London Becomes Hot Job Market for Crypto Industry

This portion is contributed by Footprint Analytics community.

The Footprint Community is simply a spot wherever information and crypto enthusiasts worldwide assistance each different recognize and summation insights astir Web3, the metaverse, DeFi, GameFi, oregon immoderate different country of the fledgling satellite of blockchain. Here you’ll find active, divers voices supporting each different and driving the assemblage forward.

Date & Author: Apr. 2022, Vincy

Data Source: Footprint Analytics – April 2022 Report Dashboard

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