Investors Poured $2.5B Into Crypto Games in Q1 2022: Report – Decrypt

A new report by DappRadar and the Blockchain Game Alliance ( BGA ) suggests that 2022 will be a benchmark class for crypto games developers .
The report reveals that $ 2.5 billion in investments was raised in Q1 alone this class, adding that developers could see this figure balloon to $ 10 billion by the end of the year.

Compared to previous years, these figures besides suggest the niche has become a winder sector for investors. In 2021, for example, just $ 4 billion was raised throughout the whole class .
The investing swerve is besides supported by growing interest from crypto enthusiasts .
Blockchain bet on attracted 1.22 million alone active wallets ( UAW ) last month and presently accounts for 52 % of the blockchain industry ’ s activity .
According to the report, blockchain gaming activity has grown a sock 2,000 % from Q1 last year .

Cooling concern in the metaverse

There has besides been a rebuff cooling off in metaverse guess after a “ hype cycle ” sparked by Facebook ’ s rebranding to Meta in Q4 last year .
trade volume in metaverse projects has since declined 12 % to $ 430 million in Q1 this year .
The average price of virtual estate in Decentraland and The Sandbox—two of the biggest metaverse projects—sank 40 % from Q4 2021 to Q1 2022, while trade volume on each chopine dropped 20 % and 60 %, respectively .
finally, the report besides examined the effects of the $ 622 million Ronin hack, an attack that depleted money from the Ethereum sidechain treasury of open-world blockchain game Axie Infinity and its developer Sky Mavis .
Despite the hack, the report card suggests that Axie Infinity ’ s blockchain action had already been in decline from the start of 2022.

In January, Axie had over 55,000 alone active wallets. This figure declined throughout February and bottomed out at 20,000 UAW just after mid-march. interim, the Ronin overwork happened on March 23 but wasn ’ metric ton detected until March 29 .
Unique active wallets on Ronin from October 2021 to the end of March 2022. Source: DappRadar.
The general decline in bodily process and NFT trade book on Axie is attributed to changes to SLP nominal issue made by Sky Mavis to make Axie ’ s economy sustainable .
however, the developers previously said that bodily process and volume were in decline before the changes were made and that they restricted the in-game supply of SLP to curb the token ’ randomness inflation .
however, Axie is still one of the top crypto games based on casual usage, attracting over 1.5 million day by day active users .
As for recuperating funds from the cab, Binance led a recent $ 150 million financing round to reimburse victims of the Ronin bridge exploit and patch the bridge ’ s vulnerabilities .

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