GameFi has no crypto winter, says new report | TechBuzz

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GameFi does not know the crypto winter. The games and the metaverse are doing very well, the investments are still substantial.

Blockchain and its many associated technologies can be found in many areas today. Unfortunately, currently the markets are very difficult, the crypto winter is raging. And it hurts many cryptocurrencies and many projects. The GameFifor its part, does not seem to know the crisis.

GameFi does not know the crypto winter

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According to the latest DappRadar x BGA Games Report #5, GameFi and the metaverse are doing very well. Several projects have been covered in detail in this report. Splinterlands, Illuvium, Galaverse and STEPN have continued to attract new players, generate genuine financial interest and grow.

For DappRadar, it’s the utility underlying the gaming aspect itself that makes the difference. Projects have started using non-fungible tokens (NFTs) and cryptocurrencies other than for pure speculation. For example, Project STEPN’s NFT shoes can be bought and sold in the STEPN metaverse, providing an incentive in addition to the physical exercise aspects of the game.

The games and the metaverse are doing very well, the investments are still substantial

Also according to the report, the game itself demonstrates its usefulness in the context of the metaverse. While bitcoin was down in early June, the game Illuvium nevertheless sold 20,000 plots of land, for 4,018 ETH in revenue to developers. Splinterlands, meanwhile, has had 350,000 daily unique active wallets since May, down slightly (4%) from April, but still very good numbers.

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Investments have not faltered either. A16z and Dapper Labs have invested $1.3 billion in GameFi and the metaverse. The Flow blockchain, meanwhile, received $725 million from Dapper Labs to expand its business around the metaverse, like NBA Top Shots.

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If the metaverse is still in its infancy and there are still many challenges to tackle, the fact that investments continue to arrive and that players continue to respond is a good indicator of interest and therefore evolution.

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I am admin of blog & I provide tech-related news. As a part of my hobby, I make content related to technology and gadgets reviews too. I love to be a content creator apart from it, I am a full-time employee in an MNC company and manage blogs systematically. You can mail me at [email protected]

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