Research Summary
The report provides an in-depth analysis of the web3 gaming sector, focusing on the performance of various games and platforms such as GameFi, Immutable, Sandbox, Star Atlas, Base Games, and Crypto Unicorns. It highlights key metrics such as active wallets, market capitalization, transaction volumes, and user engagement.
Key Takeaways
Web3 Gaming Sector Growth
- Active Wallets Increase: The web3 gaming sector saw a 19% month-on-month increase in active gaming wallets in November, reaching 1.3 million. This growth indicates a rising interest in blockchain-based gaming.
- GameFi Market Capitalization: The aggregate market capitalization of GameFi reached 10% of Bitcoin’s total value for the first time in December, demonstrating the sector’s significant growth.
Platform Performance
- Immutable’s Popularity: Over 220 games are being built on the Immutable ecosystem, making it a popular choice for game developers. The platform’s partnership with Polygon and Merit Circle/Beam has led to 56 games migrating to Immutable during the year.
- Sandbox Land Volume: Sandbox Land, running on both Ethereum and Polygon, crossed $110 million in volume, with the floor price increasing by 50%. However, 90% of all wallets holding Sandbox Land are currently underwater.
Game Performance
- Star Atlas Transaction Volume: Star Atlas, a virtual gaming metaverse built on the Solana blockchain, accounts for over 8% of Solana’s daily transaction volume. The game has over 6,000 daily active users.
- Crypto Unicorns Growth: Crypto Unicorns, a blockchain-based game centered around NFTs, saw $1.6 million in marketplace volume and over 2.6 million in-game events over the past 30 days. The game has 2.3k monthly active players, a 13% increase from the previous month.
Actionable Insights
- Monitor the Growth of Web3 Gaming: The significant growth in active wallets and market capitalization in the web3 gaming sector indicates a rising interest in blockchain-based gaming. Stakeholders should monitor this trend for potential opportunities.
- Assess Platform Performance: The popularity of platforms like Immutable and Sandbox Land suggests that these platforms could offer potential growth opportunities. Stakeholders should assess the performance of these platforms to understand their potential.
- Understand Game Performance: The performance of games like Star Atlas and Crypto Unicorns can provide insights into user preferences and trends in the gaming sector. Stakeholders should analyze these trends to inform their strategies.
