The article provides a comprehensive analysis of the web3 gaming market for May 2023. It highlights the decline in Unique Active Wallets (UAWs) and the decrease in NFT secondary market transactions. The report also discusses the lack of significant fundraising for web3 gaming companies, with Illuvium being the only game to secure funding. The report further discusses the performance of various games such as Iskra, Oath of Peak, Alien Worlds, Benji Bananas, and Splinterlands, among others.
- Monitor Market Trends: There is a general downward trend in the web3 gaming metrics, with most games experiencing a decline in UAWs. This trend needs to be closely monitored to understand its long-term implications.
- Assess Investment Opportunities: The report indicates a shift in interest from game projects to other areas such as tech infrastructure and AI. This shift presents potential investment opportunities in these emerging areas.
- Understand Game Performance: The performance of individual games such as Iskra, Oath of Peak, Alien Worlds, Benji Bananas, and Splinterlands provides insights into the factors influencing their success or failure. These insights can guide future game development and marketing strategies.
- Stay Informed on Fundraising Events: The report highlights a significant downturn in fundraising for web3 gaming companies. Staying informed on these events can provide insights into the financial health and sustainability of these companies.