Blockchain gaming continue to grow aggressively in the bear market with a whooping $2.5B investments in the second quarter of 2022 while blockchain activity takes a slight setback.
Blockchain games and game-related NFTs have performed better during the bear market than other crypto verticals and have not been as negatively impacted. The sector experienced a downturn in June after outstanding performance peak in May. The macroeconomic pressures are causing great distress in several sectors of the cryptocurrency market. Infrastructure in the DeFi and NFT was pulled back as a result of the collapse of the Terra ecosystem and its domino consequences. Blockchain games have done very well in the turbulence.
source: DappRadar
A16 Investment makes a bullish move into blockchain games
A16 Investments, also known as Andersen Horowitz, is a well-known venture capital firm that focuses on developing technology. They revealed the launch of a $4.5 billion cryptocurrency fund 4 in May of last year. The fund will support a wide variety of initiatives. Web3 games, DeFi, layer 1 and 2 infrastructure, bridges, DAOs, NFT communities, and creator monetization are the most notable features. With the addition of this fund to their current portfolio of investments, A16 has now raised $7.6 billion to support the development of web3. See also “VCs showing massive interest in play-to-earn gaming industry”
In extreme market conditions investors show a strong indicator to continue funding blockchain games. In Q2, investments totaled $2.5 billion, continuing the pace from Q1. The investments have already exceeded the 4 billion yearly benchmark established in 2021. The total investment for 2022 has already surpassed the figure for 2021 by 33%.
source: DappRadar
52 percent of all blockchain activity is driven by web3 games
Since the previous quarter, blockchain games have slightly boosted their already sizable share of blockchain activity by three percentage points. With approximately 1.1 million Unique Active Wallets (UAWs) in Q2, gaming accounts for 52% of all UAWs. Blockchain games activity has grown by 232 percent when compared to the second quarter of 2021, leaving other categories in the dust.
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