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A lot happened at GameFi last year.
While Axie Infinity and The Sandbox made the most headlines, several lesser-known projects won all the players.
BNB and the Ethereum Foundation have become the most influential organizations in the blockchain industry, but the BNB and Ethereum ecosystems have attracted few of the best or most active games.
Despite dozens of popular titles falling into a death spiral and hundreds failing to attract a small number of players, GameFi has drawn more investment from VCs than any other category in the blockchain industry. received.
It’s hard to wrap your head around. How should we make sense of 2022 to prepare for next year?
Instead of telling you what to think, we’ve compiled the most exciting stats related to the GameFi industry so you can look at projects, chains and funds and draw conclusions from the data.
We use several metrics and statistics to evaluate blockchain games: active users, total users, monetary value, and number of transactions.
However, these metrics are disjointed. In other words, a game or chain that performs strongly from one metric does not necessarily lead on another. For example, in this past year, Axie Infinity got the most volume, Splinterlands got the most active users, STEPN got the total users, and DeFi Kingdoms got the most transactions. .
There is no single metric that indicates that blockchain gaming is winning or leading the industry. Each metric provides insight into a specific aspect and, together with others, helps analysts build the big picture.
1. The market cap of all GameFi tokens peaked at $25 billion on April 1st.
This was $11 billion below the November 2021 industry ATH of $36 billion. Footprint Analysis tracks this metric by combining the market cap of tokens used as governance tokens with the in-game currency of the GameFi project.
reference: GameFi token market cap (Tokens only, excluding gaming NFTs)
2. Developers Released 717 New Blockchain Games in 2022
They launched about the same number in 2021. In total, there are 2,171 GameFi protocols transacting on the blockchain (only a small fraction of these are active).
reference: Number of GameFi protocols per chain
3. Only 14.5% of GameFi titles have over 1,000 users
The majority of the game cannot take off. Even those games that managed to gain a significant number of players rarely maintained regular, healthy activity and profitability for more than a few months.
reference: GameFi dashboard
4. GameFi volume peaked in 2022 during the week of Jan 2-8, with $916.5 million flowing through the protocol
Footprint analysis defines volume as the money that goes into the protocol.
reference: GameFi volume by week
5. GameFi transactions peaked at 184.5K transactions in the week of July 17-23
This fact makes clear that an increase in volume does not necessarily correlate with an increase in activity, as transactions can have bearish sentiment (i.e. selling and outflow).
reference: Weekly GameFi Transactions
6. The biggest month-on-month drop in volume occurred in April-May, when GameFi’s volume dropped by about 62%.
What happened these days? Terra Luna went bankrupt in the first half of May, losing an estimated $60 billion. However, the number of transactions increased by 13.5% month-over-month, reflecting the bottom point in stat #7.
reference: GameFi volume by month
7. The biggest month-over-month growth in volume was from July to August, with a 28% increase in volume.
in the footprint GameFi Report for Augustwe proposed three possible explanations: expectations for The Merge, the onset of a less aggressive monetary tightening by the Federal Reserve, and a dead cat bouncing on the way to lower lows.
reference: GameFi volume by month
1. As of December 25th, there were 62 active GameFi projects and 1,478 inactive projects.
reference: active/inactive games
2. STEPN had the most total users last year, reaching 1.8 million, more than any other game.
Last spring, STEPN attracted attention as a pioneer of the Move-to-Earn model. In this mobile game, players can earn tokens in NFT sneakers by walking, jogging and running.
reference: GameFi dashboard
3. Splinterlands and Alien Worlds spent the most time at the top of the active users leaderboard and stayed there for 6 out of 12 months each
Splinterlands had the most active users in January, February, March, April, May and September. Alien Worlds had the most active users in June, July, August, October, November and December.
reference: Top 10 Game Rankings by Player
4. Farmers World maintains its #3 spot for active users and has the third most active users in all 12 months of the year
Farmers World is the second most popular farming NFT game on the WAX Chain after Alien Worlds. A player can develop farmland and trade his in-game NFTs on the market.
reference: Top 10 Game Rankings by Player
5. Cryptokitties had a total of 112.6k users among all games on Ethereum.
Despite being the largest cryptocurrency ecosystem by market capitalization, Ethereum was not a major player in the GameFi industry in 2022.
reference: GameFi dashboard
6. Sandbox captured approximately $504 million in trading volume in February, making it the largest cash injection of any month
At the end of January, The Sandbox announced partnerships with Snoop Dogg and Warner Music. After the announcement, the token price surged 40% of his.
reference: Top Volume Games of 2022
7. Among all major titles, the game with the highest average new user retention during the market’s heyday last January was MOBOX, retaining 56% of its players one month after joining.
In this statistic, “major titles” is somewhat subjective, but refers to games that are consistently in the top 10 for most users over the course of the year.
reference: Top Weekly Retention GameFi Projects for 2022
1. Wax is GameFi’s most active chain in 2022 with 351,000 active users and a daily active user rate of 57%.
For reference, Hive was the next most active, with 360,000 active users, but a DAU ratio of 98%. Note that Splinterlands accounts for his 99% of Hive transactions and users.
reference: GameFi user chain comparison
2.Wax holds the largest market share of gamers at 40.47%, followed by Hive at 20.86%
Wax is more diverse than hive. Alien Worlds makes up about 66.99% of Wax’s users, while Farmers World makes up 19.67% of him. The rest are fragmented into a dozen or so titles.
reference: GameFi User Count : Treemap
3. In 2021, 63 blockchain games were deployed on two or three chains, but in 2022, 149 blockchain games chose to move to multi-chain.
GameFi projects are increasingly moving to multi-chain to grow their user base and reduce risk. Some games, like DeFi Kingdoms, have gone entirely from Harmony to create his AVAX-based DFK chains.
reference: Number of GameFi protocols deployed on multichain
4. By the number of GameFi protocols, BNB was the chain of choice for developers, with a total of 748 projects by the end of the year
BNB is known for its low gas prices and ease of protocol launch, leading to a wide variety of quality products on the chain.
reference: GameFi protocol per chain
5. 87 new GameFi protocols were launched in January. That’s more than any other month, and most of them (57) started on his BNB.
This number is still less than the number of projects launched in November or December 2021. By January, the market was already in a downtrend.
reference: 2022: Chain by number of new projects
6. By the end of the year, the BNB chain had the largest number of active projects at 226
Polygon is an L2 EVM chain that has shown constant growth and strong technical performance in the last year. The game with the most users on the chain is Benji Bananas.
reference: Monthly active games by chain
7. Solana had 20 GameFi protocols at the beginning of the year, and 20 at the end of the year.
In particular, Solana has become the go-to chain for Move-to-Earn projects. The two largest GameFi protocols on the chain are STEPN and Walken, the two largest M2E projects.
reference: Monthly active games by chain
1. Epic Games has received its largest funding round of $2 billion from Sony and Kirkbi to build its Metaverse project.
Epic Games is the studio behind Fortnite and is speculated to be building a Lego-themed metaverse soon.
reference: GameFi Project Funding Amount and Timing in 2022
2. Animoca Brands raised $434 million in 2 rounds and 61 rounds of funding, making it one of the largest funding sources. When Largest investor in GameFi
Animoca Brands, the company behind The Sandbox, positions itself as the kingmaker of the GameFi space with investments in Axie Infinity, OpenSea and CryptoKitties. Other major projects include Phantom Galaxies and Benji Bananas.
reference: Number of GameFi projects by investor
3. GameFi had four Series B rounds and only two Series C rounds ending in 2022.
This is to be expected in a nascent industry like GameFi.
reference: GameFi Investment List 2022
4. The game project received 16% of the investment in the blockchain industry.
It should be noted that the Metaverse project, which often overlaps with GameFi, came in second with 7.79% of total blockchain funding.
reference: Financing-Investment Amount by Category (2022)
5. Total investment in games grew by 84% from 2021 to 2022
While the GameFi category fared better than others such as DeFi and CeFi, 2022 was a tough year for the blockchain space as a whole.
reference: GameFi Investment Trends
Contributors to this work are footprint analysis Community December 2022
Information source: Footprint Analysis GameFi Industry Statistics for 2022
The Footprint Community is a place to help data and crypto enthusiasts around the world understand and gain insights about Web3, the Metaverse, DeFi, GameFi, or any other area of the emerging blockchain world. Here you’ll find vibrant and diverse voices who support each other and move the community forward.
