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Gamefi Monthly Report–January 2023

Validated Venture

Data Source: BitMart; Footprint, Dune, Tradingview, Ethscan, Bscscan, Token Unlocks

This monthly report aims to provide a comprehensive and accurate market macro trend, allowing Gamefi enthusiasts to have a better grasp of the current Gamefi market.

Key Takeaways

  • The Gamefi market failed to have a good start in the first month of 2023, all related figures, MAU, Volume, Fundraising, still shows no signal to recover. The AI concept has dominated the crypto market in January, making Gamefi space more desperate to find new driving force
  • Over the past year, Gamefi has been one of the hottest industries favored by VCs, but the state of fundraising recently has indicated that such a trend is now changing.
  • The most popular games in January must be Dookey Dash launched by Yuga Labs, with over 25K players clocking a cumulative total of 706,436 hours.
  • CZ once extended his endorsement in Metaverse & VR in an AMA, which is a strong support for the growth of the Gamefi market.

Gamefi Market Overview

  • Slightly Decrease in MAU & New Users

We can see from the chart curve that there have been several large fluctuations between new users and active users since October. Since January, it has been relatively stable, which means that the next rise may not be far away.

Compared with December, both MAU and DAU decreased slightly in January. The curve continues the downward trend that began in October last year, but the downward is very slightly compared with Dec, which may be a signal that the market is picking up.

  • Monthly Volume Bounced Back A Little, Daily volume Peaked in January 23rd

The Daily Volume fluctuated greatly throughout January, it went to the highest point on Jan 23, which was brought by the token unlock event of Axie Infinity. The downward trend stopped on Jan 29 and showed a low but stable situation.

Compared with October, the Monthly Volume of January shows a great decline and maintains a sharp and continuous downward trend since April.

  • The Number of Games Start Ascend, Up 1.01% MoM

After the decline in December, the number of games started to increase slightly with 22 new games, up 1.01% Mom

  • The Funding Amount Went below $100M Consecutively, VCs Are Losing Patience

Although increased, The monthly funding amount was still below 100M, which suggests that VCs are losing confidence in the Gamefi market. The new driving force for the Gamefi market seemed more urgent than ever before.According to the second chart, Infrastructure is more favored than any other areas.In the beginning of February, CZ once extended his endorsement in Metaverse & VR in an AMA, which should be a strong support for the growth of the Gamefi market especially in such circumstances.

Funding deals worth mentioning:

On January 17, Web3 and Game publisher Carry1st completed the latest round of financing of $27 million led by BITKRAFTVentures, including Andreessen Horowitz (a16z), TTV Capital and Alumni Ventures.On January 18th, Intella X, a Web3 gaming platform, announced the completion of financing of $12 million invested by Polygon, Animoca Brands, Magic Eden, Wemix and Global Coin Research.On January 25, the game studio Voldex completed the A round of investment led by a16z, the amount has not been disclosed.

Analysis by Chain

1. User Numbers

Overall, compared with December, in terms of the number of users, polygon achieved an overtaking of BSC in January. Polygon and Hive are in the trend of gaining more users. Meanwhile, BSC went downward and Wax still took the lead, which shows that Alien World is still the most popular game in the Gamefi space.

2. Trading Volume

In this month, Ronin is up 23% compared with the previous month, ranking first with a huge proportion of 70% because of Axie Infinity’s huge foundation. While BSC and Polygon lost their share because Ronin took it back again, but still, these two chains own the natural advantages in Gamefi space.

Trending Games This Month

Honestly speaking, we see no games caught the public attention this month except Dookey Dash which I have mentioned above, the Gamefi space remained silent. Let’s look forward to the February!

Get the latest news here: Cointime channel — https://t.me/cointime_en

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