GameFi now accounts for 16.4% of all blockchain investments.
May. 2022, Vincy
Data Source: Footprint Analytics — 2022 Funding Potential GameFi Projects
Investment focus in the blockchain industry is gradually tilting towards gaming, driving a huge rise in the number of projects, funding, transactions and participants in this sector of the market.
According to Footprint Analytics, the total number of GameFi projects reached 1,498 as of May, up 99% YoY, and the amount of investment in the first half of the year reached $3.7 billion, surpassing the total of $780 million for the entirety of 2021.
This article will assess which games have potential and which games are losing attention in the first half of 2022.
The GameFi sector has gradually increased its proportion in the entire blockchain sector, with a total investment of $22.5 billion. The GameFi sector accounted for 16.4% of the total investment, with total investment at $3.7 billion.
In terms of total investment rankings, in January, metaverse game developer Animoca Brands announced the completion of a $359 million funding round, led by Liberty City Ventures. Metaverse-related game projects are in a positive phase.
The Sandbox, Phantom Galaxies and REVV Motorsport are all Animoca Brands’ game projects.
The end of last year was a time when metaverse projects were at their peak and this sector had the most potential. But as the metaverse project The Sandbox did not go ahead as planned again, the slow launch of Phantom Galaxies will also gradually lose attention.
Although some GameFi games have dropped from the spotlight, others have gained popularity.
Civitas announced in April that it had closed a $20 million round of funding led by Delphi Digital and Three Arrows Capital, with participation from Framework Ventures, BITKRAFT, DeFiance Capital, Sfermion, CCP Games, Yield Guild Games, Merit Circle, and YGG SEA.
Civitas is a community-oriented city-building game where players can work individually or collaboratively to upgrade cities through battles. It uses a subDAO model where cities are controlled by the community, allowing guilds to grow as users work and vote.
The game is still in the early stages, and the gameplay is relatively new.
The game received investment from Delphi Digital and Three Arrows Capital before it even went live in beta. Of course, early entrants will need to research its subsequent development path.
STEPN closed a $5 million seed round led by Sequoia India and Folius Ventures in January. It is also considered one of the most promising GameFi projects at this stage. It offers financial rewards and introduces an element of social rewards to motivate millions of users through its Move to Earn approach.
Footprint Analytics data shows that $GMT transfers new addresses and active addresses rose in waves.
For GameFi projects, obtaining capital financing from well-known VCs is crucial to drive development in the bear market, making team expansion, game development user acquisition possible.
This piece is contributed by Footprint Analytics community.
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