Oct. 9 2022, Daniel
Data Source: October 2022 GameFi Report (ENG)
October was a markedly uninteresting month with the volume of GameFi transactions and MAU moving sideways.
Axie Infinity, the biggest title during the bull market, had its first token unlock event in October, which caused an influx of activity on Ronin and provides a case study on the effect of vesting schedules.
There were several large funding rounds, namely to Homa and Horizon Blockchain Games. October saw no breakout games, nor any large-scale collapses in the GameFi industry.
Overall Market
Financing & Investment
GameFi Volume & Users
Projects & Users Overview
The price of Ethereum and the F&G index moved sideways in October, making for a relatively uninteresting month. However, with both upwards and downwards swings becoming increasingly muted, it could indicate that the market has bottomed out, being unresponsive to macro events.
There were only 9 GameFi funding rounds in October, although several were relatively large, with one nine-figure round.
This decline in funding is not specific to GameFi, with funding across the blockchain industry continuing to decline.
Early investors in Axie Infinity were able to unlock their vested tokens on October 26, turning 8% of the total supply of AXS liquid.
In anticipation of the event, the price of AXS dropped by 22%.
A relatively uneventful month in GameFi and crypto, October saw the market continuing to move sideways. Conversely, the lack of strong movement neither up nor down may be a bottom signal.
This piece is contributed by Footprint Analytics community.
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