Binance Chain and Solana show strong growth

• Web3 games and metaverse projects generated more than $750 million since August 1 from their fundraisers.
• Axie Infinity averages 36,000 daily players and exceeds $4 billion in all-time NFT sales.

The blockchain gaming space is growing at an alarming rate, and one of the hottest buzzwords is GameFi. GameFi has raised $748 million and has over 50 percent of the industry’s usage. Despite the arrival of games in the market, the top games continue to flourish.

Last month, an average of 847,000 unique active wallets interacted with blockchain games daily. Although that number represents an 11 percent decrease compared to last month, it is still over 50 percent of the industry’s usage. The average daily unique active wallet transactions on the Binance blockchain (BNB chain) increased by 8 percent month-over-month to more than 92,000.

Solana also experienced similar growth, rising by 21 per cent month on month. NFT revenues on the Solana blockchain topped $1.7 million, representing an increase of more than 171 percent month-over-month. On August 27, a Solana-built game, Gameta, was also launched on the BNB chain.

After its launch, it has become the top two decentralized applications (DApps) in the BNB chain based on the number of users. Also, it ranks highest among GameFi projects in the BNB chain. Here are the highlights of the most important and latest developments that make blockchain games the leader of the upcoming Web3.

Web3 games and metaverse projects raised more than $750 million

As has been the case since the beginning of this year, there are continued investments and partnerships in blockchain gaming, with projects in this area raising $748 million last month. This amount represents an increase of 135 per cent from July, but a decrease of 16 per cent from June.

One notable investment was the $200 million raised by Gabriel Leydon for Limit Break, his new blockchain startup. The amount is 27 percent of the total investments in the blockchain startup. Leydon is the founder and former CEO of mobile game studio Machine Zone.

Machine Zone is the creator of blockchain games, Game of War and Mobile Strike. The project became famous after the launch of the DigiDaigaku free-mint NFT collection. The largest investor globally and Singapore’s sovereign wealth fund, Temasek, invested $100 million through convertible bonds for Animoca brands. Kingsway Capital, 10T and Liberty City Ventures led Animoca’s latest fundraising round in July, raising $75 million.

A recent DappRadar data showed that 38 percent of investments typically go to infrastructure, 33 percent to metaverse projects and games, and 27 percent to investment companies. In Q2 2022, blockchain gaming projects raised $3.1 billion from investors. Analysts predict that investors would have pumped up to $10.2 billion into this fast-growing industry. These investments prove that investors and venture capitalists remain bullish on the GameFi sector despite the challenging and unpredictable conditions in the crypto market.

Axie Infinity Exceeds $4 Billion in All-Time NFT Sales

Axie Infinity maintained its on-chain player base with around 36,000 active wallets interacting with the game daily. In August, the game generated $4.24 billion in NFT sales. Cryptopunks came in a distant second with $2.92 billion in sales. Last month, Axie Infinity announced plans to launch Origin Season 0, indicating a transition to the game’s next phase of development.

During this new phase, there would be changes to the game’s reward system while there would no longer be SLP. Meanwhile, Play Mining and Era7: Game of Truth maintained their average base player level of 24,000 daily unique active wallets. The active wallets indicate an increase of 4 percent and 2 percent from July 2022.

A new game, Trickshot Blitz, gets over 400,000 unique active wallets within two weeks of launch

In August 2022, the game publishing platform (Joyride Games Inc.) launched Trickshot Blitz. Trickshot Blitz is a play-to-earn version of the standard 8-ball pool game. This launch follows the successful launch of the flow-based game, Solitaire Blitz, in July. In the first two weeks of launch, the game had more than 400,000 unique wallet addresses and processed nearly 4.65 million transactions.