jakiro
Author: Stella@footprint.network
Data source: FOOTPRINT Analytics Gamefi Research
In March 2024, Bitcoin continued to refresh the record and successfully crossed the trough in the middle of the month.Benefiting from the positive situation of the macroeconomic, the entire cryptocurrency market has performed well.At the same time, the convening of the 2024 Game Developer Conference (GDC 2024) became another important driving force for the development of the blockchain game industry. It helped the market value of the blockchain game token increased by 24.1%and the daily active users increased by 17.5%.The gaming industry giants and public chains are investing in cultivating the web3 game ecosystem, let us pay attention to how these measures will be implemented and bringing.
This report data comes from the web3 game research page of Footprint Analytics.This is an easy -to -use dashboard that includes the most important statistics and indicators of the web3 game industry, and updated in real time.
The market review this month
In March, Bitcoin experienced significant ups and downs between “breakthroughs” and “fluctuations”.At the beginning of the month, it began at $ 61,213, and quickly broke through the previous height of $ 69,000, and hit a record high of $ 73,068 on March 14.Although it once fell 15.1% to $ 62,047 in the middle of the month, the loss at the end of the month finally closed at $ 69,656, and the entire month increased by 13.8%.In contrast, Ethereum’s increase was relatively stable, starting at $ 3,344, closed at $ 3,648, an increase of 9.1%.
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Data source: price trend of Bitcoin and Ethereum -FOOTPRINT Analytics
The cryptocurrency market performed strongly in March, which is mainly due to the market’s expectations for the decline in interest rates, although the overall economy is strong.This prospect has exacerbated inflation concerns, making assets such as Bitcoin and gold more attractive.The price change of Bitcoin is closely related to the performance of the US Bitcoin spot ETF.The fall of prices in the middle of the month is mainly due to the slowdown in the inflow of Bitcoin spot ETF funds and the impact of traditional traders to reduce leverage.However, the market’s expectations of the Bitcoin halves in April have maintained a rising momentum.
Although Ethereum has increased slightly worse than Bitcoin, it still maintains steadily. This is because the batch prospect of the American spot ETF seems to be unclear.On March 13th, Ethereum’s important network upgrade (Dencun Upgrade/Cancun upgrade) aims to reduce the transaction cost of Ethereum, thereby promoting activities in its ecosystem.
In March, the AI industry became the focus of the market. NVIDIA released the Blackwell GPU and GB200 super chips at the AI event GTC 2024, which not only ignited the enthusiasm of the United States and the global stock market, but also caused widespread concern in the cryptocurrency market.The rise.
Blockchain game market overview
This month, the market value of blockchain game token increased by 24.1%to $ 24.1 billion.This growth is not only due to the prosperity of the cryptocurrency market, but also the promotion of the 2024 Game Developer Conference (GDC 2024).The conference further stimulated the activity of Web3 game developers, and significantly increased the market’s attention to the game tokens.
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Game Developer Conference (GDC)
Under the common role of market dynamics and major industry events, the number of active users (wallets) in March continued to increase in March, reaching 2.7 million, an increase of 17.5%over February.
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Data source: Daily active users of blockchain games -FOOTPRINT Analytics
However, although the transaction volume has rebounded since the third quarter of 2023, it has not returned to the peak level in the second quarter of 2022.
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Data source: Blockchain game quarterly transaction volume -Footprint Analytics
Blockchain game public chain data
In March, game player rankings showed that Ronin, Polygon, and BNB chains are the most active number of active players, accounting for 35.4%, 20.9%, and 10.8% of the market share, respectively.It is worth mentioning that Ronin and Polygon further consolidated the leading position, and its market share increased by 6.3% and 7.8% compared with February, respectively.
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Data source: Active game player proportion -FOOTPRINT Analytics
In terms of transaction volume rankings, Ethereum, Ronin and BNB chains dominate.In March, Ronin’s trading volume reached 81.7 million US dollars, an increase of 35.1% month -on -month, while the BNB chain declined 13%.With less than 10 games, Ronin has a strong market share expansion.As Ronin continues to add new games, its growth potential is expected to further increase.
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Data Source: Ronin Hot Game -Footprint Analytics
Competition in the field of public chain is becoming increasingly fierce, and major public chains have increased investment and are committed to promoting the prosperity of the Web3 game ecosystem.
The Arbitrum Foundation announced a proposal to distribute 200 million $ ARB tokens within two years to support the game projects on its blockchain.Among them, 160 million $ ARB will be assigned to game publishers and developers, while the remaining funds are planned to improve infrastructure.This proposal needs to be approved by Arbitrum Dao.
At the same time, the Starknet Foundation is also actively acting to set up a special gaming committee to promote the development of the StarkNet game ecosystem.The committee plans to distribute 50 million $ STRK tokens to support game projects recognized by the committee, especially those projects that can motivate game development and players.
In addition, Immutable, King River Capital and Polygon Labs also launched a $ 100 million “InEvital Games Fund”.This fund will combine the professional knowledge of the three parties in the field of games and blockchain to find and invest in potential game studios and web3 infrastructure.
Blockchain Game Overview
In March, the number of active blockchain games stabilized at 2,879 models, and there was no significant fluctuation in the market.However, the industry is generally expected to have a major breakthrough to greatly increase user participation.
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Data Source: Number of Active Blockchain Games -FOOTPRINT Analytics
Against this background, a question is born: Will NOTCOIN, a hot game this month, will become the game transformer in the market?This simple click game relying on the Telegram communication application, more than 35 million players have been attracted in just a few months.Players only need to interact with NOTCOIN robots through Telegram, invite friends and start games to earn game coins.However, what promotes 35 million users to invest in this seemingly simple “click on the screen to get game coins”?The answer is the upcoming airdrop activity.Notcoin announced that it would use The Open Network (TON) in April to migrate its huge gaming currency to the blockchain, which caused great attention to the market.But this triggered another question: If only the game currency is on the chain, the game elements such as other game mechanisms, equipment, and data are not on the chain. Can a game be called a “blockchain game”?
At the same time, several dazzling games and platforms also emerged in March.Among them, Gala Games’s tokens $ GALA rose as much as 69.6%.Gala is committed to building a huge AAA -level game platform to give players unprecedented freedom, control and generous rewards.
On the other hand, Illuvium, based on Ethereum’s open world fantasy combat game, has also made great progress and successfully completed a round A financing of $ 12 million.It is positioned as the first AAA game on Ethereum. Illuvium stands out with its full 3D environment, which is in sharp contrast to other blockchain games.In March, its $ ILV token value rose 18.2%.
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Illuvium
Blockchain game investment and financing situation
The drama industry ushered in an investment boom, raised a total of $ 151 million, an increase of 80.6%month -on -month, involving 26 rounds of financing.This significant growth highlights the continuous favor and high attention of capital in the industry.
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In the field of blockchain games in the field of blockchain games in March 2024 (data source: Crypto-Fundraising.info)
As the infrastructure of the industry, the public chain is actively consolidating its position through investment game projects and promoting ecological expansion.Among them, Solana’s performance is particularly prominent. Its Solana Ventures invested Parallel, and the Solana Foundation injected capital on Elixir Games.Parallel has become the largest financing scale in the month with a financing of up to $ 35 million.
At the same time, Avalanche also made significant progress.The Avalanche Foundation strongly supports two items: Bloodloop and Crystals of Naramunz.In addition, the Avalanche Ecological Fund Blizzard Fund provided financial support to Gunzilla Games, so that the latter ranked second in March with a financing amount of $ 30 million in March.
Game giant Square ENIX not only develops its own blockchain products, but also invests in the Web3 project with potential.In March, Square Enix injected funds into the game platform Elixir Games and Hyperplay, and plans to introduce its game Symbiogenesis into the Hyperplay platform.
Traditional crypto funds are also active.A16Z Crypto supports MyPrize and Madworld, and Animoca Brands supports Illuvium, MetaCene, and game infrastructure Param Labs.
