There’s no denying the fact that the last few months have been extremely rough on the crypto market, thanks, in large part, to the financial panic that has been induced into the global economy by the ongoing Russia-Ukraine conflict. In this regard, over the last 90-day stretch, the total market capitalization of the digital asset sector has slipped from $2.5 trillion to around $1.8 trillion, representing a drop of over 38%.
The blockchain-gaming market — collectively referred to as ‘GameFi’ — too has not been able to steer clear of this turmoil, with statistical data showcasing that the daily use of blockchain-based videogames has been on the decline at a steady rate of about -13% all through February.
That being said, the industry has still been able to attract, on average, a whopping 1.1 Unique Active Wallets (UAW) over the above stated time window, representing 49% of the blockchain sector’s total usage.
Defying the bear market? A closer look at the numbers…
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