DappRadar

Million

Axie Infinity

Gods Unchained

<![CDATA[<figure class="image"><img src="https://cimg.co/news/126355/333664/web3-and-blockchain-key-d.jpg" srcset="" width="" class="content-img" alt=""><figcaption>Source: Florian Olivo / Pexels</figcaption></figure><a href="https://cryptonews.com/news/best-crypto-games.htm">Blockchain gaming</a> numbers were affected by the wider bear market leading many observers to criticize the existing models and the utility of most projects.The total sector recorded a total investment of $600 million in Q3 2023, raising total investor figures this year to $2.3 billion, crypto analytics firm <a href="https://dappradar.com/blog/state-of-blockchain-gaming-in-q3-2023#Chapter-4">DappRadar wrote</a>.&nbsp;The figures posted in the last three months show the market retracted by 38% in terms of investments from $873 million in Q2 2023. This year's total inflows have hit 30% of last year showing a poor run.&nbsp;Despite the reduced flow of <a href="https://cryptonews.com/news/bakkt-crypto-platform-for-institutional-investors-delists-several-digital-assets-which-cryptos-are-facing-axe.htm">institutional investors</a>, the industry notched an average of 786,766 daily active wallets, marking a 12% growth for the previous quarter.Decentralized virtual world applications also hit high trading volumes with 28,000 land sales tapping $12 million.The industry has been hit with recent turmoil as a result of declining figures leading to layoffs, slow market adoption, and reduced investments.&nbsp;However, <a href="https://cryptonews.com/news/web3-blockchain-key-drivers-of-gaming-innovation-player-engagement.htm">traditional players</a> continue to suggest a gradual flow back to the market with recent developments around many projects, especially on gaming-centric investment companies.<h2 id="web3-games-analysis">Web3 games analysis&nbsp;</h2>Alien Worlds remained the most played blockchain game in the last quarter, a figure gathered by mirroring wallet activities of top platforms across several networks.<a href="https://cryptonews.com/exclusives/how-play-axie-infinity.htm">Axie Infinity</a> led in terms of gaming transaction volume as sales hit $90 million and was followed by Gods Unchained at $55 million; both games have used community engagement tools as well as rewards to spur development.&nbsp;Jeffrey Zirlin, the co-founder of Sky Mavis, the team behind Axie Infinity noted that the blockchain gaming space is still competitive with lots of titles yet to be released and praised Axie&rsquo;s development so far.He added that Sky Mavis rewards players with $472,000 worth of AXS tokens every season for six weeks including tournaments and other community-inspired initiatives.&nbsp;<h2 id="positivity-amid-the-bear-market">Positivity amid the bear market</h2>On the bear market, he sees potential for the Industry to know the shortcomings and ways to improve its operations, especially user interaction as the driving force.&ldquo;Bear market hard times&mdash;that&rsquo;s needed for evolution. You cannot evolve when you&rsquo;re going through a great boom. You will change in other ways, but in terms of figuring out the next thing that&rsquo;s what these times are for.&rdquo;Zirlin&rsquo;s view was also reechoed in the report in carving a forward path for the sector amidst plunging figures.&ldquo;while the growth trajectory of blockchain gaming remains largely positive, the evolving dynamics across sectors and platforms emphasize the need for adaptability and foresight in this ever-evolving domain,&rdquo; the report states.&nbsp;
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Blockchain Gaming Records $600 Million Inflows, Down 38% from Last Quarter: Here’s More

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