23 February, 2024

GameFi Sees Resurgence: Coin98 Analytics Unveils Market Analysis

1 month ago

21 Feb, 2024

  • Coin98 Analytics releases insightful analysis on GameFi, revealing key investment trends, market cap insights, and growth indicators.
  • GameFi secures financial dominance with a remarkable $14.7 billion in investments from 2009 to 2023, outpacing other sectors.
  • BNBChain leads with 1,016 games, while WAX tops total active users in 2023 at 117.7 million, showcasing innovation in the competitive GameFi landscape.

In a recent development, renowned analytical platform Coin98 Analytics has unveiled a comprehensive analysis of the GameFi market, shedding light on the sector’s intriguing trends and key indicators. In a recent X post, the platform provided valuable insights into the investment landscape, market cap, active users, and the overall trajectory of GameFi.

GameFi has emerged as a standout sector in terms of investment volume from 2009 to 2023. Accumulating an impressive $14.7 billion in investments, GameFi surpasses other sectors significantly. To put it into perspective, GameFi’s investment volume is 31 times that of Currency and 411 times that of Meme and outperforms Chain, DeFi, NFT, Social, and Blockchain Infrastructure. While 2021 marked the pinnacle for GameFi, with an all-time high market cap of $44.3 billion in November 2023, it shows signs of growth resurgence, hinting at a promising future for the sector.

Source: Image by Coin98 Analytics

The number of GameFi projects raising funds has steadily increased, reaching 351 projects in 2022. Active users have witnessed positive growth trends, with 343 million users in 2023, reflecting a positive trajectory. Total transactions remain stable, with the highest recorded in Q3 of 2023, exceeding 2.3 billion transactions.

Source: Image by Coin98 Analytics

BNBChain has emerged as the frontrunner amongst its peers in the blockchain gaming industry, offering the highest number of games with 1,016. On the other hand, WAX has taken the lead in total active users for 2023, surpassing an impressive 117.7 million users. These figures testify to the companies’ continued innovation and success in the highly competitive blockchain gaming space.

GameFi has diversified into 53 genres, with PVP, Action, Strategy, and Adventure as the top four, featuring 723, 611, 424, and 390 games, respectively. The top three platforms for GameFi games are Web, Windows, and Android, illustrating the widespread accessibility of these gaming experiences.

Source: Image by Coin98 Analytics

Despite a slight dip in 2023 due to an overall market cooldown, GameFi is experiencing a resurgence in key indicators. Total GameFi volume, for instance, has shown signs of growth from Q3 to Q4 of 2023, rising from $0.6 billion to $1 billion. As the money continues to flow into GameFi and the active user base surges, industry enthusiasts eagerly anticipate how soon GameFi will reclaim its peak position in the dynamic landscape of blockchain gaming.