Gaming Industry’s Rebound
During the crypto downturn of 2022-23, the gaming sector suffered significant losses in both market cap and activity. Investments also plummeted, dropping from $9.5 billion across 544 rounds in 2022 to $1.5 billion in 135 rounds in 2023.
Ronin Takes the Lead
After two years of stagnation, the sector has rebounded. On July 29, the Ronin blockchain topped the rankings with 2.1 million active addresses. Meanwhile, Tron had 1.8 million, and Solana trailed with 1.2 million.
Mavis Market Growth
The Mavis Market, trading NFTs from the Ronin gaming world, saw its monthly turnover increase over tenfold to $6.8 billion in a year. This explosive growth came from new game releases and RON’s listings on Coinbase and Binance. Additionally, Ronin Wallet integrated with BinancePay and CoinbasePay, simplifying in-game purchases. There are now over 12 million RON holders worldwide, according to developers.
Popularity of Pixels
Pixels emerged as the most popular crypto game in 2024, with daily active users growing from 220,000 in November 2023 to 1.7 million. In June alone, players spent $5.3 million on digital artifacts.
Revival of Older Games
Interest in older games has also risen. For instance, Axie Infinity, once a leading game, saw active addresses grow from 17,000 to 66,000 in 2024. Transactions tripled to 113,000 during this period. However, the in-game token AXS remains undervalued, dropping 37% in 2024.
Bright Future Ahead
The gaming crypto industry, led by Ronin, is showing strong signs of recovery. As user activity increases, more investments and exciting projects are expected. Sky Mavis co-founder Jeffrey Zirlin announced the team would double efforts to make blockchain technology more accessible to everyday users.