The blockchain gaming sector reached 7.4 million every day Distinctive Energetic Wallets (dUAW) in 2024, marking 421% development from a 12 months in the past, based on analytics platform DappRadar.
And DappRadar stated gaming accounted for 26% to 29% of the blockchain business’s exercise, fluctuating all year long as decentralized finance (DeFi) gained momentum through the first quarter and the fourth quarter. It helps that Bitcoin has reached all-time highs of $103,847 (for a market valuation of $1.9 trillion).
DappRadar launched its 2024 Blockchain Gaming Yearly Report, in collaboration with the Blockchain Gaming Alliance.
DappRadar stated, “2024 was a transformative 12 months for blockchain gaming, marking a shift towards mainstream adoption. The 12 months noticed outstanding person development, the launch of floor breaking applied sciences, and vital strides in partaking non-Web3 customers. Regardless of a difficult macroeconomic surroundings, the gaming sector remained resilient, showcasing its potential to redefine digital leisure.”
The report stated Immutable outperformed Ethereum with $330 million in non-fungible token (NFT) buying and selling quantity, underscoring its rising affect in blockchain gaming.
Meahwhile, blockchain gaming investments fell to $1.8 billion, representing a 38% decline in comparison with 2023, marking the bottom level since 2020. This mirrors the decline in VC investments in video games that peaked in 2021 after which declined ever since. That has left numerous firms that secured funding through the growth unable to get follow-on rounds for growth.
The 7.4 million every day Distinctive Energetic Wallets (dUAW) represented a brand new report for Web3 gamers, with over 5.7 billion on-chain gaming transactions. The addition of greater than 1,600 new video games on DappRadar
2024 concluded on a excessive notice for the blockchain gaming business, marking one other 12 months of development, innovation, and adaptation.
Nonetheless, DappRadar stated 2024 was not with out its challenges. The sector witnessed each groundbreaking achievements and notable setbacks, all of which formed its evolution and highlighted its resilience. The metaverse sector skilled a pointy 80% decline in buying and selling quantity in comparison with 2023, with gross sales counts dropping 71% over the identical interval.
High-performing video games of the 12 months based mostly on on-chain metrics included Pixels, which transitioned to the Ronin Community and launched Pixel Dungeon, and World of Dypians, which expanded its metaverse and launched customized person options.
Gaming NFT buying and selling volumes had been dominated by Guild of Guardians, which topped the charts in 2024 following its international launch in Might.
The metaverse sector skilled a pointy 80% decline in buying and selling quantity in comparison with 2023, with gross sales counts dropping 71% over the identical interval.
Blockchain gaming investments dropped 38% year-over-year, reaching a complete of $1.8 billion,marking the bottom level since 2020.
Yearly gaming leaders
By distinctive lively wallets, listed below are the highest 10 video games that dominated the rankings.
Pixels retained its prime place all year long. In 2024, the sport transitioned from Polygon to the Ronin Community, considerably bettering scalability.
Key milestones included the growth of the Farm Land NFT assortment, enabling gamers to customise and handle digital plots. Moreover, December noticed the launch of Pixel Dungeon, a collaborative effort with Crack and Stack, introducing fast-paced Web3 gameplay to its ecosystem.
Amongst new releases, Off The Grid had an enormous launch. On October 8, Gunzilla Video games launched Off The Grid in early entry for PlayStation 5 and PC by way of the Epic Video games Retailer. Influencers equivalent to Ninja helped the sport get consideration out of the gate, however site visitors fell after the influencers moved on to different video games.
World of Dypians continued its rise, significantly following a serious patch launch on Epic Video games in Might. This replace, developed in collaboration with Core DAO, Viction, and MultiversX, added new areas throughout the downtown part of its metaverse, enhancing exploration and gameplay. In December, the introduction of .wod domains by way of SPACE ID Protocol allowed gamers to personalize their identities and foster group engagement.
Seraph: In The Darkness gained traction with its devoted fanbase, concluding a 3rd spherical of alpha testing in January. By December, the sport’s official Steam web page debuted, that includes detailed info, media belongings, and wishlist performance—cementing its popularity as a compelling Web3 title.
Regardless of the waning hype round move-to-earn mechanics, Sweat Economic system remained strong. The platform launched Magic Keys to bolster safety inside its Sweat Pockets app and launched multi-chain integration, beginning with BNB Chain, for seamless cross-chain transactions.
StarryNift stood out with progressive options just like the build-to-earn citizenship system and decentralized id (DID) card protocol. Enhancements included customizable bot instruments, third-party integrations, and AI-driven NPC interactions by way of a complicated SDK infrastructure, elevating person experiences throughout the digital world.
Apeiron’s AGW Invitational Match in June attracted widespread consideration, with prime guilds competing in a double-elimination format. The sport’s S3 launch launched revamped PvE dungeon modes, a mission system, and an immersive storyline, enriching its gameplay ecosystem.
One other new launch was RavenQuest, a free-to-play fantasy MMORPG, honored because the “Finest Journey Recreation” on the 2024 GAM3 Awards. The sport captivated over 1.7 million Twitch viewers throughout its early entry phases and hosted a sold-out Section 3 land sale in December.
Telegram-based gaming growth
Telegram emerged as a hotspot for informal blockchain video games. Notably, Hamster Kombat, launched in March, amassed over 300 million gamers by mid-year. This sport’s humorous Web3 parts inspired viral sharing and person engagement.
The Open Community (TON), related to Telegram, turned a number one platform for on-chain gaming, averaging round 108,000 every day Distinctive Energetic Wallets (dUAW) all year long. High gaming dapps on TON included Catizen and Lingo. Moreover, different networks, equivalent to Mantle, explored integration with Telegram, increasing the ecosystem’s versatility.
Web2 gaming goes Web3
Web2 firms continued to maneuver into the Web3 area, little by little.
Ubisoft: The French online game large continued exploring blockchain with Captain Laserhawk: The G.A.M.E. This top-down multiplayer shooter launched Web3 parts like NFTs, that includes characters equivalent to Rayman. Gamers wanted a Niji Warrior NFT to take part.
Champions Techniques: Grimoria Chronicles: Regardless of providing partaking technique gameplay, the sport’s reliance on NFTs, priced between $7 and $63,000, sparked group debates.
Sony and Soneium: Sony made strides in Web3 by launching its devoted blockchain division, Soneium, emphasizing progressive gaming options within the decentralized area.
Sega’s transfer: Sega partnered with Line and launched Kaia, signaling its entry into blockchain-powered experiences, merging traditional franchises with decentralized expertise.
CCP Video games’ EVE Frontier: CCP Video games expanded its EVE On-line universe with EVE Frontier, integrating blockchain mechanics to boost player-driven economies and interactions.
Sq. Enix’s expansions: Sq. Enix developed Symbiogenesis, a blockchain-based narrative journey, and invested in Soccerverse and Hyperplay, cementing its position as a Web3 innovator.
NFTs in Gaming
DappRadar additionally revealed the highest gaming NFT collections, evaluating them via buying and selling quantity and gross sales depend metrics.
Main the pack is Guild of Guardians, probably the most traded gaming NFT assortment by quantity in 2024. Formally launched globally on Might 15, 2024, this title is offered on iOS and Google Play, making it broadly accessible. Gamers assemble groups of heroes, often called “Guardians,” to discover dungeons, battle enemies, and gather sources, mixing immersive gameplay with NFT utility.
Gods Unchained maintains a powerful presence on platforms just like the Epic Video games Retailer, its official web site, and Google Play for Android customers. This multi-platform availability ensures broad accessibility and enhances the person expertise, solidifying its place as a key participant within the NFT gaming market.
Regardless of years out there, Axie Infinity continues to carry its group, sustaining excessive engagement and industrial viability for its in-game NFTs. The sport’s resilience and flexibility underline its sustained reputation.
Pixelmon’s first-generation assortment of 10,005 distinctive NFTs noticed the very best quantity improve in 2024. These NFTs provide unique perks equivalent to token airdrops, enhanced in-game earnings, early entry to alpha releases, and limited-edition gadgets. In Might 2024, Pixelmon launched Warriors of Nova Thera, a dungeon crawler in closed testing.
With the second-highest improve in buying and selling quantity, Mavia Land represents the digital plots throughout the Web3 multiplayer technique sport Heroes of Mavia by Skrice Studios. It launched the Heroes of Mavia cell sport on iOS and Android in January 2024.
When analyzing collections by gross sales depend, the highest titles mirror these ranked by buying and selling quantity, underscoring their widespread reputation and affect throughout the gaming NFT area.
The gaming NFT market continues to thrive, pushed by innovation, accessibility, and the sustained reputation of key titles. These collections symbolize the heartbeat of the ecosystem, bridging gameplay and blockchain utility for thousands and thousands of gamers worldwide.
In 2024, the metaverse noticed a major decline in each public curiosity and company funding.
As soon as envisioned as the way forward for digital interplay, the idea struggled to fulfill its formidable guarantees. Buying and selling quantity and gross sales counts for metaverse NFT tasks reached their lowest ranges since 2020, marking an 80% lower in volumes and a 71% drop in gross sales in comparison with the earlier 12 months. This downward pattern displays the challenges going through the sector, DappRadar stated.
Gross sales counts have remained comparatively regular, averaging round 23,000 monthly. Nonetheless, buying and selling volumes had been closely impacted by token costs, significantly Ethereum’s fluctuations. The primary quarter of 2024 carried out higher than later quarters, with a complete buying and selling quantity of $60 million in comparison with solely $21 million in This autumn.
Regardless of the general decline, two new tasks made a powerful influence: Mocaverse and Pixels, DappRadar stated.
Launched by Animoca Manufacturers, Mocaverse has emerged as a key participant within the Web3 area. The venture launched the MOCA token and Moca ID, an on-chain decentralized identifier with over 1.79 million registrations and integration with 160+ Web3 purposes.
Mocaverse secured $20 million in funding to increase its ecosystem and launched the Realm Community, selling interoperability throughout gaming, music, and training to comprehend its imaginative and prescient of a decentralized cultural financial system.
Initially launched in 2022, Pixels is a browser-based farming MMO that gained vital traction in 2024, surpassing one million every day lively customers. The venture transitioned from Polygon to the Ronin Community, enhancing scalability and integrating its Farm Land NFTs into the Mavis Market. With customizable plots and interactive gameplay, Pixels strengthened its Web3 ecosystem.
Whereas the preliminary hype round Yuga Labs‘ Otherside has waned, the venture launched “Undertaking Dragon,” a collection of month-to-month action-packed occasions for NFT holders. In August, “Otherside Poker” offered a singular metaverse poker expertise, full with a charity-focused VIP desk. Otherside additionally rolled out the “Yuga ID,” permitting customers to unify their accounts and NFTs.
Regardless of turbulent occasions, The Sandbox introduced plans for a cell model to extend accessibility, collaborated with over 800 manufacturers (a ten% year-on-year improve), and efficiently closed Alpha Season 4, showcasing constant person engagement and platform development.
Decentraland launched a brand new desktop shopper, delivering enhanced efficiency and extra immersive experiences. Superior AI capabilities had been built-in, enriching person interactions. The platform’s creator-first financial system remained a standout characteristic, with creators retaining 97.5% of their gross sales and incomes 2.5% royalties on secondary gross sales—the very best income share within the business.
The absence of a “killer app” able to driving mass adoption led to lowered media consideration and a pivot in focus amongst firms that had closely invested in digital worlds. Meta, for instance, shifted its priorities from metaverse growth to synthetic intelligence (AI) applied sciences because the 12 months progressed, DappRadar stated.
Regardless of the setbacks, the mixing of blockchain expertise inside metaverses continued to evolve. Platforms combining digital worlds with blockchain purpose to ship on their preliminary guarantees, DappRadar stated. One of many notable lack of mentions within the report was Infinite Actuality, which raised $3 billion this 12 months.
The Web3 gaming funding panorama
The funding panorama for blockchain gaming in 2024 reached its lowest level since 2020, reflecting a shift in priorities throughout the business. By year-end, a complete of $1.8 billion was invested in blockchain gaming and metaverse tasks, representing a 38% lower in comparison with 2023.
The 12 months noticed a powerful efficiency in Q2, matching ranges final seen in Q3 2022 and marking the most effective quarters since. Nonetheless, exercise slowed considerably in Q3 and This autumn, contributing to the general decline. That occurred regardless of an enormous run upward in Bitcoin’s valuation.
In 2024, the vast majority of investments had been directed towards funding companies, which accounted for 58% of the whole. Infrastructure obtained 23.5%, Web3 gaming titles secured 14.8%, and metaverse tasks claimed solely 3.6% of the funding.
High Investments of 2024
A variety of high-profile Web3 gaming investments highlighted the 12 months’s exercise:
March 2024: Gunzilla Video games raised $30 million for its upcoming cyberpunk-themed battle royale shooter, Off The Grid.
March 2024: Parallel Studios raised $35 million to increase the Parallel TCG universe and develop extra blockchain-based tasks, together with Colony and Wayfinder.
April 2024: Andreessen Horowitz (a16z) raised $7.2 billion for varied enterprise methods, together with $600 million devoted to gaming investments.
April 2024: Bitkraft Ventures closed its third fund at $275 million, specializing in seed and Collection A investments in gaming studios, platforms, and applied sciences.
Might 2024: Child Shark Universe accomplished its seed spherical, reaching a $34 million valuation for its metaverse venture on the Binance Sensible Chain.
June 2024: The Sandbox raised $20 million via convertible promissory notes, specializing in advancing its decentralized digital world and introducing a cell model in 2025.
October 2024: Accolade Companions launched its third blockchain-focused fund, elevating $202 million for investments in DeFi, gaming, stablecoins, and supporting infrastructure.
October 2024: Azra Video games secured $42.7 million in Collection A funding to develop “Undertaking Legends,” a cell RPG geared toward delivering console-quality experiences.
The blockchain gaming business has matured considerably over the previous few years, DappRadar stated. With the hype round play-to-earn (P2E) subsiding, traders have more and more backed video games with sustainable tokenomics and player-centric ecosystems.
In 2022, the Web3 sport business attracted $7.6 billion in investments, a lot of which went towards play-to-earn fashions which have confirmed to be unsustainable. Nonetheless, a few of these investments have begun to bear fruit, as seen within the beta launches of video games like Illuvium (introduced in 2020), Shrapnel (in growth since 2021), and Guild of Guardians (introduced in 2020).
Financial circumstances in 2024 additionally performed a task within the lowered funding exercise. For 2025, DappRadar hopes that improved financial stability and the discharge of high-quality triple-A blockchain video games will drive renewed curiosity and adoption, setting the stage for a rebound in investments.
2025 may very well be a pivotal 12 months for blockchain gaming, significantly if the business can appeal to new customers and ship on the promise of immersive, triple-A-quality titles, DappRadar stated. This subsequent part of development can be essential for solidifying blockchain gaming’s position within the broader gaming ecosystem.
Closing phrases
DappRadar stated the blockchain gaming sector has demonstrated resilience and flexibility amid challenges and evolving tendencies. From groundbreaking technological developments to shifts in person engagement and funding landscapes, the business has continued to redefine itself, paving the way in which for a promising future.
The successes and classes of 2024 underscore the significance of innovation, sustainability, and user-centric designs. With high-quality video games on the horizon and rising infrastructure capabilities, the approaching years maintain immense potential for blockchain gaming to increase its affect and bridge the hole between Web3 and conventional gaming audiences, DappRadar stated.
