Web3 Gaming: A February 2024 Snapshot of Growth and Challenges
Tags: blockchain
Published: 2024-03-08 10:03:12

<img src="https://statichk.footprint.network/article/2b8b3832-3b66-4ab7-bfa8-283486c908ca.jpeg"><em>Web3 Gaming: A February 2024 Snapshot of Growth and Challenges</em>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">March 2024, </span><a href="https://www.linkedin.com/in/stellalhr/"><span style="font-size:12pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">stella@footprint.network</span></a>
<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Data Source: </span><a href="https://www.footprint.network/public/research/gamefi/game-rankings/top-games?channel=EN-644"><span style="font-size:12pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">GameFi Research - Footprint Analytics</span></a>

<br>
<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">In February 2024, the blockchain gaming sector experienced notable expansion, driven by rising cryptocurrency prices and a surge in active users. Despite these advances, the industry faces ongoing challenges in maintaining user engagement and retention, with trading volume and transaction metrics lagging behind expectations. </span>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Blockchain platforms actively pursue growth opportunities through partnerships with content creators like Web2 gaming studios. Focusing on mutual development between games and platforms, alongside expanding gaming IPs, is central to broadening player engagement and enriching the ecosystem.</span>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Data for this report was obtained from Footprint's GameFi research page. This easy-to-use dashboard, updated in real-time, contains the most vital stats and metrics to understand the Web3 Game industry. Click here to find all the latest about prices, projects, funding rounds, and more. </span>

<h3><span style="font-size:13.999999999999998pt;font-family:Arial,sans-serif;color:#434343;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Monthly Market Review</span></h3><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">In February 2024, Bitcoin and Ether both showcased impressive growth, with Bitcoin surging 46.5% to close at $62,404, crossing $60,000 for the first time since Q4 2021, and nearing its all-time high by just 9%. Ether slightly outpaced Bitcoin, climbing 48.1% to end the month at $3,383.</span>
<img src="https://statichk.footprint.network/article/ff7050c8-1a76-4c07-9275-ccd7a6c6e451.png"><em><span style="font-size:9pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Source:</span> <a href="https://www.footprint.network/@KikiSmith/BTC-ETH-Decentralized-Stablecoin-Market-Analysis?date_filter=2023-12-01~2024-02-29&amp;amp;channel=EN-644"><span style="font-size:9pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">BTC Price & ETH Price - Footprint Analytics</span></a></em>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">February's significant uptick in the cryptocurrency market was influenced by multiple factors. The introduction of new spot Bitcoin ETFs in the U.S. attracted massive inflows, totaling $6 billion in February alone, signaling span investor confidence and a shift toward cryptocurrency as a viable store of value. Additionally, anticipation of Ethereum's network upgrade in March and Bitcoin's halving event in April contributed to the price gains. </span>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">However, broader market dynamics, such as inflation concerns and Federal Reserve policies, could pose challenges to continued growth. The uptick in inflation in February signals a risk that anticipated interest rate cuts in the U.S. may be delayed until later this year or beyond.</span>

<h3><span style="font-size:13.999999999999998pt;font-family:Arial,sans-serif;color:#434343;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Overall Web3 Game Market</span></h3><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Riding the wave of the cryptocurrency surge, the market cap of blockchain game tokens increased by 54.0% throughout the month, to reach a noteworthy $18.5 billion.</span>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">February continued the upward trend in daily active users (wallets), reaching 2.3 million — a 28.9% increase from January. The endeavors of blockchain game developers and builders have successfully drawn more Web2 studios and gamers into the Web3 gaming era.</span>
<img src="https://statichk.footprint.network/article/26ae8952-1a04-4c11-8236-9148ea843b03.png"><em><span style="font-size:9pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Source:</span> <a href="https://www.footprint.network/@0xAlina/Game-Overview?date=2023-01-01~2024-02-29&amp;amp;channel=EN-644"><span style="font-size:9pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Blockchain Game Daily Active Users - Footprint Analytics</span></a></em>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">However, the picture isn't as rosy for user engagement and retention as it is for acquisition. These areas remain significant challenges for most Web3 game developers, with trading volume and transaction performance lagging, as indicated by data from </span><a href="https://www.footprint.network/@DamonSalvatore/Volume?channel=EN-644"><span style="font-size:12pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Footprint Analytics</span></a><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">.</span>
<img src="https://statichk.footprint.network/article/317361fa-f491-4632-9091-7f9e8c67fca6.png"><em><span style="font-size:9pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Source:</span> <a href="https://www.footprint.network/@DamonSalvatore/Volume?channel=EN-644"><span style="font-size:9pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Blockchain Game Monthly Volume & Transactions- Footprint Analytics</span></a></em>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">In the broader context of the Web3 game market, its growing impact on other blockchain sectors, notably in-game NFTs, has become increasingly apparent. </span>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">An illustrative case is </span><a href="https://www.footprint.network/public/research/gamefi/game-protocols/single-game-stats?series_date-79426=past90days&amp;amp;game_name=Gas%20Hero&amp;amp;channel=EN-644"><span style="font-size:12pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Gas Hero</span></a><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">, developed by StepN's Find Satoshi Lab. Announced on February 28, the game faced major difficulties, prompting a return to closed beta. Following a successful launch in January, its NFT trading volume suffered an 87.2% downturn to $12.3 million. This steep decline played a pivotal role in dampening NFT trading activity across the Polygon and Mooar, an NFT marketplace, where NFT trading volumes decreased by 80.8% and 87.2%, respectively. </span>

<h3><span style="font-size:13.999999999999998pt;font-family:Arial,sans-serif;color:#434343;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Web3 Game Chains</span></h3><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">February's gamer rankings showed </span><a href="https://www.footprint.network/public/research/gamefi/game-rankings/hot-games-on-polygon?date=past7days&amp;amp;chain=Ronin&amp;amp;channel=EN-644"><span style="font-size:12pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Ronin</span></a><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">, </span><a href="https://www.footprint.network/public/research/gamefi/game-rankings/hot-games-on-bnb?date=past7days&amp;amp;chain=BNB%20Chain&amp;amp;channel=EN-644"><span style="font-size:12pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">BNB Chain</span></a><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">, and </span><a href="https://www.footprint.network/public/research/gamefi/game-rankings/hot-games-on-polygon?date=past7days&amp;amp;chain=Polygon&amp;amp;channel=EN-644"><span style="font-size:12pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Polygon</span></a><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span"> leading in user activity, with shares of 29.1%, 13.4%, and 13.1%, respectively. </span><a href="https://www.footprint.network/public/research/gamefi/game-rankings/hot-games-on-ethereum?date=past7days&amp;amp;chain=Ethereum&amp;amp;channel=EN-644"><span style="font-size:12pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Ethereum</span></a><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">, BNB Chain, and Ronin topped the charts in trading volume.</span>
<img src="https://statichk.footprint.network/article/c61d5bce-0967-49ab-9949-521df1290609.png"><em><span style="font-size:9pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Source:</span> <a href="https://www.footprint.network/@DamonSalvatore/Gamers-Reasearch?series_date=2024-02-01~2024-02-29&amp;amp;channel=EN-644"><span style="font-size:9pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Active Gamers Shared by Chain- Footprint Analytics</span></a></em>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Blockchain platforms are seizing opportunities for growth through collaboration with content creators. In response to local regulatory challenges, South Korean Web3 game developers actively pursue global markets for their blockchain-based games. A notable development in this context is Oasys, offering both Layer-1 and Ethereum-based Layer-2 networks for game developers. Oasys recently announced strategic partnerships with South Korean game developer Com2uS, and shortly thereafter with South Korean internet giant Kakao’s Web3 gaming division Metabora SG.  </span>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Expanding the ecosystem through mutual growth between games and blockchain platforms is another strategic approach. </span><a href="https://www.footprint.network/public/research/gamefi/game-protocols/single-game-stats?series_date-79426=past90days&amp;amp;game_name=Pixels&amp;amp;channel=EN-644"><span style="font-size:12pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Pixels</span></a><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">, a Web3 farming game, shifted from Polygon to Ronin in late October 2023, leveraging Ronin's superior interoperability and marketing support. This move propelled the game's visibility and on-chain activity, with Pixels registering over 1.5 million on-chain interactions in February, nearing the 1 million user milestone. This growth benefits Ronin, highlighting the mutual advantages of such partnerships. </span>
<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Furthermore, Pixels launched its PIXEL token in February, complemented by play-to-airdrop campaigns and a Binance Launchpool rewards program. Pixels announced a 20 million PIXEL airdrop for those staking Ronin’s RON token, rewarding Ronin’s supporters.</span>

<h3><span style="font-size:13.999999999999998pt;font-family:Arial,sans-serif;color:#434343;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Web3 Games Overview</span></h3><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">February saw the number of active blockchain games hold steady at 2,880, with the share of games having over 1,000 users declining from 8.3% to 7.9%. Despite a 28.9% rise in active users, the expansion of active games did not mirror this optimism, even amid early signs of a bull market. It seems only a small portion of blockchain games is successfully attracting an expanding player base.</span>
<img src="https://statichk.footprint.network/article/dd367402-974d-47c9-8552-8eb6f5e658d2.png"><em><span style="font-size:9pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Source:</span> <a href="https://www.footprint.network/chart/Monthly-Active-Games-fp-43560?on_date=past6months~&amp;amp;channel=EN-644"><span style="font-size:9pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Monthly Active Blockchain Games - Footprint Analytics</span></a></em>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Some games are expanding their gaming intellectual property (IP). Bali Games, a South Korea-based mobile game developer, successfully launched Axie Champions, a match-3 RPG on the Ronin blockchain. The game utilizes the popular Axie Infinity IP through a collaboration with Sky Mavis, the developers behind Axie Infinity. Players engaging in the game will be rewarded with the </span><a href="https://gam3s.gg/news/axie-origin-coin-aoc-tokens-migration-ronin/"><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">$AXS token</span></a><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">. </span>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Meanwhile, the introduction of new games continues to energize the market. </span><a href="https://www.footprint.network/@0xLam/Matr1x-FIRE-Game-Overview?game_name=Matr1x%20FIRE&amp;amp;chain=Polygon&amp;amp;date=past90days~&amp;amp;channel=EN-644"><span style="font-size:12pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">MATR1X FIRE</span></a><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">, a first-person shooter game, launched in February and soon attracted over 400K daily active users. As a platform, MATR1X combines artificial intelligence (AI), Web3, and eSports to create innovative gaming products.</span>

<h3><span style="font-size:13.999999999999998pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Game Investment and Funding</span></h3><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">In February, the Web3 gaming sector sustained momentum, securing $83.6 million across 19 funding rounds. This activity underscores the industry's ongoing allure and the continued confidence of investors in the blockchain gaming arena.</span>
<img src="https://statichk.footprint.network/article/9f344cab-fbd4-41ed-aa1e-cd73212521d5.png"><em><span style="font-size:9pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Web3 Gaming Industry Funding Rounds In February 2024</span></em>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">However, of the 19 funding rounds observed, a notable 89.5% were for amounts under $10 million, indicating a more measured investment strategy.</span>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Highlighting the sector's dynamism, several gaming studios and games such as Brawl Studios (BitBrawl), Matr1x FIRE, and Pixels successfully secured new funding. Additionally, gaming platforms remain a sector of interest, with entities like Crystal Fun, Ultiverse, and OVERWORLD making strides. Notably, OVERWORLD, incubated within the Xterio ecosystem, garnered $10 million in seed funding to pioneer cross-platform multiplayer RPGs.</span>

<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">The spotlight also fell on gaming infrastructure, with Ready Games Network (READYgg) and Helika, a Web3 gaming analytics platform, closing their latest rounds of funding.</span>
<span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">The gambling platform Monkey Tilt secured the largest funding in February, with $21 million from Polychain and others. This aligns with our </span><a href="https://www.footprint.network/article/exploring-blockchain-gaming-recap-of-2023-and-sneak-peek-into-2024-YVnDBsPg"><span style="font-size:12pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Blockchain Gaming 2023 report</span></a><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span"> forecast, suggesting potential growth in GambleFi despite looming regulatory challenges.</span>

<h3><span style="font-size:13.999999999999998pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">What’s New?</span></h3><ul><li><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Crypto Gaming Firm Gala launches GalaSwap Exchange with token rewards.</span></li><li><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">LBank, a leading global digital asset trading platform, announces the integration of Oasys into its diverse trading portfolio. </span></li><li><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Bitcoin Cats Leaps into blockchain gaming with 1CAT Chain testnet.</span></li><li><span style="font-size:12pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Crypto gaming platform PlayDapp loses $290 million worth of tokens in two exploits.</span></li></ul>


<br>
<span style="font-size:12pt;font-family:Roboto,sans-serif;color:#333333;background-color:#ffffff;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_</span>
<span style="font-size:11pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Footprint Analytics is a blockchain data solutions provider. It leverages cutting-edge AI technology to help analysts, builders, and investors turn blockchain data and combine Web2 data into insights with accessible visualization tools and a powerful multi-chain API across 30+ chains for NFTs, GameFi, and DeFi.</span>

<br>
<span style="font-size:11pt;font-family:Arial,sans-serif;color:#1d1c1d;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Product Highlights:</span><ul><li><a href="https://docs.footprint.network/reference/introduction"><span style="font-size:11pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Data API</span></a><span style="font-size:11pt;font-family:Arial,sans-serif;color:#1d1c1d;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span"> for developers.</span></li><li><a href="https://www.footprint.network/fga/game/project/Demo%20Project/project_summary?protocol_slug=the-sandbox"><span style="font-size:11pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Footprint Growth Analytics (FGA)</span></a><span style="font-size:11pt;font-family:Arial,sans-serif;color:#1d1c1d;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span"> for GameFi projects.</span></li><li><a href="https://www.footprint.network/pricing"><span style="font-size:11pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Batch download</span></a><span style="font-size:11pt;font-family:Arial,sans-serif;color:#1d1c1d;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span"> for big-size data fetch.</span></li><li><span style="font-size:11pt;font-family:Arial,sans-serif;color:#1d1c1d;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">View the data </span><a href="https://www.footprint.network/@Footprint/Footprint-Datasets-Data-Dictionary"><span style="font-size:11pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">dictionary</span></a><span style="font-size:11pt;font-family:Arial,sans-serif;color:#1d1c1d;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span"> to explore all data sets Footprint provides.</span></li><li><span style="font-size:11pt;font-family:Arial,sans-serif;color:#1d1c1d;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Check our </span><span style="font-size:11pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">X post </span><span style="font-size:11pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">(</span><a href="https://twitter.com/Footprint_Data"><span style="font-size:11pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">Footprint_Data</span></a><span style="font-size:11pt;font-family:Arial,sans-serif;color:#1155cc;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">)</span><span style="font-size:11pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span"> fo</span><span style="font-size:11pt;font-family:Arial,sans-serif;color:#1d1c1d;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;" data-raw-html="span">r more product updates.</span></li></ul>