Description: The gaming market is witnessing a renaissance, with a remarkable 34% surge in gaming token market capitalization within a month......

Description: The gaming market is witnessing a renaissance, with a remarkable 34% surge in gaming token market capitalization within a month.

The crypto markets experienced increased volatility in August, with bitcoin trading in a range of $23,664 to $30,057. In comparison, the gaming sector remained relatively calm, but there has been a growing shift in perspective toward Web3 games from a more macro perspective.

Author: lesley@footprint.network Crypto markets rallied in June 2023, with Bitcoin surpassing $30,000 for the first time in 12 months. However, the web3 gaming sector told a different story, despite more than 1,000 blockchain games on the market.

Leading institutions back Asia Blockchain Gaming Alliance (ABGA) in the gaming and blockchain community. We are optimistic about the developments in blockchain games, NFTs, and the Metaverse, and we are taking the initiative to support ABGA-related activities and investments.

On May 13th, Line announced its plans to release five ‘gamer first’ NFT games in 2023. As we can see, more developers and more gamesare appearing, showing that web3 games are struggling to expand beyond speculation. However, transaction volumes have declined and user numbers initially fell, indicating that sustainable games that focus on fun, strong communities, and mass appeal remain scarce.

Leading institutions back Asia Blockchain Gaming Alliance (ABGA) in the gaming and blockchain community. We are optimistic about the developments in blockchain games, NFTs, and the Metaverse, and we are taking the initiative to support ABGA-related activities and investments.

The crypto market sustained its early Spring revival in April, with the price of BTC reaching an 11-month high. The GameFi industry has also seen signs of life again, with an uptick in metrics like funding rounds and active users — but without any truly exciting swings.