GameFi Industry 2022 Report: Multi-dimensional Analysis of Web3 Game Market Development
This report covers the main indicators of the industry overview, including market value, trading, number of users, and fundraising, helping you quickly understand the industry trends of 2022.Original Title: 2022 Gamefi Industry Annual Review Report
Author: Gamefi Dash
Compiled by: Shenchao TechFlow
This report is published by GamefiDash, aiming to review the development trends and changes in the Gamefi industry in 2022. The report covers some key indicators of the industry overview, including market capitalization, trading, user numbers, and fundraising, helping you quickly understand the industry trends of 2022.
Market Capitalization Overview
Historical Review
- The Gamefi market began to grow in early 2021, peaking on December 1, 2021, with a market capitalization of $36 billion.
- In this trend, 2021 is seen as a year of explosion and expansion for the Gamefi market.
- However, shortly after the peak, this trend began to decline.
2022 Review
- The overall market capitalization of Gamefi showed a downward trend in 2022, decreasing from $30 billion on January 2.
- The lowest point in 2022 was on December 31, with a market capitalization of $3.36 billion.
- The market lost 89% over the year.
This data shows the overall market performance of Gamefi, indicating that the prices of tokens and NFTs are declining. This aligns closely with the overall market trend of Web 3.
Trading Overview
Historical Review (Trading Volume)
2021 is regarded as the inaugural year for the Gamefi industry. From the perspective of market capitalization, it grew from the beginning of 2021 to the end of the year. The peak occurred on April 18, with a trading volume of $3.3 billion.
2022 Review (Trading Volume)
The trading volume in 2022 was mainly concentrated in the first two quarters, with $8.8 billion in Q1 and $2.8 billion in Q2. The trading volume in Q3 and Q4 dropped to $819 million and $440 million, respectively. This trend is also consistent with the changes in market capitalization in 2022.
The highest daily trading volume in 2022 was on February 11, at $544 million.
The lowest daily trading volume in 2022 was on December 25, at $98.7 million. The decline from the peak to the lowest point was 99.8%.
However, based on the trading volume described above, the decrease in trend volume may primarily be due to the decline in token prices rather than the quantity of trading activity.
Historical Review (Transaction Amount)
Transaction amount indicates the level of market activity, which remained high from mid-2021 to the end of 2022. This provided the market with strong confidence that Gamefi is a hot area, attracting a lot of attention in 2021.
2022 Review (Transaction Amount)
At the beginning of 2022, the transaction amount was $22.4 million. By the end of 2022, it was $22.8 million.
This trend remained relatively stable, with the lowest transaction amount of $15.3 million on August 9, but it returned to high levels the following day. This may have been due to Dragonma suddenly losing liquidity on Polygon, causing its token price to drop by over 99%.
The peak was on May 28, with 28.8 million transactions.
All the above data still exceeds the transaction amount of $15.6 million on April 9, 2021, when the market capitalization was at its highest.
Throughout 2022, the market remained active. This can continue to give investors and developers confidence that the Gamefi market has great potential.
User Numbers/New Users
Historical Review
Since early 2021, the total number of users peaked on December 1, 2021, with 2.58 million users. However, there were only 27,000 users at the beginning of 2021.
The highest increase in new users occurred on April 29, 2021, while the highest increase in early 2022 was at the beginning of January.
2022 Review
The day with the most users in 2022 was January 5, with 2.2 million users. After that, the number of users continued to decline, remaining between 1.7 million and 590,000.
The day with the fewest users in 2022 was November 19, with 593,000 users.
There were two peaks in user numbers at the end of September and December, which may be the result of user growth on Polygon and Ultiverse's Arc8.
However, the trading volume per user steadily increased throughout 2022, from 17.84 transactions per user on January 1 to 30.48 transactions per user on December 31.
On the other hand, due to the decline in market capitalization, the trading volume per user decreased from $60.3 on January 1 to $1.9 on December 31, 2022.
Number of Games and Investment Trends
In 2022, the chain with the most users was the BNB chain (145.9 million), followed by Hive (94.6 million) and Polygon (47.8 million).
In terms of new users, BNB still ranks first (15.7 million), Polygon ranks second (6.96 million), and Ethereum (3.62 million).
The total fundraising amount for the entire Web 3 showed a downward trend, from $5.89 billion in January to $671 million in December.
The highest fundraising period was in April 2022, with a fundraising amount of $6.68 billion.
The number of fundraising cases showed a similar trend to the fundraising amount in 2022.
January had the most fundraising cases, while December had the fewest.
Conclusion
In summary, compared to 2021, the market in 2022 showed a downward trend, especially in terms of market capitalization, user numbers, and Gamefi fundraising activities. This is widely regarded as the "bear market" of 2022.
However, from the market data, there are also some positive signals. For example, the total transaction amount remained stable, with a growth of over 70% in transactions per user from the beginning to the end of 2022. Additionally, there was a significant increase in new users by the end of 2022, providing more optimism for the entire market in 2023.
