Cryptogaming continues to generate interest despite declining investment

Experts from the Playtoearngames company, which focuses on blockchain games, summed up the outgoing year and talked about the interest that this segment of digital assets is generating.

Perhaps all cryptocurrency enthusiasts know that 2022 has become a difficult year for the world of digital assets and investments have declined in almost all directions, and the level of total market capitalization has not reached the $1,000,000,000,000,000 mark for a long time.

Such an unpleasant situation and, as a result, a reduction in investment concerns not only advanced digital assets such as Bitcoin, Ethereum, USDT, USDC, BNB and others, but also, in particular, games that work on the principle of Play2Earn.

Recall that 2021 was the most breakthrough year for the cryptocurrency industry, and the total market capitalization at one time exceeded $2,600,000,000,000. At the same time, cryptocurrency gaming was especially actively developing. Games made using Web3 technology received active support from investors and showed rapid growth.

As a result, the total amount of contributions to the Web3 sector exceeded $1,000,000,000. It should be noted that those projects that were designed to improve the cryptocurrency structure received great support. Game projects also received good investments, although they were noticeably more modest than what the Web3 sector as a whole showed. In the past year, the number of transactions has been growing and a lot of money has been pouring into this offshoot of the cryptocurrency industry.

However, with the advent of 2022, everything has changed. In the beginning, everything went quite well and investors continued to make investments in Web3 technologies and cryptocurrency gaming, but the third quarter showed that investments fell from $1,100,000,000 to $875,000,000+. Although the total amount of money invested cannot be called small, but still -19% indicate a serious reduction in investment.

On the positive side, the number of total transactions completed in 2022 increased by 2.6 times compared to 2021. This signals a high level of interest from investors in the cryptocurrency industry. It has been repeatedly noted that more and more crypto enthusiasts are giving their preference to Web3 technologies, which many call the future of digital assets. This same Web3 sector also includes cryptocurrency gaming.

At the same time, the level of investment in seed rounds cannot be ignored. If in 2021 the amount exceeded $12,000,000, then this year we saw a more modest figure, which is almost 2 times less than its predecessor - $7,000,000+.

The creators of the Digi Daigaku NFT collection managed to grab the biggest piece of the pie to found their company. The latter were able to receive $200,000,000, which was quite enough to implement their ideas.

Recently, we can increasingly see cases of cryptocurrency gaming collaborating with other areas, be it eSports, media or otherwise. For example, the creators of Axie Infinity became partners with the American esports club Cloud9 and, as part of the agreement, the parties will hold Axie Infinity tournaments with prize pools that will be raffled between C9 fans with a STRATUS membership subscription.