The web3 gaming business is among the few sectors seemingly unaffected by present crypto market circumstances, with capital persevering with to pool into the house – and a few business gamers say it’s for good purpose.
“The present market surroundings is humorous,” Robby Yung, CEO of Animoca Manufacturers, mentioned to Nob6. “Individuals generally tend to couple crypto markets with blockchain video games and content material, however really it’s solely as acceptable as linking tech shares on Nasdaq with the companies of tech firms. There’s a sure correlation, however it’s tenuous.”
Whereas the crypto business was in freefall over the previous few months, web3 video games remained pretty secure. In Could, over 1.15 million each day distinctive lively wallets interacted with blockchain video games, down simply 5% from the earlier month, in response to a DappRadar x BGA Video games report.
The variety of lively customers “has nothing to do with the market,” Yung mentioned. “You may argue it’s countercyclical as a result of as we see in leisure merchandise, there tends to be extra consumption when the financial system shouldn’t be so good as a result of folks will search out leisure,” he added.
Whereas the way forward for the business was in query amid the bear market of 2018, there was super validation and progress since then, Yung mentioned. “The remainder of the yr will certainly be difficult, however I’m optimistic for the primary quarter of subsequent yr.”