GameFi was the most bear-resistant crypto sector in Q2

Edition #26 - 15 JULY 2022

Blockchain games and game-related NFTs have outperformed other crypto verticals during Q2 and have not been impacted as drastically.

GameFi sector drove 52% of all blockchain activity, measured by Unique Active Wallets (UAW), with total GameFi UAWs dropping 7% quarter on quarter, compared to 17% for DeFi and 24% for all NFTs.

Read the full DappRadar x BGA Games Report here.

gaming developments

• Community anticipation build’s for Otherside’s First Trip - the gamified project associated with Bored Ape Yact Club is set to show off its demo run on July 17th;

• Tony Hawk skates into the Sandbox with the largest virtual skatepark ever made, spanning over 36 in-game land parcels;

• Axie Infinity NFT sales volumes triple over the last week following the reveal of land staking.

metaverses & Adoption

• 74% of Latin Americans prefer businesses that accept cryptoassets;

• Verified Market Research (VMR) report: NFT market to swell to $231 billion by 2030;

• Ex crypto adviser Michael Barr confirmed to become vice chairman for supervision at the US Federal Reserve;

• Survey: 37% of consumers expect their governments to make cryptocurrency legal tender within the next three years;

• GameStop releases its highly anticipated public beta NFT marketplace.

defi

• Millicent, a ledger fintech company co-founded by the UK government, successfully tests 1st general purpose full-reserve digital currency;

• The troubled cryptocurrency lender Celsius files for chapter 11 bankrutpcy, reveals $1.2 billion shortfall in its holdings;

• BlockFi ceases accepting Grayscale’s Bitcoin Trust (GBTC) assets as collateral for loans, walks back the statement hours afterwards;

• Celsius influencers keep pushing dubious CEL short squeeze strategy;

• Circles asset breakdown report shows only cash and short-term treasuries backing the USDC stablecoin.

funding rounds

• Hang, an NFT membership platform, has closed its $16 million Series A this week, led by Paradigm, with participation from Tiger Global Management, Thirty Five Ventures, among others;

• Gnosis Safe, a digital assets platform, raises a $100 million funding round led by 1kx with participation from Tiger Global Management;

• Morpho, a DeFi lending protocol, has raised $18 million in a native token sale round led by Andreessen Horowitz (a16z) and Variant;

• Animoca Brands, web3 gaming and venture capital company, has completed its $75 million funding round, valuing the company at pre-money $5.9 billion, with investors including Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures amongst others.

---

Subscribe to Weekly Essentials

SUBSCRIBE