Messari reposted this
Alex Matthews, Ross Trachtman, and I just released a report on the state of web3 gaming (Q2 and through 8/9). Some highlights: Top 30 gaming token performance: - As of the end of Q1, 23 were in the green - As of 4/30, 9 were in the green - As of the end of Q2, 2 were in the green - As of 8/9, zero were in the green New gaming token listings and average performance as of 8/9: - Q3 2023: 6 new gaming tokens / -9% - Q4 2023: 10 new gaming tokens / -85% - Q1 2024: 18 new gaming tokens / -76% -Q2 2024: 24 new gaming tokens / -59% It's not just gaming tokens that took a hit, it's all alts. On Binance, since the start of 2024 through 8/9: non-gaming new token listings are down 51.3% on average versus gaming new token listings down 62.7% on average In the report, we also cover: - how gaming tokens are competing with non-gaming alts and memecoins for web3 native mindshare/trading vols and consider what may happen to the price of SOL if/when the memecoin craze ends - why ICOs may have been the most "fair" structure for retail versus today's low float/high FDV and unsustainable airdrop structures -how many "players" does Telegram game Catizen have and how many are onchain and/or bots? We take a stab at figuring that out! We also dig into some incorrect gaming fundraising data -we conclude with why we remain as bullish as ever on crypto generally and on the future of web3 gaming Thanks so much for supporting us again Maartje Bus and Messari! Thanks also to Harshvardhan Todi, who compiled all the data in this report (and our Q1 report too!). Thanks also to Joon Park, an intern with the BHD venture team, for his research on the TON ecosystem. Full report here: https://lnkd.in/gbBGTFkJ.