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Declines in monthly NFT marketplace volume continued last month as the industry entered Q3 mired in the bear market.
While retail may be down, blockchain gaming and NFT projects did not seem to be impacted as severely as other crypto areas in the Q2 investment reports.
The market downturn has not slowed investor interest in gaming and NFT projects.
Blockchain gaming accounted for 47% of investments from the top 10 most active crypto investors in Q2 of 2022, including Coinbase Ventures, a16z, and Dragonfly Capital.
«On average, NFTs/Gaming vertical proportionally take up almost half of all the most active deals, and, at least relatively, the interest in the blockchain gaming sector is not easing» – The Block researcher Edvinas Rupkus.
In Q2-Q3 2022, the P2E and NFT market cap have dropped significantly, flushing low quality projects. Communities and lauchpads now request well thought-out games, lead by an experienced team and with battle tested tokenomics.
Skilled game studios are the ones capable of developing products that are fun and engaging with users long term.