Pixels: A Popular Web3 Game with Low Trading Volume
In the first days of 2024, the massively multiplayer online game (MMO) Pixels has taken the Web3 gaming world by storm, attracting 123,100 unique active wallets (UAW) in the last 24 hours. This laid-back adventure game allows players to farm, explore, own land, and flex their non-fungible tokens (NFTs). Despite its popularity, the in-game token, BERRY, has a value of only $0.0002, resulting in a meager total in-game trading volume of $6.51. While UAW is a solid indicator of player engagement, it doesn’t capture everyone actually playing the game, as some users may not be making in-game transactions during that period.
While Pixels dominates the UAW charts, the fitness app Sweat Economy claims the second spot with 102,600 UAW and $34,700 in-game trading volume. The well-loved blockchain card game Splinterlands experienced a 40.24% drop in UAW, with only 41,800 users engaging in transactions. On the other hand, Axie Infinity saw a 21.59% increase in UAW, with 15,900 users interacting with the game. It seems that card games are not starting the new year with the same level of popularity as other genres.
Avalanche’s Head of Gaming Predicts Challenges for Web3 Games
Ed Chang, the head of gaming at Ava Labs, the team behind the Avalanche blockchain, is optimistic about the future of Web3 gaming in 2024. However, he believes that user acquisition and the regulatory environment will be the biggest challenges for new games entering the market. Chang emphasizes the importance of having the right marketing budget and strategy in place for new games to succeed. He mentions five new game releases in 2024 that he’s excited about, covering various genres and catering to a wide range of players.
A Review of Titan Hunters: A Play-to-Earn Game on BNB Smart Chain
Titan Hunters is an MMORPG play-to-earn game that utilizes BNB Smart Chain. In the game, players take on the role of hunters, enhancing their weapons and armor to battle against powerful monsters. However, for those who prefer instant gratification, players can invest crypto to acquire high-level armor without having to grind and level up. The game also features collectible pets called Titans, which are NFTs that players can use to battle other players or team up for epic showdowns against other Titans. While the concept of Titan Hunters seems promising, the game falls short in terms of graphics, gameplay, and user experience. The controls feel clunky and navigating the game can be confusing, even with a brief tutorial. It may appeal more to a younger audience, but the lack of overall enjoyment makes it less compelling for players of all ages.
VanEck’s Big Prediction for Web3 Gaming in 2024
Asset management firm VanEck has made a bold prediction for Web3 gaming in 2024. In its report titled “VanEck’s 15 Crypto Predictions for 2024,” the firm claims that a groundbreaking blockchain game will surpass 1 million+ daily active users, showcasing the long-awaited potential of blockchain gaming. While such predictions have been made in previous years, VanEck’s optimism reflects the growing interest and investment in the Web3 gaming industry. The report also highlights the potential of Immutable, a gaming platform that aims to tackle the lack of fun in Web3 gaming. Immutable has multiple AAA games in development, with funding exceeding $100 million, set to be released in 2024.
Other News: Gods Unchained Makes a Comeback, Keywords Studios Acquires The Multiplayer Group
In other news, Immutable’s Gods Unchained has made a comeback on the Epic Games Store after a brief hiatus. The game received an Adults Only (AO) rating from the Entertainment Software Rating Board (ESRB), leading to its removal from the store. However, it has since returned, allowing players to once again enjoy the game. In the acquisition space, Keywords Studios has acquired UK development studio The Multiplayer Group for £76.5 million ($96.5 million). This strategic move strengthens Keywords Studios’ position in the gaming industry and expands its capabilities in multiplayer game development. Additionally, Planetarium Labs’ RPG Nine Chronicles has recorded over 250,000 downloads on its mobile version and became the #1 game on Google Play. Medieval Empires has introduced the “MEE to Play” release, offering additional land NFTs and allowing players to rent spaces on their land NFTs and stake their MEE tokens.
As the Web3 gaming industry continues to evolve and grow, these developments and predictions showcase the potential and challenges faced by the sector in the year 2024.
Analyst comment
1. # Pixels: A Popular Web3 Game with Low Trading Volume: Neutral news. The low trading volume of Pixels’ in-game token may indicate limited market interest. The future of the market will depend on efforts to increase the token’s value and attract more active traders.
2. Avalanche’s Head of Gaming Predicts Challenges for Web3 Games: Positive news. The head of gaming at Ava Labs is optimistic about the future of Web3 gaming, highlighting potential game releases and emphasizing the importance of marketing and user acquisition. This bodes well for the market.
3. A Review of Titan Hunters: A Play-to-Earn Game on BNB Smart Chain: Negative news. Despite its promising concept, the game falls short in terms of graphics, gameplay, and user experience. It may struggle to attract players of all ages and may have limited appeal.
4. VanEck’s Big Prediction for Web3 Gaming in 2024: Positive news. VanEck’s prediction of a groundbreaking blockchain game surpassing 1 million+ daily active users reflects growing interest and investment in the Web3 gaming industry. This prediction indicates a positive outlook for the market.
5. Other News: God Unchained Makes a Comeback, Keywords Studios Acquires The Multiplayer Group: Mixed news. God Unchained’s comeback on the Epic Games Store is positive, indicating renewed availability and enjoyment for players. Keywords Studios’ acquisition of The Multiplayer Group strengthens their position in the industry. These developments show both positive and neutral trends in the market.
