While the field Web3 and GameFi continued to cost users in June and saw funding rounds cut, several popular games kept token prices and user numbers relatively stable. Additionally, gaming platform BinaryX reversed a downtrend, creating a rare breakout amid a bear market, and game developer Playful Studios raised a record amount for its Wildcard fighting game.

Regardless of the problems of the old leaders like Kingdoms and However, these developments show that while many difficulties may exist for developers and buyers in the , but the industry is far from collapsing.

The general market continues to be gloomy. Footprint Analytics data shows that, last month:

  • Market volume down 30.3% MOM, with trading volume down $166 million.
  • GameFi has a total of 1.46 million users, down 26.9% MOM. The number of new users also decreased by 34.1%.
  • Investments from venture capital firms (VCs) in the GameFi sector decreased by 57.7% MOM.

On the other hand, in addition to the doldrums, "risky" investments such as Land and have performed relatively well against “safe” assets like BTC and .

Here's what happened in GameFi in June.

Overall Quotation of GameFi Market

GameFi project increased by 2.9% over the previous month, funding decreased by 57.7% over the previous month

The number of GameFi games stood at 1,557, an increase of 2.9% from the previous month. Newly released GameFi projects include MIND Games, Fishing Lands and Survivor currently has very few transactions and users.

The GameFi Sector Is Struggling, But Not Defeated
GameFi Protocol/Chain/GameFi Genre
The GameFi Sector Is Struggling, But Not Defeated
Newly released GameFi projects

Although the market is extremely scared, it still does not stop new projects from appearing.

Funding was down $239 million, or 57.7%, compared to May. In terms of funding rounds, there are more seed rounds than any other category.

Capital mainly flows into the Web3 and . A Web3 project, Wildcard, received $46 million, making it one of the few successful projects during the bear market. Cryptoys, a toy project collectible, digital, closed a funding round with $23 million led by a16z.

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The GameFi Sector Is Struggling, But Not Defeated
Distributing game sponsorships
The GameFi Sector Is Struggling, But Not Defeated
Number of GameFi projects funded in June

Total GameFi users down 26.9% from last month, volume down from $547 million to $382 million

Although more innovative games and projects are starting to emerge, the macroeconomic environment and volatility of the cryptocurrency market have pushed the number of active users down from a peak of 3.58 million. in January to 1.46 million at the end of June. The number of new users also gradually decreased to 500,000. Compared to May, the number of active users decreased by 26.9% and the number of new users decreased by 16.1%.

The GameFi Sector Is Struggling, But Not Defeated
Monthly GameFi users
The GameFi Sector Is Struggling, But Not Defeated
GameFi New Users Follow Chain

In addition, the overall trading volume in June decreased by 30.3% compared to May.

The GameFi Sector Is Struggling, But Not Defeated
GameFi Monthly Volume

WAX has the most GameFi transactions out of all chains with 87%. This is due to its two flagship game projects, Farmers World and Alien Worlds. Both have maintained a steady number of transactions and users during the bear market.

The GameFi Sector Is Struggling, But Not Defeated
June Txn according to Chain
The GameFi Sector Is Struggling, But Not Defeated
Top 5 games by user

Analysis of the GameFi project in the bear market

BinaryX quietly revived

When the bear market was in full swing, previously lucrative projects like Bomb , Kingdoms and StepN have seen NFTs and their tokens severely depreciate, by a fraction of ATH. BinaryX, which was originally a trading protocol that migrated to GameFi and launched a successful game called CyberDragon, seems to be one of many such projects.

BinaryX released its governance token, BNX, at $20.62 in September. In November, announced that BNX is on the Innovation Board and can be deposited on the platform as a perpetual currency, meaning that the coin has no collateral period and holders can directly buy for any number of days for earnings, with an APR of 15%. This caused BNX to hit an ATH of $200.71 on November 15, up 873%.

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The GameFi Sector Is Struggling, But Not Defeated
Top 10 GameFi token prices 

But the good times didn't last. The developers of BNX CyberDragon have modified the character upgrade function multiple times to earn more in-game currency — upgrades require spending Gold.

As a result, most players sold their game assets and left the market, resulting in a rapid decrease in revenue and difficulty attracting new users. This caused BNX to drop from an ATH of $200.71 on Nov. 15 to an all-time low (ATL) of $17.71.

The GameFi Sector Is Struggling, But Not Defeated
Daily New Users & Active Users of BinaryX 

To save the project, BinaryX released CyberDragon V2 in March, adding new modes and gameplay. It also includes a new casting and upgrading mechanic for heroes, which they hope will add to price stability.

Emerging GameFi Projects

The GameFi Sector Is Struggling, But Not Defeated
Top 20 game finance rankings in June

On June 14, The Wildcard Alliance, a gaming ecosystem from Playful Studios, announced the end of a $46 million Series A round.

The funding goes towards Wildcard, a massively multiplayer online fighting game. Besides playing their NFTs against each other, participants can interact and trade directly with fans and in-game holders.

In the context of the current strong devaluation of virtual assets, Wildcard can still receive huge financial resources to support its project development.


While the overall market continued to slide into June, individual developments in the GameFi sector have shown that it may be more resilient than many thought.

Review of crypto events in June

NFT and GameFi

  • Stepn returns to the top of the market with a price increase of 75% in the past 7 days
  • Yuga Labs breaks the silence, X2Y2 goes beyond
  • NBA Top Shot leads the way with a spike in sales of 901,95%
  • Paris Saint-Germain and Jay Chou launch exclusive 10,000 NFT series “Tiger Champs”
  • Phantom partners with Magic Eden to deliver an integrated user experience for NFT Collectors
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and Web3

  • Metaverse Land price exploded at 879% since 2019
  • Bertelsmann raises $500 million for India, looks at Web3 early-stage investments
  • Layer Three Ventures Announces Fund $30 million Web3 and accelerators
  • A “very ambitious” $100 million Metaverse R&D center is under construction in Melbourne
  • Facebook Pay rebranded to Pay as Zuckerberg details his plan to create a digital wallet for Metaverse

DeFi and Token

  • transition to a two-stage voting governance model with a regular voting phase and an objection phase
  • After the fall in the price of BTC, miners benefit from difficulty reduction 2,35%
  • Addresses starting with 0x40 paid around 13.4 million to pay the debt on
  • on Layer-2 dropped to $3.78 billion, down 20,77% in 7 days
  • Whale lớn nhất đã mua 927 BTC trong tháng này

Network and infrastructure

  • Pause Odyssey when Layer-2 fees exceed Mainnet's fees
  • restart the Ronin bridge after being 625 million dollars a few months
  • The energy consumption of plummet as profitability from mining decreases
  • Horizon cross-chain bridge attackers moved 6012 to Tornado Cash
  • Performed full audit by 12 top companies for reserve transparency


  • Genesis faces 'hundreds of millions of dollars' loss when exposure to crypto lenders
  • First Global Alliance of Entrepreneurial Tech Founders Raises $158M in Series C Funding
  • Cryptocurrency exchange Unizen receives $200 million “Capital Commitment” from GEM (Global Emerging Market) investment team
  • Application .com now accepts Apple Pay
  • added support for on-chain transactions of and

All around the world

  • Taiwan central bank governor reviews central bank digital currency design () interest-free to prevent fiat deposit flight
  • North Korea Still Leads in Crypto Crimes, Over $1.5 Billion Stolen
  • Russian parliament approves tax relief for digital asset issuers
  • Tổng thống Cộng hòa Trung Phi khởi động sáng kiến tiền mã hóa sau khi áp dụng Bitcoin
  • New York Cryptocurrency Conference at an impasse

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