Blockchain Games Unconcerned By Crypto Volatility As Gamers ‘Search For Fun’

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Web3 games The industry is one of the few sectors that appears to be unaffected by current crypto market conditions, with capital continuing to pool into the space – and some industry players say there are good reasons for this.

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“Current market conditions are funny” – Robbie Jung, CEO Brands Animok, said TechCrunch. “People tend to associate crypto markets with games and content on the blockchain, but this is really only relevant if you associate technology stocks on Nasdaq with technology company business. There is a certain correlation, but it is insignificant.

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While the crypto industry has been in freefall over the past few months, web3 games have remained fairly stable. According to DappRadar x BGA Games, over 1.15 million unique active wallets interacted daily with blockchain games in May, down just 5% from the previous month. report.

According to Jung, the number of active users “has nothing to do with the market.” “You could argue that this is counter-cyclical because, as we see in entertainment products, consumption tends to be greater when the economy is not as good because people will be looking for entertainment,” he added.

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While the future of the industry was in doubt amid the 2018 bear market, there has been huge confirmation and progress since then, according to Jung. “The rest of the year will definitely be challenging, but I’m optimistic about the first quarter of next year.”


Credit: techcrunch.com /

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