The crypto gaming market is currently at the precipice of major crises. The year started on a high note but soon cascaded into oblivion. BTC, the biggest token of all time, surged at the beginning of the year but crashed heavily, starting a cycle.
One interesting phenomenon people have noticed is that crypto crashed at the beginning of the year. However, the transactions doubled. This shows the contradictory dynamics of crypto as a whole.
Increase In Transaction
Even though transactions in the crypto community have increased, sources suggest that crypto gaming fundraising has dropped by around 71%. Just a year ago, the figure was close to 310 million US dollars, but now, it is somewhere around 91 million US dollars. This sharp decline is alarming and has put people on edge.
However, it is safe to say that the Web3 ecosystem is not dead. At press time, transactions had risen by 35%, which suggests that the system still has some investors. However, the remaining investors are a careful bunch. They allocate their funds carefully.
The majority of funds injected into crypto are directed toward improving the infrastructure. This means that people are not investing in games or platforms. Instead, they want to invest more in the infrastructure to make it more profitable.
However, the current state of the market could mark a strategic turning point. It could push the market towards a more methodical nature. An ecosystem that can foster long-term projects.
