Market Insights – Web3 Gaming

Welcome to our weekly Web3 Gaming Market Insights where we break down key trends in the Web3 Gaming market. 

In this article we’ll be covering

• Top 10 games by market capitalization
• Top 10 gainers/losers for the week
• Weekly funding news
• New games added
• Upcoming launchpad sales

Top 10 Gaming Projects by Market Cap 

• ApeCoin is still holding down the number one spot with a $1.26 billion market cap, up 7.67% on the week as the gaming sector was in the green.  
• The composition of Top 10 gaming changed slightly this week. Gala dropped out of the top 10 and WEMIX jumped back into the number 10 spot. 
• Render Token ended up 40% on the week with no significant news. 
• WEMIX ended the week up 34% after entering into a strategic partnership with NEAR Protocol.

Top 10 Gaming Projects Market Movers

• MagicCraft led the weekly gainers up 63% after securing investment at a $46M valuation. 
• WEMIX ended the week up 34% after entering into a strategic partnership with NEAR Protocol. 
• The other gainers included Wilder World, Render, and Cocos with no significant news. 
• GZONE led the weekly losers, down 15% with no significant news. 
• The rest of the weekly losers did not have any significant news.  

Funding

• 5/15/23: Metaverse gaming company Super League Gaming has raised $23.8 million in funding from selling convertible preferred stock. The firm plans to use the capital to settle debt, as well as fund operations and other initiatives (Link).

• 5/16/23: Web3-focused venture capital firm Red Beard Ventures has secured $25 million in a funding round led by Animoca Brands, SuperRare, and a16z, to support DeFi and Web3 gaming projects (Link).

New Games

• Game Dosi is a Web3 game platform developed by Asian social app Line’s NFT and blockchain-focused subsidiary Line Next.

Launchpad – Upcoming Sales

Below are upcoming gaming sales found on Seedify, Polkastarter, and Enjinstarter

Kaokuma is a multiplayer online APRG game set in the vast metaverse of Laria, where participants can discover NFT treasures, craft weapons, and battle monsters and players. The game’s sale ended on January 14, 2023.

Citizen Conflict is an upcoming free-to-play hero shooter game built in Unreal Engine 5 and launching on the BNB Chain. The game has already reached its goal to reach $650,000 

Plutonians is a virtual reality (VR) space RPG based on the Solana blockchain. So far, the project has raised $125,000 in a private round.

Time Raiders is a Polygon-based adventure shooter game. Its initial DEX offering (IDO) has raised $200,000 so far, while its second round Private sale has raked in $150,000.

GridZone is a metaverse game that offers 3D and VR gaming, NFT minting, staking and many more. 

Ancient Kingdom is a survival RPG with ancient martial arts elements that pit warriors, monsters, and other fighters in battle.

Mecha Morphing is a fully decentralized action role-playing game (ARPG) where players can earn gold in battle, forge weapons, loot land, and many more. 

Cryptoverse is a virtual world building platform for play-to-earn (P2E) games. Built using Unreal Engine, the project recently launched an initial NFT offering (INO).

Spark Era: Echo to Universe is a space action and adventure RPG that features thousands of galaxies and millions of planets. 

DEFY is a location-based augmented reality (AR) action and adventure game set in a dystopian future. DEFY has raised $200,000

Chain Guardians is a futuristic turn-based RPG project that allows players to earn by following the game’s story, looting rewards, or battling other participants.

SolChicks is a Solana-based breeding MMORPG game with collectible NFTs featuring chicken warriors known as ‘SolChicks.’

League of Empires is a massively multiplayer online real-time strategy game (MMORTS). The medieval-inspired title has raised $200,000 from its IDO.
Wonderman Nation is a space-themed, turn-based PvP game on Phantasma-Chain. So far the project has raised $800,000.