Web3 Gaming – Weekly Market Insights

Ephraim Austin

Jan. 27, 2023

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
  • Web3 gaming funding announcements
  • New games launched
  • Yield farming opportunities

Top 10 Gaming Projects by Market Cap 

Top 10 web3 games by market cap.

  • ApeCoin came in at the top spot, up 34% on the week due to the successful launch of Dookey Dash. 
  • Axie Infinity had a surprise boost of 47% despite the unlock of 4.8 million $AXS tokens (around $58 million).
  • On the back of a relatively green market, we saw gaming names like STEPN, MAGIC and RNDR show strong performance without any significant news. 

Top 10 Gaming Projects Market Movers

Top gainers and losers -web3 gaming

  • NFT Worlds saw a 183% jump, MAGIC up 85%, and EPIK Prime up 80% over the last week as metaverse-related names have outperformed recently. 
  • The laggards this week include DeFi Land, GameZone, Battle World, Wownero, and Rush Coin with no significant news.


  • 1/18/23: Virtualtech Frontier, a metaverse development company, has secured seed round funding from Blockchain Founders Fund. Link
  • 1/19/23: Neopets Metaverse raised $4M in funding from industry leaders in the gaming and blockchain sectors, including Polygon Ventures, Blizzard Avalanche Ecosystem Fund, Hashkey Capital, IDG Capital, and gaming giant, NetDragon Websoft. Link
  • 1/22/23: Saudi Arabia-based Sandsoft Games, a mobile-first game developer, publisher and investor, has invested $3.25 million in The Tiny Digital Factory, an independent developer of mobile racing and motorsport games. Link
  • 1/22/23: The Asia Blockchain Gaming Alliance has announced the launch of a $45 million eco fund to drive innovation in the blockchain gaming industry in Asia. Link

Games Launched

  • Gate of Abyss is a free-to-play location-based RPG game launching on Google & Apple stores and the Ethereum blockchain. Players can expect to fight monsters, occupy territories, combat other players, build a variety of buildings, and explore the world to leave their mark. 
  • The Sol Den features three rival gyms competing for fame and glory on the Solana blockchain. Fighters from their respective classes — Featherweight, Middleweight and Heavyweight.
  • MetaLifes is a multi-chain Traverse-to-Earn MMORPG game focused on decentralized social interaction and exploring the evolution ability, embodied by GPS and AR/VR technology.
  • Isekaiverse is an anime-themed blockchain technology company available on Polygon, Binance Smart Chain and Ethereum.
  • Obots is a fighting game in which you can earn profits by competing in 1vs1 fights against online players.

Yield Farming

  • Despite the bear market, games are still building. This means projects will continue to incentivize users to support their project. One popular way to do that is yield farming crypto.
  • For those who are new, yield farming is the process of investing your tokens or NFTs in protocols (primarily DeFi platforms) to generate yield. The activities include joining liquidity pools, staking, borrowing or lending.
  • Projects typically create these opportunities either to 1) attract liquidity, 2) incentivize HODLing or to 3) distribute token ownership to a wider base in an effort to decentralize. They provide incremental yield by awarding tokens to depositors (or stakers).
  • Each week we will be breaking down some notable Web3 gaming yield farming opportunities. 

DEX Opportunities

  • One of the main ways to generate yield using gaming tokens is to invest in liquidity pools (LP) and then depositing your LP tokens into a “farm” operated by a DEX. Below you can find notable Web3 gaming farms. 

Web3 gaming yield farming opportunities

  • The highest-yielding farm is Primal at 141% with $431K of liquidity. Other notable farms include STEPN, Axie Infinity, and MBOX. 

Staking Opportunities

  • Usually, you can find staking opportunities directly on the games website. We have compiled a list of selected games with staking APY and the time you are required to lock it up. 

Web3 gaming staking opportunities