Blockchain gaming unfazed by crypto volatility as avid gamers ‘hunt down leisure’ – TechCrunch

The web3 gaming business is likely one of the few sectors seemingly unaffected by present crypto market circumstances, with capital persevering with to pool into the house – and a few business gamers say it’s for good cause.

“The present market atmosphere is humorous,” Robby Yung, CEO of Animoca Manufacturers, stated to TechCrunch. “Individuals tend to couple crypto markets with blockchain video games and content material, however truly it’s solely as acceptable as linking tech shares on Nasdaq with the companies of tech corporations. There’s a sure correlation, nevertheless it’s tenuous.”

Whereas the crypto business was in freefall over the previous few months, web3 video games remained pretty steady. In Might, over 1.15 million every day distinctive energetic wallets interacted with blockchain video games, down simply 5% from the earlier month, in keeping with a DappRadar x BGA Video games report.

The variety of energetic customers “has nothing to do with the market,” Yung stated. “You’ll be able to argue it’s countercyclical as a result of as we see in leisure merchandise, there tends to be extra consumption when the economic system shouldn’t be so good as a result of individuals will hunt down leisure,” he added.

Whereas the way forward for the business was in query amid the bear market of 2018, there was great validation and progress since then, Yung stated. “The remainder of the 12 months will certainly be difficult, however I’m optimistic for the primary quarter of subsequent 12 months.”

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