A recent report by DappRadar indicates that blockchain gaming has seen a significant increase in market capitalization, with the top gaming tokens experiencing an average increase of 122% in January 2023.
Gala (GALA), the digital utility token of Gala Games, saw its value climb by 218% during the same period. This has been attributed to increased interest in gaming tokens, with mainstream media coverage boosting buzz around the sector.
In addition, the report shows that the play-to-earn model and quality improvements have contributed to the rise in activity around blockchain gaming.
The research also highlights the significance of the metaverse in the sector’s growth, with virtual world games experiencing a 114% increase in trade volume.
The report predicts that blockchain gaming will continue to see investment growth, with total investments expected to reach around $7.6 billion in 2022, representing a 105% increase from 2021.