With the collapse of FTX and Alameda and cryptocurrency markets in red, it would be easily believable that crypto gaming would be collapsing too. Yet the situation is the opposite and blockchain games are showing the highest levels of resistance to the latest collapses of the exchanges. At the time of writing, the top crypto games drive over 800k unique active crypto wallets (UAW) into the market.
- Over 800k UAW used in blockchain applications
- Almost 500k of UAWs in Alien Worlds and Splinterlands
- Top crypto games barely affected by the collapse of FTX and Alameda
It is easy to say that looking from the outside, the crypto industry has just (once again) reached such low levels that there is no way back. However, the landscape is far from being as bad and there still are some silver linings in the dark cloud of downtrends. Decentralization still did not lose its importance and still finds use in various apps.
FTX collapse is not as important here
For many who have entered the crypto sphere from a gaming or on-chain items angle, the collapse of FTX and Alameda is not something that may seem important. And actually, why should they? Most crypto games have their internal marketplaces and staking options for the players, making keeping the tokens in their crypto wallets necessary. In this way, crypto gamers also learn the lessons of – not your keys, not your crypto, themselves.
Gamers keep on playing
image via axie.substack.com
While emotional sentiments might be telling that cryptocurrencies are at their lowest lows right now with some people losing most of their investments, gamers are not so moved by that. They are still playing, earning rewards, and slowly moving towards mass adoption of crypto. Looking at crypto games, that can be seen too – over the last weeks, they did not get noticeably lower in popularity. Though that makes sense – earning rewards and tokens when their values are down can bring greater profits in the future, when market prices become more appealing.
What is to come to crypto games
Without a doubt, everyone in Web 3.0 has been affected in one or another by the collapse of FTX and Alameda. Even if not financially, the trust and confidence of the industry have surely been shaken and can lead to a far less stable landscape. Many projects are still going strong with the belief that Web 3.0 offers the best possibilities for future growth. Nonetheless, at the current times, it is even more important to be cautious and careful about all projects – doing Your own research has never been so useful!
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