“Surge in Blockchain Gaming: 7.4 Million Active Wallets Powered by a 421% Growth in 2024!”

Pixels maintained its leading position throughout the year. In 2024, the game migrated from Polygon to the Ronin Network, greatly enhancing scalability.

Key accomplishments included the expansion of the Farm Land NFT collection, which allowed players to customize and administer virtual plots. Furthermore, December marked the unveiling of Pixel Dungeon, a collaborative initiative with Crack and Stack, introducing high-speed Web3 gameplay to its ecosystem.

Among newly launched titles, Off The Grid made a significant impression. On October 8, Gunzilla Games initiated Off The Grid in early access for PlayStation 5 and PC via the Epic Games Store. Influencers such as Ninja propelled the game into the spotlight, though interest diminished as influencers shifted to other titles.

World of Dypians continued its advancement, especially following a substantial patch release on Epic Games in May. This update, created in partnership with Core DAO, Viction, and MultiversX, introduced new regions within the downtown area of its metaverse, enhancing exploration and gameplay. In December, the rollout of .wod domain names through SPACE ID Protocol enabled players to personalize their identities and encourage community interaction.

Seraph: In The Darkness gained popularity with its loyal player base, finishing a third cycle of alpha testing in January. By December, the game’s official Steam page launched, complete with detailed information, media assets, and a wishlist feature—solidifying its status as a highly anticipated Web3 title.

Despite the diminishing excitement around move-to-earn mechanics, Sweat Economy remained resilient. The platform introduced Magic Keys for enhanced security within its Sweat Wallet app and initiated multi-chain integration, commencing with BNB Chain, for seamless cross-chain transactions.

StarryNift distinguished itself with innovative features like the build-to-earn citizenship system and the decentralized identity (DID) card protocol. Enhancements included customizable bot tools, third-party…

integrations, and AI-enhanced NPC interactions through a sophisticated SDK framework, boosting user engagements in the digital realm.

Apeiron’s AGW Invitational Tournament in June garnered significant interest, with leading guilds clashing in a double-elimination style. The S3 launch of the game unveiled updated PvE dungeon modes, a quest system, and a captivating narrative, enhancing the gameplay environment.

Another recent launch was RavenQuest, a free-to-access fantasy MMORPG, recognized as the “Best Adventure Game” at the 2024 GAM3 Awards. During its early access stages, this game mesmerized over 1.7 million Twitch spectators and conducted a completely sold-out Phase 3 land sale in December.

Surge in Telegram-based gaming

Telegram emerged as a hub for casual blockchain gaming. Notably, Hamster Kombat, which debuted in March, attracted over 300 million participants by mid-year. The whimsical Web3 elements of this game fueled viral sharing and user interaction.

The Open Network (TON), linked with Telegram, became a prominent platform for on-chain gaming, with an average of approximately 108,000 daily Unique Active Wallets (dUAW) throughout the year. Popular gaming dapps on TON featured Catizen and Lingo. Furthermore, networks such as Mantle began to explore collaboration with Telegram, enhancing the ecosystem’s flexibility.

Web2 gaming transitions to Web3

Companies from Web2 progressively ventured into the Web3 domain.

Ubisoft: The French gaming powerhouse continued its exploration of blockchain through Captain Laserhawk: The G.A.M.E. This overhead multiplayer shooter incorporated Web3 features like NFTs, showcasing characters such as Rayman. To join, players required a Niji Warrior NFT.

Champions Tactics: Grimoria Chronicles: While providing compelling strategic gameplay, the game’s dependence on NFTs, which ranged from $7 to $63,000, sparked discussions within the community.

Sony and Soneium: Sony made advancements in Web3 by establishing its dedicated blockchain division, Soneium, focusing on cutting-edge gaming innovations in the decentralized arena.

Sega’s initiative: Sega collaborated with Line to launch Kaia, marking its entrance into blockchain-based experiences, combining traditional franchises with decentralized technology.

CCP Games’ EVE Frontier: CCP Games enriched its EVE Online universe with EVE Frontier, incorporating blockchain elements to enhance player-driven economies and interactions.

Square Enix’s developments: Square Enix crafted Symbiogenesis, a blockchain-driven narrative expedition, and invested in Soccerverse and Hyperplay, solidifying its stature as a pioneer in the Web3 space.

NFTs in Gaming

DappRadar also disclosed the premier gaming NFT collections, assessing them based on trading volume and sales numbers.

At the forefront is Guild of Guardians, the most traded gaming NFT collection by volume in 2024. Officially released globally on May 15, 2024, this title is accessible on iOS and Google Play, making it broadly available. Players gather teams of heroes, termed “Guardians,” to delve into dungeons, combat foes, and gather resources, seamlessly blending engaging gameplay with NFT functionality.

Gods Unchained sustains a robust presence on platforms such as the Epic Games Store, its official site, and Google Play for Android users. This multi-platform presence guarantees wide accessibility and improves the user experience, reinforcing its status as a significant contender in the NFT gaming landscape.



Despite its long-standing presence in the market, Axie Infinity continues to engage its community, preserving high interaction and economic viability for its in-game NFTs. The game’s perseverance and adaptability highlight its enduring appeal.

The first-generation collection of 10,005 unique NFTs from Pixelmon experienced the most significant volume rise in 2024. These NFTs provide exclusive benefits such as token airdrops, improved in-game earnings, advance access to alpha releases, and special edition items. In May 2024, Pixelmon launched Warriors of Nova Thera, a dungeon crawler currently in closed testing.

Mavia Land, with the second-highest surge in trading volume, symbolizes the virtual parcels within the Web3 multiplayer strategy title Heroes of Mavia by Skrice Studios. It released the Heroes of Mavia mobile game on iOS and Android in January 2024.

Analyzing collections by sales count, the premier titles reflect those ranked by trading volume, emphasizing their broad appeal and impact within the gaming domain.

gaming NFT domain.

The gaming NFT marketplace persists in flourishing, propelled by creativity, availability, and the ongoing appeal of pivotal titles. These assortments symbolize the pulse of the ecosystem, connecting gameplay and blockchain functionality for millions of gamers globally.



In 2024, the metaverse experienced a notable drop in both public enthusiasm and corporate funding.

Initially imagined as the future of digital engagement, the idea struggled to fulfill its lofty promises. Trading activity and sales figures for metaverse NFT initiatives plummeted to their lowest points since 2020, exhibiting an 80% decline in trading volumes and a 71% fall in sales in comparison to the preceding year. This downward trajectory highlights the obstacles confronting the sector, according to DappRadar.

Sales figures have remained fairly stable, averaging approximately 23,000 monthly. However, trading volumes were significantly affected by token valuations, especially fluctuations in Ethereum. The initial quarter of 2024 yielded better results than the subsequent quarters, achieving a total trading volume of $60 million versus a mere $21 million in Q4.

Despite the overall downturn, two new initiatives made a significant impression: Mocaverse and Pixels, noted DappRadar.

Initiated by Animoca Brands, Mocaverse has established itself as a crucial participant in the Web3 arena. The project unveiled the MOCA token and Moca ID, a decentralized on-chain identifier with over 1.79 million registrations and integration across more than 160 Web3 applications.

Mocaverse secured $20 million in funding to broaden its ecosystem and launched the Realm Network, fostering interoperability among gaming, music, and education to bring its vision of a decentralized cultural economy to life.

Initially launched in 2022, Pixels is a browser-based farming MMO that gained considerable momentum in 2024, exceeding a million daily active players. The project transitioned from Polygon to the Ronin Network, boosting scalability and integrating its Farm Land NFTs into the Mavis Marketplace. With customizable terrains and engaging gameplay, Pixels fortified its Web3 ecosystem.

Although the initial excitement surrounding Yuga Labs‘ Otherside has diminished, the project launched “Project Dragon,” a series of monthly action-packed activities for NFT holders. In August, “Otherside Poker” offered a distinctive metaverse poker experience, featuring a charity-oriented VIP table. Otherside also introduced the “Yuga ID,” allowing users to consolidate their accounts and NFTs.

In spite of challenging circumstances, The Sandbox revealed intentions for a mobile version to enhance accessibility, collaborated with over 800 brands (a 10% year-on-year rise), and successfully concluded Alpha Season 4, demonstrating consistent user engagement and platform expansion.

Decentraland presented a new desktop client, providing improved performance and more immersive experiences. Advanced AI functionalities were integrated, enriching user interactions. The platform’s creator-first economy continued to be a standout aspect, with creators retaining 97.5% of their revenue and earning 2.5% royalties on secondary sales—the highest profit share in the sector.

The lack of a “killer app” capable of fostering mass adoption resulted in diminished media coverage and a shift in focus among firms that had significantly invested in virtual realms. Meta, for instance, redirected its focus from metaverse development to artificial intelligence (AI) technologies as the year unfolded, according to DappRadar.

Despite the challenges, the incorporation of blockchain technology within metaverses continued to progress. Platforms merging virtual environments with blockchain aim to fulfill their initial commitments, as per DappRadar. Notably absent from the report was Infinite Reality, which secured $3 billion this year.

The Web3 gaming investment environment



The investment environment for blockchain gaming in 2024 reached its lowest level since 2020, indicating a shift in priorities within the sector. By the close of the year, a total of $1.8 billion was invested in blockchain gaming and metaverse initiatives, reflecting a 38% reduction compared to 2023.

The year showcased a robust performance in Q2, matching levels last recorded in Q3 2022 and marking one of the strongest quarters since then. However, activity saw a sharp decline in Q3 and Q4, contributing to the overall reduction, despite a significant increase in Bitcoin’s value.

In 2024, the majority of investments were funneled toward investment firms, which represented 58% of the total. Infrastructure received 23.5%, Web3 gaming titles attracted 14.8%, while metaverse projects garnered merely 3.6% of the funding.

Key Investments of 2024



A variety of notable investments in Web3 gaming spotlighted the year’s events:

March 2024: Gunzilla Games secured $30 million for its forthcoming cyberpunk-styled battle royale shooter, Off The Grid.

March 2024: Parallel Studios garnered $35 million to broaden the Parallel TCG universe and create additional blockchain-oriented projects, such as Colony and Wayfinder.

April 2024: Andreessen Horowitz (a16z) generated $7.2 billion for diverse investment strategies, among which $600 million was allocated for gaming sector investments.

April 2024: Bitkraft Ventures finalized its third fund at $275 million, concentrating on seed and Series A funding for gaming studios, platforms, and innovations.

May 2024: Baby Shark Universe wrapped up its seed funding round, reaching a $34 million valuation for its metaverse initiative on the Binance Smart Chain.



June 2024: The Sandbox procured $20 million via convertible promissory notes, aiming to enhance its decentralized virtual world and introduce a mobile platform in 2025.

October 2024: Accolade Partners unveiled its third blockchain-centric fund, accumulating $202 million for investments across DeFi, gaming, stablecoins, and supporting infrastructures.

October 2024: Azra Games acquired $42.7 million in Series A funding to develop “Project Legends,” a mobile RPG focused on delivering experiences akin to console-quality.

The blockchain gaming sector has evolved remarkably in recent years, according to DappRadar. As enthusiasm for play-to-earn (P2E) begins to fade, investors are progressively supporting games with viable tokenomics and player-focused ecosystems.

In 2022, the Web3 gaming sector attracted $7.6 billion in investments, a considerable portion of which went to play-to-earn models that have shown to be unfeasible. Nevertheless, some of these investments are starting to yield results, evidenced by the beta deployments of games like Illuvium (announced in 2020), Shrapnel (in production since 2021), and Guild of Guardians (announced in 2020).

Economic circumstances in 2024 have likewise influenced the lower investment activity. DappRadar is optimistic that enhanced economic stability and the release of top-notch triple-A blockchain titles will rekindle interest and adoption in 2025, paving the way for a resurgence in investments.

2025 could mark a transformative year for blockchain gaming, particularly if the industry can attract new players and fulfill the promise of immersive, triple-A-quality titles, DappRadar explained. This next growth phase will be vital for solidifying the role of blockchain gaming within the wider gaming ecosystem.

Final remarks



DappRadar reported that the blockchain gaming industry has exhibited perseverance and adaptability in the face of challenges and changing trends. From groundbreaking technological innovations to alterations in user interaction and investment environments, the sector has continued to reinvent itself, clearing the path for a promising future.

The achievements and insights of 2024 highlight the significance of innovation, viability, and user-focused designs. With exceptional games on the horizon and expanding infrastructure capabilities, the upcoming years hold tremendous potential for blockchain gaming to amplify its impact and bridge the divide between Web3 and conventional gaming audiences, as stated by DappRadar.

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