November 2024 was a significant month for blockchain gaming, marking a period of increased activity, innovation, and investment. The rise of user engagement mirrored the broader momentum in the web3 ecosystem, especially as Bitcoin reached a historic milestone of surpassing $100,000. The blockchain gaming sector saw a notable increase in market share, demonstrating the growing importance of this industry within the wider web3 space.

November 2024 Saw $222 Million Invested Into Web3 Gaming

Blockchain Gaming Overview

According to the DappRadar November Games Report, blockchain gaming captured 28.2% of the total market share in November 2024, with 6.8 million daily unique active wallets (dUAW) interacting with gaming dapps. This represented a 16% increase compared to October, highlighting the growing popularity of blockchain-based gaming experiences. Although decentralized finance (DeFi) remained the dominant category with 33.4% of the market share, the gaming sector continued to show promising growth and innovation.

Industry Dominance by UAW

The growth was further driven by leading blockchain platforms such as opBNB, which maintained its position as the top-performing blockchain for gaming. Popular titles like "Seraph: In the Darkness" helped solidify opBNB's dominance. Other blockchain ecosystems like Sei, Aptos, and Mantle Network also gained significant traction. For example, the launch of “The Evergreen: Midnight Market” on Aptos demonstrated the platform's continued potential with its novel approach to gaming and token rewards.

Top Gaming Blockchains

Fastest Growing Chains

The Sei Network had a remarkable month, driven by the success of its Dragon Slither game dApp along with several other gaming applications. One of the major highlights was Drift Zone, a web3 studio focused on Gacha games, which secured a $190,000 grant on November 15 to integrate its ecosystem with Sei. Additionally, SEIYARA, an intergalactic farming simulation game, officially launched on November 1 after a successful beta phase that attracted over 370,000 monthly active users.

The SKALE ecosystem also experienced significant growth during this period, with a focus on its Europa and Calypso chains. Key contributors to this expansion included games such as Hello Pixel and Pixudi, which have been central to the platform’s increased engagement.

The ecosystem saw the introduction of several new projects, including DexGo, an augmented reality game designed to encourage healthy lifestyles through move-to-earn mechanics while offering a zero gas fee structure. Similarly, Katana Inu, a multiplayer PC game emphasizing spell and sword combat, began leveraging SKALE for its gas-free gameplay environment. Other notable launches included Cryptopia, a blockchain-based strategy RPG, and Savvio, a gamified DeFi platform that enhances accessibility by eliminating gas fees. 

Other Gaming Chains

Top Web3 Games

November saw numerous games and platforms rising to prominence within the blockchain gaming space. One of the standout performers was GombleGames, which successfully integrated its GOMBLE SQUAD social gaming portal with EggDrop, a hyper-casual game on Telegram. This collaboration provided players with a more interactive and social gaming experience, which helped boost engagement levels.

Another notable title was SERAPH: In the Darkness, which saw its Steam page go live in November, providing players with more detailed game insights and visuals. The game's growing community and online presence played a crucial role in its success during the month.

Top Web3 Games

Trending NFT Collections

In the NFT gaming space, Guild of Guardians (GoG) maintained its leadership position, particularly in trading volume. The game introduced new characters and an innovative Pets feature that added new gameplay depth. Meanwhile, Gods Unchained continued to capture attention with its Season 2 update, which introduced various community-driven modes designed to enhance accessibility and creativity in gameplay.

November was a month of significant developments for Axie Infinity. On November 21, Sky Mavis announced a 21% reduction in its workforce to streamline operations and prioritize core products, such as the Ronin Wallet, Mavis Marketplace, and a new Axie game slated for release in Q1 2025. Additionally, the "Wings of Nightmare" event introduced the Lunacian Dream World, a feature enabling players to evolve Axies' base parts into limited Nightmare Parts, capped at 39,000, enhancing both scarcity and player engagement.

Top Gaming NFT Collections

Over $222 Million Invested

November 2024 also saw a notable surge in investments within the web3 gaming sector. A total of $222 million was invested, marking a significant 148% increase compared to the previous month. This growth underscores the increasing confidence in blockchain gaming and metaverse projects.

The largest investment came from Accolade Partners, which closed its third blockchain-focused fund, Accolade Blockchain III, at $202 million. This fund aims to support startups in various blockchain sectors, including gaming, DeFi, and stablecoins, emphasizing the growing diversity within the industry. Additionally, Kratos Gamer Network (KGeN) secured $10 million in funding to expand its decentralized gaming guild ecosystem, highlighting the potential of decentralized communities in shaping the future of web3 gaming. Lastly, Animoca Brands continued to expand its presence in the metaverse, investing $10 million into Mocaverse.

Investments in Web3 Gaming Projects Nov 2024

Final Thoughts

November 2024 was a pivotal month for blockchain gaming, with increased user engagement, innovative gaming experiences, and substantial investments driving the sector forward. The blockchain gaming market demonstrated resilience and growth, showing its potential to continue thriving in the web3 ecosystem. As the year progresses, the momentum established in November sets the stage for further development and innovation, positioning blockchain gaming for continued success in 2025.

Source: DappRadar