Complete Gate Post tasks to upgrade your rank

Credit Ranking

[//]:content-type-MARKDOWN-DONOT-DELETE
![](https://gimg2.gateimg.com/image/article/16782634181.18.jpeg)

Many cryptocurrencies were bullish from the start of 2023 up to February. 

On-chain activity for web3 gaming tokens has been increasing since January 2023. 

Yuga Labs’  Bored Ape Yacht Club, Mutant Ape Yacht Club and Sewer Pass NFTs performed well during January and February 2023.  

Sandbox, <a href="/price/decentraland-mana" target="_blank" class="blog_inner_link">Decentraland</a> and Otherside are some of the gaming platforms that performed well during January and February. 

## Introduction 
There was great disillusionment in the crypto sector in 2022 as the bear market stretched for several months with no sign of abetting. However, the situation has turned differently since the beginning of 2023 as different cryptocurrencies have shown clear signs of recovery. Today, we shall discuss the recovery path the industry has already taken. 

## Growth in on-chain activity 
There has been an increase in the on-chain activity for the crypto gaming sector, which shows signs of recovery for the sector. According to DappRadar, the blockchain gaming industry growth was 1.31% with a record high of 858,621 daily Unique Active Wallets (dUAW), which accounts for 48% Dapp activity. 

In January Alien Worlds had the greatest level of on-chain gaming activity, with 75% dominance. In addition, [the sector had over 2.69 billion consumers](https://www.statista.com/statistics/278181/global-gaming-market-revenue-device/ "the sector had over 2.69 billion consumers") from different virtual worlds. Despite 2022’s bear market the mobile gaming sector recorded around $103.5 billion in revenue during that year.

The Yuga Labs ecosystem remains one of the key players in the web3 gaming sector as it registered significant gains in January and February 2023. Apart from Bored Ape Yacht Club and [Mutant Ape Yacht Club NFTs](https://www.gate.io/nft/collection/1435/Mutant-Ape-Yacht-Club "Mutant Ape Yacht Club NFTs"), the performance of Sewer Pass was remarkable. 

Yuga Lab’s [Sewer Pass is a unique and innovative project](https://www.gate.io/learn/articles/nft-market-evaluation-sewer-pass-analysis/386 "Sewer Pass is a unique and innovative project") that enables players to use their NFTs during the game and earn rewards for that. So far, its statistics have been impressive. For instance, it had a trading volume of $44.6 million involving 10,561 NFTs within a 13-day period that ended on 30 January 2023. The following graph summarizes Sewer Pass’s performance during that time.  

![](https://gimg2.gateimg.com/image/article/167826354810801678263213_.pic.jpg)
Sewer Pass trading performance – DappRadar

As you observe on the above diagram, Sewer Pass recorded high NFT trading volumes between the period 18 and 24 January. 

The performance of Sewer Pass is understandable as it is the key requirement for playing the popular Dookey <a href="/price/dash-dash" target="_blank" class="blog_inner_link">Dash</a> game. It has also marked Yuga Lab’s initiative to launch many NFT games. 

##  Increased investment in Metaverse Gaming in Web3
One clear sign of growth of the web 3 playing platforms is the increase in investment that took place within January 2023. A total of $156 billion were invested in 10 gaming platforms during that period, with the biggest investment coming from Courtside Ventures which injected $100 million in gaming, wellness, sports and collectibles development programmes. Metaverse Tech is another gaming firm that invested a sizable amount during the same period. 

Read also: [Web 3.0 - the decentralized Internet of the future explained](https://www.gate.io/blog_detail/405/so-what-is-web-3.0-the-decentralized-internet-of-the-future-explained "Web 3.0 - the decentralized Internet of the future explained")

## Virtual worlds trading volume increased by 114%
Another sign of rising interest in metaverse games is the recent increase in trading volumes for the sector. The launch of several metaverse dApps has resulted in greater adoption of web3 games than before. For example, virtual worlds had $44.6 million in sales in January, about 114% increase from that of December 2022.  

On the contrary, however,  there was a 19% decrease in sales count in January as the following graph indicates. 

![](https://gimg2.gateimg.com/image/article/167826361110811678263231_.pic.jpg)
Virtual world trading volumes and count - DappRadar

As you can see from <a href="/price/the-graph-grt" target="_blank" class="blog_inner_link">The Graph</a>, December 2022 had a higher sales count than January 2023. The performance of [Sandbox, Decentraland](https://www.gate.io/blog_detail/638/decentraland-versus-sandbox-what-s-the-best-metaverse-project "Sandbox, Decentraland") and [Otherside](https://www.gate.io/blog_detail/2159/reasons-otherside-metaverse-best "Otherside") contributed to the growth in trading volume for the stated period.  In January, for instance, <a href="/price/decentraland-mana" target="_blank" class="blog_inner_link">Decentraland</a>’s trading volume increased by 83%, Sandbox by 114% and Otherside by 107%. 

## Growth in Metaverse infrastructure
There was also a remarkable growth in web3 gaming platforms like TreasureDAO, a DeFi- NFT ecosystem that exists on the Arbitrum blockchain. Notable among its products is a marketplace that uses the MAGIC token.  

Read also: [How will the DeFi & NFT perform in 2023?](https://www.gate.io/uk/blog_detail/1935/how-will-the-defi-nft-perform-in-2023?lang=en "How will the DeFi & NFT perform in 2023?")

Significantly, TreasureDAO is a platform for developing and hosting metaverse, gaming and NFT projects.  Its native token, Magic drives and sustains its entire ecosystem, including the metaverse platforms. 

![](https://gimg2.gateimg.com/image/article/167826368510821678263247_.pic.jpg)
TreasureDAO- Coincu

TreasureDAO has many contributors responsible for developing NFT projects in web3 gaming and metaverse economies. Currently, Treasure DAO has 9 web3 games and a community with over 100k members. Since its launch, about 8 months ago, TreasureDAO has had a trading volume of over $285 million. 

Bridgeworld and Legions Genesis are some of the metaverse and gaming platforms that exist on the TreasureDAO. On top of that, it also has a marketplace that supports 10 NFT collections. Significantly, the Legions Genesis NFT collection has been trending, with some of its rarest NFTs fetching over 70 ETH each. 

## Conclusion
To sum up, there was an increase in the on-chain gaming activity, investment and trading volumes in January and February 2023. <a href="/price/decentraland-mana" target="_blank" class="blog_inner_link">Decentraland</a>, Sandbox, Otherside and TreasureDAO were some of the web3 gaming blockchains that performed well in January. Based on the current trajectory, their blockchain gaming industry is likely to attract more interest from investors. 



<div class="blog-details-info">
<div>Author:** Mashell C.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

简体中文

English

Tiếng Việt

Español

Русский язык

Français

ภาษาไทย

日本語

Indonesia

Deutsch

عربي

Português (Portugal]

Português (Brasil]

繁體中文

Українська

2023 has witnessed the growth of the blockchain gaming industry, increased institutional investment as well as trading volumes and sales count. By the end of February the gaming sector remained.

福利中心

小红花-Learn & Explore-博客

小红花-Learn & Explore-快讯

币圈-币圈-未来事件

小红花-Learn & Explore-聊天室

小红花-Learn & Explore-直播

小红花-Learn & Explore-动态

币圈

Gate OTC

芝麻金融-更多-财富管理

机构-APIs

机构-大宗交易服务

机构-经纪商项目

全球做市商计划

机构-托管和资产管理

机构借贷

机构-做市商项目

小红花-Promotions-机构和VIP服务

量化基金

机构-基础架构

机构-交易

机构-金融

结构化产品

机构-主页

衍生品-统一账户

芝麻金融-更多-抵押借币

vip服务

机构

策略跟单

现货跟单

交易-合约跟单

跟单

量化策略-探索

量化策略-进阶

量化策略-基础

交易-机器人广场

创建机器人

探索机器人

杠杆网格

无限网格

期现套利

组合指标策略

智能调仓

现货马丁格尔

合约网格

现货网格

交易机器人

芝麻金融-更多-ETH2.0挖矿

芝麻金融-更多-法币理财

链上赚币

芝麻金融-理财-双币宝

芝麻金融-理财-定期理财(屯币)

芝麻金融-理财-结构性理财

芝麻金融-理财-理财宝

芝麻金融-理财-余币宝

GT挖矿

芝麻金融-更多（理财产品）

芝麻金融-理财（打新）

launchpool

launchpad

赚币-HODLer Airdrop

candy_drop

web3 Airdrop

赚币

模拟交易

衍生品-期权

衍生品-交割合约

衍生品-永续合约

合约入门

合约活动

衍生品

交易-杠杆ETF

交易-杠杆交易

交易-闪兑

交易-现货交易

交易-创新交易

交易-交易工具

交易-交易类型

交易-盘前交易

交易

行情

买币-gateCard

卖币

买币-快捷交易

买币

买币-paywith

法币定投

小红花-推广

新手指南

活动中心

小红花-Learn & Explore-学院

小红花-Exchange-最新公告

小红花-Exchange-帮助中心

gate商店

小红花-Promotions-邀请计划

小红花-promotions-代理商

储备金

合作伙伴

cextg小程序

小红花

web3

Web3 Gaming Sees a Solid Start to 2023