Analysis: This year, the rise of Telegram ecosystem games has driven the number of accounts on the TON network to increase from about 4 million to 128 million
Blockchain gaming did not enter the mainstream on a large scale in 2024, but it made significant progress in terms of gameplay and user acquisition.
Joonmo Kwon, a senior game executive and CEO of Delabs Games, said: "Since the rise and subsequent decline of 'Axie Infinity', the Web3 gaming world has made significant progress. Although Axie's early success demonstrated the potential of blockchain-based economies, its decline also revealed difficulties in sustainable token economics and user retention."
The biggest advancement in Web3 games is the emergence of Telegram ecosystem games used by nearly one billion people. Games based on Telegram use TON blockchain. According to TonStat data, within a year, the number of accounts on the TON network increased from about 4 million to 128 million.
According to Kwon, by mid-year, GameFi market valuation had reached approximately $17 billion USD mainly due to the rise of Telegram's gaming ecosystem.
However, despite an increase in adoption rate for Web3 games in 2024 as shown by The Block's GMCI Gaming Index which includes major game tokens such as BEAM,GALA,and IMX (but does not include TON), there was about a 7% drop this year up until December 18th. Notably though,Ton rose over100% this year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Analysis: Wall Street Is Not Yet Ready to Short AI in Large Numbers
Overseas capital is aggressively buying US stocks! Net inflows reached $942 billions over the past 12 months, marking a record since 1985.
According to data from the US Department of the Treasury, in the 12 months ending July this year, overseas investors made net purchases of US stocks totaling $942 billion, marking the highest rolling 12-month total since records began in 1985. The net purchases in the second quarter alone reached $426 billion, setting a new single-quarter record. Meanwhile, overseas demand for US Treasuries has noticeably cooled, with purchase volumes falling significantly. As a result, the US is facing higher costs in government debt financing.
RootData: BIO will unlock tokens worth about $1 million in one week
Crypto prices
More
