GameFi and Metaverse least affected by Terra debacle: Report
Blockchain games and NFT-related Metaverse projects “managed to sidestep the ensuing bear market” by posting transaction count increases of 9.5% and 27% respectively in Q2. Blockchain gaming and the Metaverse have managed to “sidestep” the “Lehman brothers-like” collapse of Terra in May — though decentralized finance (DeFi) and nonfungible tokens (NFTs) haven’t been so lucky, a report says. In a July 29 report from decentralized application data aggregator DappRadar, the collapse of Terra in May was similar in scale to the 2008 subprime mortgage crisis — causing decentralized finance....
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The report seems to show that turbulence in the crypto markets has failed to rattle investments and forward movement of several GameFi and metaverse projects. Blockchain games were the subject of the latest DappRadar x BGA Games Report #5, published on Tuesday. The report looked at healthy ecosystems and investments coming into the GameFi and metaverse markets.Several projects were covered in detail in the report, which outlined their continued success and growth. Splinterlands, Illuvium, Galaverse and STEPN have continued to bring new players to their platforms, gain financial interest....
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