DappRadar finds no impact of the Terra crash on metaverses and GameFi

GameFi and metaverses in the second quarter showed the strongest momentum in a bear market. The number of transactions associated with them rose 9.5% and 27% respectively, according to a reportDappRadar.

For comparison, this metric applied to DeFi and NFT showed a decline of 14.8% and 12.2%.

A similar pattern emerged for the metric of average network activity per unique active wallet. In blockchain games it declined by 7%, and for NFT — by 24%.

Trading volume of metaverse project tokens jumped 97%, while the NFT sector overall fell by 32.7%.

“Such activity indicates that interaction with virtual worlds does not depend on their profitability for the end user,” the experts noted.

DappRadar noted the resilience of investments in blockchain games and metaverses from institutional investors, who see strong growth potential in them.

Funding volume did not change ($2.5 billion), despite the collapse of the Terra ecosystem. Experts compared it to the consequences of the Lehman Brothers collapse for traditional financial markets.

According to PitchBook, from April to June venture investments in crypto startups fell by 31%.

Earlier, Andreessen Horowitz launched a $600 million fund for investments in games and metaverses.

Previously, led by former general partner a16z, Haun Ventures raised $1.5 billion in two crypto funds with a similar focus.

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