Blockchain gaming unfazed by crypto volatility as gamers ‘seek out entertainment’ – TechCrunch

The web3 gaming business is without doubt one of the few sectors seemingly unaffected by present crypto market situations, with capital persevering with to pool into the area – and a few business gamers say it’s for good cause.
“The present market surroundings is humorous,” Robby Yung, CEO of Animoca Brands, mentioned to TechCrunch. “People tend to couple crypto markets with blockchain video games and content material, however truly it’s solely as applicable as linking tech shares on Nasdaq with the companies of tech firms. There’s a sure correlation, nevertheless it’s tenuous.”
While the crypto business was in freefall over the previous few months, web3 video games remained pretty secure. In May, over 1.15 million each day distinctive energetic wallets interacted with blockchain video games, down simply 5% from the earlier month, in line with a DappRadar x BGA Games report.
The variety of energetic customers “has nothing to do with the market,” Yung mentioned. “You can argue it’s countercyclical as a result of as we see in leisure merchandise, there tends to be extra consumption when the financial system will not be so good as a result of individuals will search out leisure,” he added.
While the way forward for the business was in query amid the bear market of 2018, there was great validation and progress since then, Yung mentioned. “The remainder of the yr will certainly be difficult, however I’m optimistic for the primary quarter of subsequent yr.”

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