Analysts say Terra collapse didn’t crash Metaverse and GameFi projects
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So, uhh… Stonks?
GameFi and the Metaverse were the best performers in the second quarter, despite the market being in the midst of the bear cycle.
The number of transactions associated with these projects increased by 9.5% and 27%, respectively, according to a report by DappRadar. For comparison, the number of transactions associated with DeFi and NFT showed a decrease of 14.8% and 12.2% respectively.
Meanwhile, Metaverse project token trading volume jumped 97%. At the same time, the NFT sector as a whole fell 32.7%.
Here’s how the analysts themselves put it:
“Despite a financial blow and undermined trust in the industry, investors remain bullish as the number of investments into blockchain games and metaverse projects has remained constant quarter-over-quarter, with $2.5 billion invested in both Q1 and Q2. June recorded the lowest per month investment with only $500 million.”
Moreover, the analysts from DappRadar call NFT projects related to the metaverse “a beacon of hope”.
While talking about reasons for that, DappRadar noted the resilience of investments in blockchain games and metaverse by institutional investors, who see strong growth potential in them. The amount of funding has not changed ($2.5 billion), despite the collapse of the Terra ecosystem.
Source: DappRadar
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