November Gaming Insights

DEC 12, 2022 • 12 Min Read

Joseph Lloyd

The authors have not purchased or sold any token for which the authors had material non-public information while researching or drafting this report. These statements are made consistent with Delphi’s commitment to transparency and should not be misconstrued as a recommendation to purchase or sell any token, or to use any protocol. The content of this report reflects the opinions of its authors and is presented for informational purposes only. This is not and should not be construed to be investment advice.

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State of the Market

The total market cap for all gaming-related tokens hit roughly $7.4B at the end of November, representing a 17% increase from September, according to CoinGecko. However, as we will illustrate in this report, this is not a sign that the market is recovering. It is more so due to the fact that several new tokens have been added to CoinGecko’s gaming-tokens list.

In fact, in light of the recent FTX crash, gaming tokens are down across the board. Despite this, over the past month, blockchain-gaming dApps saw 92% more transactions than marketplaces and roughly 50% more unique active-wallet interactions compared to DeFi. Similar to the past three months, these figures have hovered around 21.5M and 800k, respectively.

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