Game Companies’ Concerns Rising
The popularity of blockchain games is dwindling as most of them are simple and cryptocurrency prices are falling rapidly.
According to cryptocurrency market watchers, blockchain game-related transactions have continued to fall since November last year. Specifically, the daily average fell from US$160 million to US$104 million in December and to US$89 million and US$66 million in the following months.
Users are losing interest as most blockchain games are focusing on item exchange rather than fun. The monthly active user count fell from more than 1.2 million to around 1.1 million from November to this month. Cryptocurrency market fluctuations are another reason for the dwindling popularity. For example, the ETH price plummeted from US$4,750 to US$2,580 from Dec. 1 to Feb. 22.
South Korean game companies’ concerns are rising under the circumstances. WeMade is preparing to launch 100 blockchain games this year and Netmarble recently acquired app wallet service provider Bono Technologies. Com2uS is also working on a blockchain game platform with Hive. They are targeting overseas markets with blockchain games still illegal domestically, but the global popularity of such games is falling fast.
“The blockchain game market is still in the process of forming and it is still too early to make any evaluation on it,” said an industry source, adding, “Given that games currently available in the market are not fully refined, things may change if well-trimmed games are released one after another.”