The Gaming NFTs are down severely in Q2 as the broader NFT sector failed to show adequate strength indicating a sustainable recovery.
Monthly returning buyers of Ethereum-based NFTs bounced back to 45,000 in June after seeing less than 35,000 in May, according to blockchain analytics service Nansen’s Q2 NFT report. The firm analyzed six indexes of NFTs denominated in ETH, finding that the gaming index got hit the most, 59.6% down from the beginning of the year.
During a turbulent period, the trading volume for such NFTs was back to blue-chip collections as investors tend to take a cautious approach,“ETH inflows and circulations are concentrated in Blue Chip or large-cap NFTs within the NFT market. Such a phenomenon hints at the risk-off attitude among NFT market participants.”for 2,500 ETH on Tuesday, equivalent to over $2.6 million at the time of sale. In terms of ETH pricing, this NFT ranked as the fourth-largest CryptoPunks NFT sale of all time.
Nevertheless, the report found the sector in strong resilience compared to the on-chain DeFi and NFT activities, which respectively dropped 17% and 24% Q/Q. To put things in perspective –Among all top blockchain games,$600M exploitSplinterlands remained the most-played blockchain, with 283,729 UAW at the end of the quarter, as Alien Worlds ranked second, whose UAW only fell by 4% in Q2 compared to the previous three-month period.
Additionally, games based on blockchains other than Ethereum experienced rapid growth despite unfavorable market conditions. Sunflower Lands on Polygon had its UAW increased by 10,000% to over 11,000 users, and Gameta on Solana ended the quarter with more than 30,000 UAW, DappRadar noted.
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