

De-fi
November 2022 GameFi Report – Crypto News
Despite one of the worst possible events happening in November—the complete collapse of the world’s largest crypto company—the GameFi market did not fall significantly compared to October.
This may indicate that the market, barring a systemic collapse, has reached a limit of its downside risk.
Nevertheless, decreasing investment in the space continued, with the amount of investment and the number of funds reaching a historic low.
Amid the downturn, Polygon has performed relatively well as a gaming chain, with several large titles gaining users in November.
Overall, November was a relatively uneventful month for GameFi, especially considering what happened in the CEX sector.
Crypto Macro Overview
- At the end of November, the F&G index closed higher than at the end of October.
- The FTX collapse stopped the F&G index recovery, causing it to fall from 40 to 20.
- Hitting $1,091 on Nov. 9th, Ethereum was close to dropping beneath the thousand-dollar mark but did not.

The FTX collapse did not cause the price of ETH to drop below its June lows, despite this event being arguably more significant than the Terra Luna collapse that happened.
Interestingly, BTC did drop below its June lows, which is unexpected because altcoins would previously bear the greater brunt of negative market sentiment and volatility.
One possible explanation is that this seemingly minor price action news is the first evidence of something huge: the toenomic effects of the Merge coming to fruition. For the first time, Ethereum is less volatile than BTC.
GameFi Financing & Investment
- GameFi funding continued to decline and dropped to an ATL of $60 million in November, a decline of 69% MoM.
- There were just 9 rounds in the GameFi industry, led by Roboto Games and Thirdverse.
- Thirdverse is a Tokyo-based development studio focusing on Web3 and VR games. It received a $15 million round led by the MZ Web3 Fund.
- A16z was the lead investor in Roboto Games’ $15 million Series A. The traditional gaming studio hopes to expand into Web3 and blockchain.

Funding for GameFi has dried up to a fraction of what it used to be. Funds were invested in a handful of projects, mostly game developers and studios. Most of those rounds were for established developers with a record of publishing successful projects in Web3 or Web2.
GameFi Market Overview
- The total volume in GameFi dropped from October, declining from $260 million to $100 million.
- Transactions per user also declined sharply at the end of November but are still higher than 6 months ago.
- In October, Axie Infinity’s unlocking event caused an unusually high amount of traffic on Ronin. In November, the breakdown between chains went back to a more regular distribution.

The total volume of GameFi more than halved. A large part of this was unusually high volume in October driven by the Axie Infinity unlocking event—with the market now coming back to its normal state.

GameFi User Overview
- MAU declined from 2.2 million percent in October to 2 million, while new users declined by just over a hundred thousand.
- Polygon saw the highest amount of new users thanks to several titles rising in popularity, namely Benji Bananas and Planet IX.

Polygon has established itself as a potential winner in the GameFi space if it can continue attracting solid projects. Some notable Polygon-based titles that have grown quickly in the past few months are Benji Bananas, Arc8 by GAMEE, and Planet IX.

GameFi Projects Overview
- The sharp increase in volume on Polygon was driven by Benji Bananas gaining users and volume. The number of users grew to over 80K.
- Planet IX, a space-themed strategy game, more than tripled its users in November. Note that the price of the game’s token, IXT, did not increase.

Benji Bananas had significant growth in users in November, which was reflected in its token price. On the other hand, Planet IX also saw a surge in players, but its token, IXT, continued to decline, indicating a less sustainable project.
-
others1 week ago
David Schwartz To Step Down as Ripple CTO, Delivers Heartfelt Message to XRP Community – Crypto News
-
Technology1 week ago
Engineers are chasing ₹30 lakh offers—but not from startups – Crypto News
-
Technology1 week ago
Einride Raises $100 Million for Road Freight Technology Solutions – Crypto News
-
others1 week ago
Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45 – Crypto News
-
Technology1 week ago
Fed’s Goolsbee Cites Inflation Worries in Case Against Further Rate Cuts – Crypto News
-
others1 week ago
Ireland AIB Manufacturing PMI increased to 51.8 in September from previous 51.6 – Crypto News
-
Blockchain2 days ago
It’s About Trust as NYSE Owner, Polymarket Bet on Tokenization – Crypto News
-
Blockchain1 week ago
Citi Integrates Token Services Platform With Clearing Solution – Crypto News
-
Technology1 week ago
Bloomberg Analyst Says XRP ETF Approval Odds Now 100% as Expert Eyes $33 Rally – Crypto News
-
Technology1 week ago
Breaking: BNB Chain Account Hacked With Founder CZ Shown Promoting Meme Coin – Crypto News
-
Cryptocurrency1 week ago
Bitcoin’s rare September gains defy history: Data predicts a 50% Q4 rally to 170,000 dollars – Crypto News
-
Technology1 week ago
Which ChatGPT features are restricted under parental controls introduced by OpenAI? – Crypto News
-
Technology1 week ago
US SEC weighs tokenised stock trading on crypto exchanges – Crypto News
-
Blockchain1 week ago
Watch These Key Bitcoin Metrics as BTC Price Prepares for ‘Big Move’ – Crypto News
-
Cryptocurrency1 week ago
XPL, Not XRP: Why Are Whales Shoveling Ripple’s Rival? – Crypto News
-
Technology1 week ago
CAKE eyes 60% rally as PancakeSwap hits $772B trading all-time high – Crypto News
-
Technology1 week ago
Nasdaq-listed Helius Medical Technologies rebrands as Solana Company – Crypto News
-
Cryptocurrency1 week ago
Crypto Market Prediction: Shiba Inu (SHIB) Moon Landing, Dogecoin (DOGE) Trapped in $0.23, XRP: Most Important Event for $3 – Crypto News
-
Blockchain1 week ago
The Bullish Pattern That Suggests New Highs – Crypto News
-
others1 week ago
Japan Industrial Production (YoY) declined to -1.3% in August from previous -0.4% – Crypto News
-
Blockchain1 week ago
Trump Pulls Brian Quintenz Nomination for CFTC – Crypto News
-
Technology1 week ago
Breaking: BNB Chain Account Hacked With Founder CZ Shown Promoting Meme Coin – Crypto News
-
Technology1 week ago
FTT price on the edge as FTX creditors brace for $1.6B payout on Sept. 30 – Crypto News
-
Cryptocurrency1 week ago
BREAKING: BlackRock Amends Bitcoin ETF (IBIT), Ethereum ETF (ETHA) Amid New Milestone – Crypto News
-
Technology1 week ago
iQOO 15 key specifications leaked ahead of launch: Here’s what to expect – Crypto News
-
others1 week ago
Japan Tankan Large All Industry Capex climbed from previous 11.5% to 12.5% in 3Q – Crypto News
-
De-fi1 week ago
Crypto Market Slips as U.S. Government Shutdown Looms – Crypto News
-
De-fi1 week ago
Andre Cronje’s Flying Tulip Raises $200 Million Ahead of ICO – Crypto News
-
others1 week ago
EUR/GBP supported by dovish BoE tone and persistent UK fiscal headwinds – Crypto News
-
Business1 week ago
Legal Expert Breaks Down XRP’s Appeal as Ripple SWIFT Debate Heats Up – Crypto News
-
Technology1 week ago
SEC Chair Paul Atkins Says Crypto Is Top Priority At SEC CFTC Roundtable – Crypto News
-
Cryptocurrency1 week ago
Horizen (ZEN) gains 12% to break above $7 – Crypto News
-
Technology1 week ago
Altcoins today: Perpetual tokens shed over $1.3B as ASTER, AVNT, and APEX tumble – Crypto News
-
De-fi1 week ago
Hyperliquid’s Hypurr NFTs Settle at $55,000 Floor Amid Ecosystem Expansion – Crypto News
-
Business1 week ago
Crypto Stakeholders Push Back as Banks Seek Yield Ban Provision in CLARITY Act – Crypto News
-
Technology1 week ago
Google Nano Banana trend: 50 AI prompts to transform men’s selfies into retro-golden Durga Puja portraits – Crypto News
-
Metaverse1 week ago
Who is Alexandr Wang? Meta AI chief and 28-year-old billionaire urges teens to spend ‘all their time’ on this activity – Crypto News
-
Technology1 week ago
Chainlink and Swift allow banks to access blockchain through existing systems – Crypto News
-
others1 week ago
Japan Foreign Investment in Japan Stocks rose from previous ¥-1747.5B to ¥-963.3B in September 26 – Crypto News
-
Cryptocurrency1 week ago
Bitcoin Climbs Above $112K, But $125K Resistance Looms Large – Crypto News
-
Cryptocurrency1 week ago
Ethereum whales return to the market: Is ETH ready for $10K? – Crypto News
-
De-fi1 week ago
Crypto Market Edges Up as Investors Weigh Fed Moves and Government Shutdown Risks – Crypto News
-
others1 week ago
New Zealand ANZ Business Confidence fell from previous 49.7 to 49.6 in September – Crypto News
-
Blockchain1 week ago
DX Terminal Tops NFT Sales Count in September as Base Dominates Top 10 – Crypto News
-
Blockchain1 week ago
DX Terminal Tops NFT Sales Count in September as Base Dominates Top 10 – Crypto News
-
Blockchain1 week ago
Ethereum Founder Dumps Billions In These Meme Coins, Is This A Repeat Of Shiba Inu In 2021? – Crypto News
-
Technology1 week ago
Breaking: SEC Moves To Allow On-Chain Stock Trading Alongside Crypto Amid Tokenization Push – Crypto News
-
Business1 week ago
SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism – Crypto News
-
De-fi1 week ago
Bitcoin Split Over Proposed Upgrade That Could Censor Transactions – Crypto News
-
others1 week ago
Japan Tankan Non – Manufacturing Outlook registered at 28, below expectations (29) in 3Q – Crypto News