Metaverse tokens enjoyed a 400% year-on-year growth in price according to a new report by Kraken Intelligence. Investors may also be capitalizing on the fact games make up more than half of all blockchain activity.
The Kraken report pointed out that although May saw flat daily usership, “NFT volume saw a large decrease with daily volume dropping -87.1%.”
Every category tracked by Kraken’s report, including Metaverse and exchange tokens, experienced negative returns over the past 30 days and 90 days. Metaverse tokens were among the worst losers over the past 30 days, dropping 42%, with by far the highest volatility at 173%.report noted that $2.5 billion was raised in support of blockchain games and Metaverse projects in the first quarter of 2022. Investors were eager to back games according to the report because 52% of all blockchain activity came from game DApps:
“At this pace, play-to-earn and Metaverse-related projects will add $10 billion this year to keep building the future of this industry.”
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