作者：Stella L ( [email protected] )
数据来源：Footprint Analytics 游戏研究页面
随着更广泛的加密货币市场表现强劲，游戏行业面临明显压力，其市值下跌 19.3% 至 223 亿美元。本月的特点是平台整合，TON 获得了 Telegram 区块链基础设施的独家权利，LINE 通过 Kaia 推出了其迷你 Dapps 生态系统。
每月市场回顾
Starting at $94,577, Bitcoin closed the month at $102,180, posting an 8.0% gain. Meanwhile, Ethereum showed relative weakness, declining 1.8% from $3,353 to $3,292, leading to its lowest ETH/BTC ratio since September 2024.
Major policy developments significantly influenced the crypto market’s trajectory. The Trump administration’s executive order on cryptocurrency regulation provided unprecedented clarity for the industry, particularly emphasizing the protection of self-custody rights and support for stablecoin development. However, market sentiment was tempered in the final week as new international trade tariffs raised concerns about global economic growth.
The memecoin sector experienced extraordinary volatility following the launch of $TRUMP and $MELANIA tokens on Solana. This surge in speculative activity notably diverted attention and capital from other crypto sectors, including blockchain gaming.
Technological developments also shaped market dynamics, particularly following DeepSeek’s breakthrough in artificial intelligence. This advancement accelerated interest in decentralized AI infrastructure within the crypto ecosystem, with AI-related tokens seeing an increase during the month.
Web3 Game Market
January 2025 saw the Web3 gaming sector face headwinds despite broader crypto market strength. The market cap of blockchain game tokens fell 19.3% from $27.6 billion to $22.3 billion.
On-chain activity metrics reflected similar weakness, with monthly transactions declining 7.2% to $549.2 million and trading volume dropping 12.4% to $234.8 million.
TON Foundation’s January 21 announcement of exclusive blockchain infrastructure rights for Telegram marks a pivotal shift in the ecosystem. This exclusivity agreement, requiring all Telegram-based applications to migrate to TON within 30 days, has created immediate pressure on projects built on alternative chains. The migration deadline of February 21, while offering incentives for early adopters, poses substantial technical and community challenges for affected games.
LINE’s strategic counter-move, launching Mini Dapps and Dapp Portal through LINE NEXT, represents an emerging competitive dynamic in social platform gaming. The initial rollout of 32 Mini Dapps through the Kaia Wave program signals a more controlled, ecosystem-focused approach compared to Telegram’s open development environment.
These platform-level changes, combined with declining market metrics, indicate the Web3 gaming sector is entering a period of consolidation where platform alignment and user experience may take precedence over token economics. The approaches of Telegram and LINE could significantly influence how blockchain games approach user acquisition and retention strategies through 2025.
Web3 Game Chains
January 2025 saw continued evolution in the blockchain gaming landscape, with active games reaching 1,697, a modest 1.4% increase from December. The traditional market leaders maintained their positions in game distribution: BNB Chain (24.2%), Polygon (15.6%), and Ethereum (13.1%). However, this stability in game distribution contrasts sharply with significant shifts in on-chain activity.
Transaction activity showed notable concentration, with three chains dominating the landscape. Wax led with 178.1 million transactions, representing 32.4% of all gaming activity. opBNB followed with 87.2 million transactions (15.9% share), while Aptos recorded 37.5 million transactions (6.8% share). Together, these three chains accounted for over 55% of all gaming transactions in January.
Trading volume revealed a different competitive landscape, with Aptos emerging as the leader at $51.9 million (22.1% share), followed closely by Ronin at $49.5 million (21.1% share). ImmutableX secured the third position with $19.0 million in volume (8.1% share).
The competition for developer mindshare intensified in January, with chains launching aggressive incentive programs. Sonic SVM and Galaxy Interactive’s multi-million dollar fund targets the intersection of Web3 gaming and AI, reflecting growing interest in AI-enhanced gaming experiences. Meanwhile, Ronin Network’s $10 million grant program represents a strategic pivot beyond gaming-exclusive focus, expanding into consumer applications and DeFi protocols to create a more comprehensive ecosystem.
Investment and Funding
January 2025 saw Web3 gaming investment activity continue its downward trend, with $31.2 million raised across 6 funding events. The reduced funding activity reflects broader market dynamics. This surge in speculative activity notably diverted attention and capital from other crypto sectors, including blockchain gaming.
Pixion Games led the month’s funding activity, securing $4 million in a strategic round led by Delphi Ventures, with participation from Spartan Capital, Sky Mavis, and Animoca Brands. The studio’s flagship title, Fableborne, represents an evolution in mobile Web3 gaming by combining ARPG mechanics with strategic base-building elements. The game’s success on Ronin has attracted particular attention. Other notable game funding events included Drift Zone, BeraTone and Nakamoto Games.
Infrastructure development remained a key focus for investors, with two significant raises: ZKcandy secured $4 million for its gaming-focused Layer 2 chain powered by ZKsync, following successful completion of its open testnet phase. Hyve Labs raised $2.75 million to develop its core infrastructure, such as launching its testnet chain, first game and other on-chain assets.
本报告的数据来自 Footprint 的游戏研究页面，这是一个实时仪表板，包含全面且值得信赖的 Web3 游戏统计数据。如果您发现任何链或游戏未包含在内并希望将其集成，请联系我们。您也可以在此处提交合同。
关于Footprint Analytics
Footprint Analytics 是一个全面的区块链数据分析平台，可简化 Web3 生态系统中企业和项目的复杂分析。它提供量身定制的解决方案，无需大量专业知识和基础设施维护。该平台提供长期增长工具，旨在帮助逐步建立和管理社区，强调可持续增长和用户忠诚度。通过将强大的分析功能与社区管理工具相结合，Footprint Analytics 使项目能够有效地利用区块链数据来制定 GameFi、NFT 和 DeFi 等各个领域的决策和增长战略。
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