Game Over: Ethereum GameFi Activity Collapses By 96%

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GameFi has been a particularly interesting landscape over the past year, and while the cryptocurrency market at large has been middling – in the midst of heated debates around whether we’re in a full fledged bear market (and if so, how long it will persist) – many other subsets within the crypto market have taken hits. NFTs, DeFi, and GameFi have been no exception.

While ‘blue chip’ NFTs have persisted, middle to small projects have taken a beating, and while DeFi is far from the grave, the impacts of the Terra Luna destruction will likely have lasting ripple effects within DeFi. That leaves us with GameFi, which has seen a strong decline in active users, according to new reports, and carries longevity concerns amidst an often critical audience.

Let’s …