The capitalization of the GameFi segment exceeded $31 billion

Recall that in November 2023, CoinGecko experts estimated that since the advent of the GameFi segment, about 75% of projects in this area have failed.

The capitalization of the GameFi segment exceeded $31 billion

Over the past week, GameFi tokens have shown significant growth. At the time of writing, the segment's market capitalization is $31.5 billion, according to CoinGecko.

The popularity of Web3 games is even more noticeable on 30-day indicators:

  • Gala grew by 184.5%;
  • Axie Infinity at 64.8%;
  • The Sandbox by 59.5%.

According to Nansen analyst Edward Wilson, such high indicators indicate the willingness of a significant part of investors to take increased risk.

"As the market starts to heat up, investors are looking for higher returns beyond the major cryptocurrencies such as bitcoin and ether," he said in a comment to The Block.

As an example of the growing Web3 player base, Wilson mentioned the Parallel card game using the Prime token.

"Parallel is highly respected in the industry due to its partnerships with some of the best teams in the crypto market, such as Coinbase and OpenSea, and is successfully operating on the bear market," the analyst added.

The growth in trading volumes of GameFi tokens was also noted by representatives of the Bitget exchange. From March 9th to 10th, this indicator on the platform increased by 126%. The number of traders increased by 48% in a week.


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