The hype of blockchain gaming has been observed cooling in April 2025, with the ecosystem getting a healthier response and maturity at the same time, says the report by DappRadar.
In its recent analysis, firm DappRadar said, user activities in April in blockchain gaming fell by 10%, with testing lowest in 2025. In the same frame, its dominance over the decentralized category has fallen, now dominating 21% with DeFi.
Sara Gherghelas said though the attention of users have been shifting from gaming, several big gaming players have been working behind the curtains and there are few good games in the pipeline to be launched soon.
She quoted, “ The blockchain gaming industry isn’t dead — it’s evolving. It’s moving from noise to signal.”
What is happening with blockchain games?
Blockchain games haven’t gained attention as expected, and over the past few months, the sector has lost its dominance. In 2022, the market cap was $4.5B and recorded nearly $7.8 billion in 2024 and is expected to reach $40B by 2027.
32% of conventional gamers are aware of blockchain games but do not play, 16% actively participate, and 52% are not. In 2025, 70% of new blockchain games will switch from P2E’s image as a grind-heavy game to “play-and-earn” or “free-to-own” models.
The report says, “Teams are building, and capital continues to flow into the space. What we might be seeing is a healthy ecosystem — one driven less by speculative play-to-earn mechanics and more by users who have a genuine interest in gameplay, asset to ownership, and community.”
According to data from Rootdata, in the year to date time frame 35 gaming projects raised funding, 16 companies raised funding in strategic rounds, 10 firms gathered in Series A round.
In the past 60 days, the crypto market raised $7.23 billion which is up by 129.36% however the number of rounds fell to 230 from 343 rounds.
January saw 85 rounds, followed by 104, March had 78 rounds, April had 65 and till date May had 27 rounds.
Crypto market price updates
Until publishing, the crypto market cap was $3.36 trillion, a slight correction of 0.52%, and the crypto fear and greed index was at 69, indicating greed in the market.
Bitcoin has been trading at $103,321 with an addition of 1.32% and Ethereum is now at $2,561 and Pin remains in the spotlight as it has been falling continuously.
According to data from CoinMarketCap, the intraday gainers list has been ruled by Story followed by EOS, Hyperliquid, Aave, Kapsa, SUI, Curve DAO token and Walrus.
