According to the analytical platform DappRadar, in April, user activity in the blockchain gaming sector decreased, as did funding volumes. Nevertheless, the overall Web3 ecosystem appears more resilient and continues to develop.
The number of unique active wallets interacting with gaming projects has dropped by 10%, down to 4.8 million per day. This is the lowest value since the beginning of 2025.
The share of gaming among all dApps has also decreased. It is now on par with DeFi, with both categories accounting for 21% of total activity.
Gergelash notes that audience interest in games has declined, but that is no reason to talk about stagnation. While the numbers are falling, active work continues behind the scenes: new tools are being created, major studios are expanding their involvement, and several notable gaming projects are already close to launch.
"Blockchain gaming is not dead; it is transforming. Everything is just beginning," she stated.
Investments in gaming projects have also fallen. In April, the amount of investment dropped by 70%, totaling just $21 million.
Weak projects are falling away, and money is flowing to innovators.
Sara Gergelash believes that interest in crypto games is declining for a reason. More and more attention is shifting towards tokens tied to real assets and rapidly developing AI projects — these are what currently draw the focus.
Another factor is the unstable macroeconomic situation. Against the backdrop of market uncertainty, investors are finding it increasingly difficult to commit to investments, especially in early-stage startups.
Gergelash notes that less resilient projects are gradually dropping out of the race. Funds are being redirected to teams that are quietly laying the foundation for the next generation of blockchain games.
Infrastructure is becoming the main focus
Since the beginning of 2025, two-thirds of investments in blockchain gaming have been directed not into the games themselves, but into infrastructure. This shift, according to analysts, indicates that the market is maturing and moving from hype to systematic work.
Investors are now looking towards projects where tokens are not important, but rather stable mechanics, a loyal audience, and engagement. Instead of betting on noise, they are searching for products that can hold players' interest over the long term.
At the same time, major publishers have not left the Web3 radar. Ubisoft continues its collaboration with Immutable, while Sega has integrated NFTs and play-to-earn into its project KAI: Battle of Three Kingdoms.
"April cannot be called a breakthrough for blockchain games, but that is normal. The industry is going through a stage of rethinking and adaptation," Gergelash said.
