Blockchain Game Market January 2025 Report: Industry Faces Challenges, Platform Competition Intensifies

In January 2025, despite the strong performance of the overall cryptocurrency market, the blockchain gaming sector showed a downward trend. The market value of gaming tokens decreased by 19.3% to $22.3 billion, and on-chain activity indicators also showed weakness. This month's market focus is mainly on new trends in the social platform sector.

Macroeconomic Market Overview

The price of Bitcoin rose by 8.0% from $94,577 to $102,180. In contrast, Ethereum performed poorly, falling by 1.8% from $3,353 to $3,292, with the ETH/BTC ratio hitting a nearly six-month low.

On the policy front, the executive order on cryptocurrency regulation issued by the U.S. government provides clear guidance for the industry, particularly emphasizing the protection of self-custody rights and supporting the development of stablecoins. However, statements at the end of the month regarding international trade tariffs have raised concerns about global economic growth, affecting market sentiment.

The token launched by the Trump family on Solana has triggered intense fluctuations in the Memecoin sector, diverting market attention and funds from other areas of cryptocurrency. At the same time, breakthroughs in the field of artificial intelligence have accelerated the focus on decentralized AI infrastructure within the cryptocurrency ecosystem, leading to a rise in the prices of related tokens.

Blockchain Game Market Analysis

In January, the Web3 gaming sector faced challenges. The market value of blockchain gaming tokens dropped from $27.6 billion to $22.3 billion, a decrease of 19.3%. On-chain activity also showed a declining trend, with monthly transaction counts falling by 7.2% to 550 million transactions, and trading volume decreasing by 12.4% to $230 million.

A well-known social platform's Blockchain infrastructure has received exclusive authorization, requiring all applications based on the platform to complete their Blockchain migration within 30 days, which has brought technical and community challenges to some game projects. Meanwhile, another social platform has launched Mini Dapps and a Dapp Portal, showcasing the competitive landscape of social platforms in the gaming sector.

These changes at the platform level, combined with the decline in market indicators, suggest that the Web3 gaming sector is entering a consolidation phase. Platform integration and user experience may become prioritized factors, surpassing the importance of token economics.

Public Chain Game Ecosystem Analysis

In January 2025, the number of active Blockchain games reached 1,697, a slight increase of 1.4% compared to the previous month. BNB chain ( 24.2% ), Polygon ( 15.6% ), and Ethereum ( 13.1% ) maintained their leading positions in game distribution.

The trading activity shows a明显的集中趋势, with three chains dominating: WAX leads with 180 million transactions,占据 32.4% of the份额(, opBNB ranks second with 87.2 million transactions,占据 15.9% of the份额), and Aptos recorded 37.5 million transactions,占据 16.8% of the份额(. These three chains account for over 55% of all game transactions in January.

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In terms of trading volume, Aptos ranks first with a transaction amount of $51.9 million ), holding a 22.1% share (, followed closely by Ronin with a transaction amount of $49.5 million ) and a 21.1% share (. Immutable X ranks third with a transaction amount of $19 million ), holding an 18.1% share (.

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Various public blockchains have launched aggressive developer incentive programs, intensifying competition. Multiple funds are targeting the intersection of Web3 gaming and AI, reflecting the market's focus on AI-enhanced gaming experiences.

Overview of Investment and Financing

In January 2025, Web3 game investment activities continued the downward trend, with 6 financing events raising a total of $31.2 million. This trend reflects broader market dynamics, as the surge in speculative activities has diverted market attention from areas such as Blockchain games.

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Pixion Games raised $4 million in a strategic round of financing led by a well-known investment institution, with its flagship game Fableborne combining ARPG mechanics with strategic base building elements. Other noteworthy game financing events include Drift Zone, BeraTone, and Nakamoto Games.

Infrastructure development remains a key focus for investors. ZKcandy raised $4 million for its game-specific Layer 2 chain based on ZKsync, while Hyve Labs raised $2.75 million for the development of core infrastructure.

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Overall, the blockchain gaming market in January 2025 faces multiple challenges, but the participation of social platforms and the continuous development of infrastructure provide new possibilities for the future development of the industry.