February GameFi Performance Overview

After a difficult year, January was a very positive month for the crypto market. While some of the trends seen in other bullish cycles still applied, there were some notable differences that made this month particularly interesting. Altcoins, which usually trail behind Bitcoin in terms of performance, saw an exceptional increase in their prices, including those in the GameFi space. This shows that the market is prepared to jump back into highly speculative crypto assets as soon as any sign of positive macro news appears, despite the losses of the past year.
Investment in GameFi has been decreasing, so it remains to be seen if the positive sentiment will last long enough to bring back VC interest in blockchain gaming projects. AAA blockchain games have finally begun to hit the market, leading the way with the Beta of Illuvium, which has already been met with much enthusiasm.
Overall, the price of ETH increased from the low-$1,200s at the end of December to a high of $1,660, its best performance in a year. Many prominent altcoins doubled or even tripled in value, while the percentage of new users in GameFi decreased to 36%. Active GameFi users increased slightly, however, the number of new GameFi users was the lowest it has been since August 2021. Funding for GameFi projects dropped to record monthly lows of $20.9M, with only three projects receiving funding in January.
Source: https://cryptoslate.com/january-monthly-gamefi-report/