Week in GameFi: Sui Holds Gaming Summit, African Market 6x in 2024
The Web3 gaming sector and the overall crypto market are looking much more positive this week.
- Web3 gaming and crypto markets are looking bullish
- Axie Infinity Origins S12 Mystic Era is now live
- The Sandbox x Jurassic World collab announced
- Africa’s gaming market hit $1.8B
- Treeverse is now live on mobile & Epic Games Store
Here’s an overview of what happened at Sui’s gaming conference by some attendees:
Market Overview
We had a well-deserved bounce and are now only about 13% away from the previous yearly low.
Top Gainers:
Top Decliners:
- KGen’s UAW surges 18.95% while they reveal more details about rKGEN, a fairdrop solution for the KGeN community.
- STAN rises 6.81% and is one of the top 15 GameFi projects by 30D active users.
- Pixudi gains 4.54% and they will be rolling out major updates this Saturday.
- Sweat Economy is up 1.68% and they have been building a new kind of value, one powered by movement since 2014.
Jurassic World in The Sandbox
Axie Infinity Origins S12 Mystic Era
Origins is a card-based strategy game where players battle with Axies in Adventure mode or the Arena. Newcomers can start with free non-NFT Axies, allowing them to experience the game without an upfront investment.
This era features 20,000 AXS in rewards, with top performers gaining a competitive edge for the Final Era. Collectible Chest rewards return, granting additional AXS to players who maintain their collectible Axies while competing.
Africa’s Gaming Market
The industry’s growth has been driven by increased smartphone adoption, improved internet access, and innovative payment solutions. Leading markets include Egypt ($368 million in revenue), Nigeria ($300 million), and South Africa ($278 million).
Africa’s gaming sector grew by 12.4% in 2024, significantly outpacing the global industry’s 2.1% growth rate. The continent’s gaming market is projected to reach $3.72 billion by 2029.
Notcoin Studio Expands
- Focus on quality over hype: look out for games that people play for fun rather than just for earning.
- Check for real utility and in-game integration: projects where tokens and NFTs have multiple use cases within the game such as staking, upgrades, and crafting, tend to be more sustainable.
- Evaluate team experience and transparency: teams with a proven track record in gaming or blockchain are more likely to deliver.
- Assess community activity and growth: high player retention and active communities (Discord, Twitter, Reddit) show that a game can attract and keep players.
- Keep an eye on Sui gaming projects that attended their summit.
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