Blockchain gaming consumer exercise dipped and funding slowed in April, however the overall ecosystem is more healthy and maturing, in line with blockchain analytics platform DappRadar.
User exercise dropped 10% over April, with blockchain gaming reaching a 2025 low of 4.8 million daily Unique Active Wallets, DappRadar analyst Sara Gherghelas said in the platform’s April Games Report.
Gaming dominance over the decentralized app business additionally fell and is now tied with decentralized finance at 21%.
Gherghelas stated it’s clear consumer consideration is shifting away from gaming, however below the floor, new infrastructure went reside, main publishers doubled down, and high-quality video games edged nearer to launch.
“The blockchain gaming business isn’t useless — it’s evolving. It’s transferring from noise to sign,” she stated.
“Teams are constructing, and capital continues to circulate into the house. What we is likely to be seeing is a more healthy ecosystem — one pushed much less by speculative play-to-earn mechanics and extra by customers who’ve a real interest in gameplay, asset possession and neighborhood.”
April’s blockchain gaming funding exercise additionally dropped 69% from March, reaching $21 million.
Weaker tasks die off, funds shift to builders
Gherghelas stated a part of the drop is as a result of investor and consumer interest is more and more shifting towards real-world assets and artificial intelligence.
Another issue is the macroeconomic panorama, with ongoing market uncertainty weighing on investor sentiment, making capital more durable to safe for startups.
Gherghelas stated weaker tasks “are falling away,” and funds are flowing into different tasks that “are quietly laying the groundwork for the following era of blockchain video games.”
“Investors are actually optimizing for sustainable fashions, participant engagement, and precise retention, not simply token hype,” she added. “This reveals that the market’s clearly in reset mode.”
Gherghelas famous that “66% of all blockchain sport funding in 2025 up to now has gone to infrastructure,” signaling a extra mature market.
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Mainstream gaming firms are additionally nonetheless experimenting with blockchain-powered video games, with Gherghelas pointing to Ubisoft’s partnership with Immutable, and Sega including non-fungible tokens and play-to-earn mechanics to its sport, KAI: Battle of Three Kingdoms, as prime examples.
“April 2025 wasn’t a record-breaking month for blockchain gaming, and that’s okay. What we’re seeing is an area recalibrating,” she stated.
“Speculative hype is cooling down, however the builders haven’t stopped,” she added. ”Games are launching. Ecosystems are increasing. Infrastructure is maturing.”
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