April Chain Game Report: Daily Active Users Drop to Annual Low, Financing Amount Decreases by 69% Month-on-Month

Author: Dappradar

Compiled by: Felix, PANews (This article has been edited)

In April, the development of blockchain games showed mixed results. User activity decreased, investment slowed, and market attention shifted towards AI and real-world assets. However, beneath the surface, real progress is being made: new infrastructure is going live, major publishers are increasing their investments, and high-quality games are nearing release.

This report will explore the current trends shaping the development of blockchain games, the quietly achieved results, the evolving narratives, and what all of this means for the future.

Key Points:

• In April, user activity decreased by 10%, with the number of daily unique active wallets (dUAW) dropping to 4.8 million, the lowest point so far in 2025.
• The dominant position of games in the dapp industry has also declined, now on par with DeFi at 21%, while AI is on the rise with a market share of 16%.
• The dominant position of key games at the blockchain level remains high: Pixudi accounts for 99% of Calypso, Off The Grid has a 100% share on GUNZ, and World of Dypians occupies 76% of Nebula.
• Despite the poor overall market environment, the blockchain gaming sector raised $21 million, a decrease of 69% compared to March.
• Arbitrum Gaming Ventures has allocated the first $10 million from its $200 million fund to support projects such as Wildcard, XAI, and Proof of Play.

1. Overview

It can be said with certainty that blockchain games will continue to evolve. It remains one of the most promising areas for bringing Web3 into the mainstream. However, it is clear that users' attention is shifting from games to real-world assets and AI-driven projects.

The data also confirms this. In April, the daily active unique wallet count (dUAW) for blockchain games was 4.8 million, a 10% decrease from the previous month. The dominance of games in the dapp industry is also declining. Although it used to be the leading category, DeFi has regained focus due to the memecoin wave. Today, AI is rapidly catching up, accounting for 16% of the market share, while games and DeFi each account for 21%.

However, development has not slowed down; the team is still building, and funding continues to flow into this field. It is no longer so reliant on the speculative "play-to-earn" mechanism, but is instead driven more by users interested in gameplay, asset ownership, and community.

Familiar names dominate the top game chain rankings, with opBNB once again at the top. To delve deeper, the activity of game-related DApps on each chain was analyzed, revealing some patterns.

• "World of Dypians" accounts for 52% of activity on opBNB, and as high as 76% on Nebula (SKALE).
• On Ronin, although "Axie Infinity" is the number one game, its active share is only 33%, indicating that Ronin is actively moving away from the single identity of "Axie Chain."
• "Off The Grid" occupies 100% activity on its dedicated GUNZ test network, similarly, "Age of Dino" also occupies 100% activity on Xterio.

These data reveal a deeper issue: some chains are clearly built around flagship games, while chains like Ronin are evolving into ecosystems for multiple games. As competition intensifies, it is worth paying attention to which chains can successfully develop into broader comprehensive gaming hubs and which chains remain limited to a single IP.

2. 4 Game Leader of April

Every month, I pay attention to the top ten games ranked by activity level. The situation in April was not too surprising; only some of the most active projects continued to make progress.

"Off the Grid" —GUNZ mainnet is now live

"Off the Grid" (OTG) is a cyberpunk-style battle royale game launched by Gunzilla Games, which made significant progress in April. Around April 17, the team activated its custom GUNZ blockchain on Avalanche and launched mainnet nodes, establishing the core infrastructure for the in-game economy.

OTG is still in the early testing phase, but the launch of its mainnet indicates that a full release is getting closer. Notably, this is the first Web3 game that can be played on PS5 and Xbox One Series. Gunzilla's ecosystem model includes node rewards and revenue buybacks through the GUN token, and speculation about its possible full release in the coming months is increasing.

Axie Infinity——Season Duration

"Axie Infinity" attracted players to participate in multiple competitions on the Ronin network in April:

• Axie Classic Season 9 (running until the end of May) - Total prize pool 35,000 AXS
• The preliminary round of Season 13 of "Origins" starts on April 22.
• The playoffs of Season 12 have also concluded.

Sky Mavis is shifting its resources towards the upcoming massively multiplayer online role-playing game "Atia's Legacy." As part of this transition, the experimental hub "Project T" has been shut down. Players seem to have a strong interest in this Axie MMO game, with pre-registered users reaching 2.5 million by mid-March.

"Seraph"** — **Season 3 officially launched

The dark fantasy action role-playing game "Seraph" will launch its third season on April 27, introducing new dungeons, equipment, and a free season pass. This update also brings:

• Stall License (Player-operated Store)
• On-chain asset yield system that converts in-game achievements into token rewards

The focus remains on a sustainable P2E mechanism that rewards players for their efforts and time, not just the trading of tokens.

Comprehensive Game Update

Star Atlas has launched two new PvP modes:

• Gunfight Game - A deathmatch mode where you kill to upgrade weapons.
• Area Control - Team-based Map Control Gameplay

The Sandbox continues the features of Alpha Season 5, launching new UGC games (such as SABOTAJ) and brand experiences like "Jurassic World." This season will last until May 12 and offers a prize pool of $1 million, including SAND, NFT, and LAND rewards.

Cambria has postponed the launch of the second season of "The Paymasters," originally scheduled for April 7. This massively multiplayer online role-playing game (MMORPG), inspired by "RuneScape," runs on Blast and Ronin, and its "risk-reward" model requires players to stake assets for high-return dungeon challenges. The developers have promised to notify players 24 hours before the new season begins.

"Gods Unchained" has announced a major backend migration: moving from Immutable X to zkEVM to support smart contracts and achieve greater interoperability. The token bridge is expected to open by the end of May, at which point players will automatically complete the migration.

3. Ecosystem Development and Cooperation

April witnessed a series of developments and collaborations within the ecosystem, reflecting that Web3 gaming has entered a more mature stage. From large publishers testing new models to the openness of blockchain infrastructure, this field continues to evolve in a strategic manner.

Traditional Publishers in Web3

Mainstream gaming companies are still experimenting with blockchain technology—some of which have achieved greater success.

Sega officially launched "KAI: Battle of Three Kingdoms," incorporating NFTs and a "play-to-earn" mechanism into its well-known IP.

At the same time, Square Enix announced that it will shut down the Symbiogenesis project in July 2025 due to poor performance (with NFT trading volume of only about 125 ETH and a floor price nearly zero in April).

Square Enix will still remain in the Web3 space, but this outcome indicates that simply porting NFTs into games is not enough. Sega's partnership-driven strategy stands in stark contrast to Square Enix's solo approach, highlighting a key lesson: a native Web3 experience is crucial.

In April this year, Ubisoft announced a partnership with Immutable. The two sides will work together to launch the collectible card game "Might & Magic franchise," bringing the "Might and Magic" series into the blockchain space. The game is scheduled to go live by the end of this year.

Netmarble x Immutable

Netmarble has announced a major ecosystem update through its Web3 division Marblex. The South Korean giant plans to launch 7 blockchain games on the Immutable platform in 2025, including the game "Tokyo Beast," which combines esports with NFT mechanics.

Immutable's zkEVM will support these games, and both parties seem confident in this collaboration, believing it can bring blockchain gaming to a wider audience. Marblex has also introduced a new mascot "Goby" and the slogan "Fun First", marking its deeper foray into Web3.

Ronin opens to third-party developers

Ronin was once the standalone game chain for Axie Infinity, and it is now officially open to third-party developers. The results in April were significant:

• Initially on Arbitrum, Avarik Saga expands to Ronin to benefit from lower fees and a game-first ecosystem.
• Realms of Alurya has abandoned the Treasure ecosystem and migrated to Ronin.
• Community Gaming launches prediction market dapp on Ronin (FORKAST)

As more games join, Ronin is transforming from a chain limited to Axie into a broader ecosystem. However, this has also caused some trouble, as the developers of "Ragnarok: Monster World" have moved their game to another chain and are suspected of breaching the contract.

Arbitrum and Exclusive Chains

Through its Orbit program, Arbitrum is enabling custom gaming subnets. An example that gained attention in April is Studio Chain, built in collaboration with Karrat and the Arbitrum Foundation.

The flagship work of the chain is "My Pet Hooligan", a battle royale game with an in-game asset trading volume exceeding $78 million. Currently, the game is fully migrating its token (KARRAT) and gameplay to Studio Chain. This signifies a broader trend: developers are shifting towards application-specific chains to customize game performance and in-game economy.

4. Investment Decline 69% , but “ Smart ” capital flows into infrastructure

Investment activity in the blockchain gaming and metaverse sectors nearly came to a halt in April, but there are still some cautiously optimistic reasons. The total amount of funds raised this month was only $21 million, a 69% decrease compared to March. The macroeconomic situation is also unfavorable, with ongoing uncertainty affecting investor sentiment.

However, despite the overall low numbers, the previously announced ecosystem fund has begun to yield results. The most notable of these is Arbitrum's $200 million ARB gaming fund, which has been officially renamed Arbitrum Gaming Ventures. After completing backend work in April, the first batch of investments was announced in early May.

The first allocation of 10 million dollars was distributed among five projects:

• Wildcard: A Web2 card game from Steam that has now transitioned to Arbitrum;
• Proof of Play: A blockchain service provided by the developers of Pirate Nation;
• XAI Network: One of the leading game Layer-3 chains built on Arbitrum;
• Hyve Labs: A multi-platform game distribution platform;
• T-Rex: Game Application Chain;

Arbitrum is not investing in brand new independent teams, but rather betting on established studios and experienced founders to ensure the growth of the ecosystem.

It is worth noting that as of now, 66% of all funds for 2025 have been allocated to infrastructure construction. Thus, it can be seen that with the continued entry of traditional gaming companies and significant investments in the ecosystem, people's long-term confidence in Web3 games has not only not weakened but has become more mature.

Investors today are placing more emphasis on sustainable models, player engagement, and actual retention rates, rather than just token speculation. This indicates that the market is clearly in a reset mode. Funding is harder to obtain, but this may not be a bad thing. Some weaker projects are being eliminated, and capital is flowing towards developers who are laying the groundwork for the next generation of blockchain games.

5. 5 Monthly Outlook

May will see significant updates, the release of the Alpha test version, and content updates, all of which could shake up the Web3 gaming space.

MapleStory N

Nexon's "MapleStory N" officially launched on May 15, and the game is built on Avalanche's "Henesys" subnet. This is a blockchain game from a well-known traditional IP, and the early data shows strong performance:

• The number of wallets registered during the testing period reached 1 million.
• Over 31.5 million transactions have been processed.

《Treeverse》

The reward activity for Season 1 of "Treeverse" is underway, featuring daily tasks and leaderboards, as well as in-game/NFT rewards.

《Gigaverse》

"Gigaverse" has launched two features aimed at improving player retention and growth:

《Illuvium》

In May, Illuvium: Zero is expected to be officially released. The ILV token has performed strongly, and the team is fully focused on the official launch, with more news likely to be announced soon.

6. Summary

April may not be a record-breaking month for blockchain games, but that's okay; the industry is readjusting. The speculative frenzy is cooling down, but developers are not slowing down. Games are continually being launched. The ecosystem is constantly expanding, and the infrastructure is maturing.

The decline in user activity (dUAW down 10%) and lower investment amounts (only $21 million raised) reflect the current risk appetite of the market. However, at the same time, we witnessed the first deployment of the $200 million fund from Arbitrum, new studios joining Immutable, and Ronin opening up to external developers. This is not explosive growth, but rather foundational work.

Large publishers continue to emerge, but those truly making progress are the ones collaborating with Web3 native teams. Additionally, there has been a clear shift in priorities from unsustainable token models to gameplay, interoperability, and actual user retention.

Related reading: A roundup of ten Web3 games to watch in May