#292: Gaming Trends in 2024 (So Far!)

Brevan Howard Digital's Colleen Sullivan, Alex Matthews and Ross Trachtman argue that web3 gaming's long-term growth depends on integrating web3 technology into games, even as both web2 and web3 gaming face declines. They cite Matthew Ball's essay, which reports 2023 layoffs of 10,500, a record, and a 2023 drop in US gaming revenue of 2.1% from 2022. They also note that web3 gaming token prices fell sharply in April 2024, with the altcoin market index dropping from $350 billion on March 24 to $245 billion on April 30, and that Immutable's token fell 50% between March 11 and April 30.