NFT and GameFi M&A deals increased sharply in the first quarter of this year, according to The Block. About 38% of M&A deals in NFT and GameFi happened in the past two quarters.
There have been only 53 NFT and GameFi M&A deals since 2012 but up to 20 deals were in the first half of 2022, of which Q1 and Q2 were 8 and 12 respectively. The highest deal in the second quarter was also involved in NFT and GameFi with OpenSea’s acquisition of Gem.xyz – the NFT aggregator solution worth $238 million.
Notably, M&A deals in these industries increased sharply at a time that was considered a bad time for the crypto market in general and the NFT in particular as cryptocurrencies plummeted and the trading volume on top marketplaces also decreased by 94%. The NFT market has grown massively in the last year, attracting a lot of attention from the community. As a result of the NFT craze, the global NFT market reached $17.6 billion last year. The 2021 record showed a 21,000% growth compared to the $82.5 million market value in 2020. With many new projects coming out in the future, the global NFT market is expected to reach $21.33 billion this year.
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