Ronin’s 2025 Year in Review
Green shoots in the frost 🌱
Key Points
Part 1: Ronin by the Numbers — See an overview of how the Fortune Spin, Ronin Market, Ronin Arcade, and Ronin Wallet did in 2025.
Part 2: Builder Highlights — Ronin opened up in February, and about 1,000 teams have started building since. See a shortlist of a few notable moments in our ecosystem over the past year.
Part 3: What’s coming in 2026 — Ronin’s Homecoming to Ethereum is underway, and our Proof of Distribution protocol is launching soon. We’re also laser-focused on onboarding new users via a new payments strategy, partnership that bring trading card stores onchain, and more accessible UX/UI across Ronin products.
2025 was a year of transformation for crypto. Stablecoins became spendable. Regulations softened. Everyone, including The President of the United States, launched a memecoin.
However, fatigue has set in for some, leading to a shrinking belief that crypto’s utility extends past a few isolated use cases. Many longtime allies (and enemies) laid down their arms as a result. Our industry is against the ropes, and it’s harder than ever to keep swinging. So, what does that mean for us?
We remember when nobody knew Axie Infinity even existed. There were only 200 players in the early days, and that number grew to two million. If you would have bet against Axie back then, you would have been wrong.
We remember when nobody thought Ronin would recover from a devastating attack. That was two years before our daily active users hit an all-time high. If you would have bet against Ronin back then, you would have been wrong.
Today, we know where we stand. It’s easy to think that things will stay the same. However, history tells us the opposite. It has never been a good idea to bet against us. We’re being called to evolve, and that’s what we’ll do. In the meantime, here’s a recap of 2025:
Part 1: Ronin by the Numbers
In 2025, Ronin Market processed tens of millions of RON in pre-sale commitments and trading volume. This demand came from a diverse stable of builders including:
Ragnarok Landverse Genesis: $4M+ in volume and 14.9M RON in presale commitments
Fableborne: $1M in volume and over 15M in presale commitments
Moki Genesis: $1.3M in volume and 12M RON in presale commitments
While volume may be down across the board for NFTs, the number of buyers is trending up across the space and on Ronin. This is a signal that the market is maturing from speculation to collection.
Community builders including Ronkeverse, Cute Asian Girl, and Original Kanstar have also been driving massive engagement. For example, Chicken Saga Genesis had over $750K in volume and 1.75M in presale commitments after receiving only a modest builder’s grant earlier in the year.
In June, we launched the Fortune Spin on Ronin Market. Think of it like an onchain Blind Box: Spin for a chance to win prizes! The Fortune Spin has drawn over $1.5M USD in spin volume, and has seen over 200K total spins so far. Demand has been strong. We also introduced popular buyback and cash-back systems to give spinners even more reasons to spin.
This experiment in gamified real-world asset tokenization has given us the confidence to build more connective tissue between onchain off-chain collectible worlds. As an example, check out our recent alliance with Mystic Crew, and stay tuned for more in 2026!
Imagine having a Web3 gaming arcade in your pocket where you can win tokens, NFTs, and even a PS5. That’s Ronin Arcade. During its first season, over 30,000 players competed over 70,000 quests across eight games. Ronin Arcade simplified onboarding into our ecosystem by serving a buffet of popular games for anyone to feast.
During its second season, we implemented community feedback from S1, introduced fresh mini-games, and made the available quests more beginner-friendly. The results were promising. Each player completed 3x more quests on average.Several players even reached the max score! Step by step, we’re making it easier to onboard onto Ronin.
Part 2: Green Shoots Emerge (Builder Highlights)
Ronin opened up in February, and about 1,000 teams have started building since. We’ve seen over 5M active users make more than 250M transactions, and our ecosystem has grown bigger than ever. Of course, we want more. Regardless, many builders continue to stand out like green shoots in an otherwise frosty market.
Fableborne’s Season 4 and $POWER TGE launches injected a much-needed shot of adrenaline in our industry. Their token scored a Binance Alpha listing, and their Kingdom NFT collection has done over 2.2M RON in trading volume to date. Congrats to the team on the smooth execution and for having the conviction to stay focused in a brutal market.
Cambria’s Gold Rush Seasons 2 and 3 drew millions in prize pools, while their Cores NFT collection hit over 1.4M RON in trading volume. In Cambria: Duel Arena, players also wagered more than $30M USD. Congrats to the team on building a committed community of Web3 degens, and setting the standard in risk-to-earn games!
Moku Grand Arena is a new kind of AI-powered fantasy sports game preparing for a full launch in early 2026, and interest is already sky-high: Their presale saw over 122,000 ticket purchases from 20,000 unique buyers, while their Moki Genesis NFT collection has surpassed 3.5M RON in trading volume after seeing a 2x surge in floor price. Keep an eye on Moku Grand Arena!
Fishing Frenzy went LIVE on Ronin in March, and has shipped a flurry of new features since. They launched a reputation system called Proof of Contribution powered by Karma, shipped a popular risk-to-earn Diving mini-game, launched the $FISH token with unique staking mechanisms, and more. Their second season also saw over 1.8M transactions from 47.5K wallets. Congrats innovating and showing other Web3 games what’s possible.
Ragnarok Landverse has proven to be a powerhouse for Web2 conversion. 70% of players are traditional gamers, with a steady 120k monthly active players. Their NFT collection has a total of 8.14M RON in volume. The Genesis Server generated $2.25M revenue in just six months, and the recent ROL America launch reached ~200k pre-registrations. Congrats on forging ahead into new markets and bringing Web3 gaming to new audiences!
Angry Dynomites have delivered a steady stream of solid releases since their August launch. They’ve already clocked over 8.7M transactions and built a passionate community around their resource management game: Craft World. They’ve even forged alliances with other Ronin builders including Moku, Fishing Frenzy, Ronke, and Axie Infinity. Congrats on being a rock in our community of builders!
Chicken Saga is a community-built game punching way above its weight. This small team of devs has driven over $874k in secondary sales on Ronin Market, with a staggering 38M $COCK spent on breeding and 32M $COCK on crafting. Season 0 also saw 77,000 matches played. Congrats on making big things happen with 20 RON and a dream!
Pixels continues to lead the way in NFT reach, volume, and innovation after a breakout 2024. The team took home Browser Game of the Year at the GAM3 Awards 2025, surpassed 4M RON in trading volume, and is gearing up for a full launch of a mobile rewards app called Stacked. Congrats on the continued success!
Ecosystem Development
We also worked with builders beyond game studios in 2025. Our ecosystem team distributed 12 strategic grants to projects ranging from prediction markets to community-led games and tooling teams. Learn more here! We also showed up in force at ETHGlobal Cannes and ETHGlobal Devconnect (Buenos Aires). Seventeen projects participated in Ronin’s hackathons across both events.
Finally, we partnered with Caliber to run developer meetups and initiatives on the ground in Vietnam, strengthening one of our most critical developer hubs.
Part 3: What’s next?
The coming year is calling us to evolve in new directions. We have many strengths to lean on, and we understand that our industry can only grow by onboarding new users. Ronin’s industry-leading retention metrics tell us that once users join our movement, they tend to stick around. However, what will it take to grow that user base even further? This is where we’re headed:
Ronin’s Homecoming to Ethereum
In August, we announced Ronin’s migration to a L2 powered by Optimism’s OP Stack. This will bring more apps and liquidity, 12x faster transaction speeds, and stronger security to our network. It will also make it possible to introduce an automated way to incentivize builders called Proof of Distribution.
What is Proof of Distribution?
In 2026, Ronin will transition validator rewards to builder rewards using a Builder Score. The idea is straightforward: The more value you drive to Ronin, the more rewards you get. Alongside apptokens in development like bAXS and bRON, Ronin will have built-in tools to give rewards to our networks largest contributors and users. This system is called Proof of Distribution, and here’s what it will measure;
Total Value Locked (TVL): The total value held within a given contributor’s app.
Gas Spent: Aggregate gas consumption attributable to the contributor’s app.
New Users: Newly created addresses that interact with the contributor’s dApp while maintaining a balance greater than 10 RON
Active Users: Addresses that interact with the contributor’s app during the measurement period while maintaining a balance greater than 10 RON
Volume: Transaction volume (both NFT and ERC20) generated by the contributor’s app
Remember: Stronger performance means higher rewards.
The Grand Arena Booster Box pre-sale is over, and pack opening is set to start in January! Follow Moku’s socials here to stay up-to-date.
Moku: Grand Arena
Grand Arena is a new kind of AI-powered gaming ecosystem built by Moku. It’s where animated and autonomous tanuki (Japanese raccoon dogs) called Mokis compete in multiple arena-based games. Players can build line-ups of Mokis, collect Moki cards, and even earn royalties when their Mokis perform well! Season 1 of Grand Arena is set to launch in early Q1 2026.
Want to check it out? Pick up a Moki for ~750 RON for the chance to earn royalties, access the Moki Manager game mode, and more. Or, grab a Booster Box for under 350 RON to start building your own line-up, grade and upgrade your cards, enter Daily Contests, and more.
Scaling More Experiments
During the first half of 2026, we’ll be focused on scaling a few promising experiments.
Bringing collectible trading stores onchain: Last week, we brought our Fortune Spin to Mystic Crew, an IRL collectible store in Hanoi, Vietnam. This was the first step towards bringing Southeast Asian TCG retailers to Web3. Interest in collectibles has surged in the USA last year, and Southeast Asia is following in those footsteps. Stay tuned for more details in Q1 of next year.
IRL Payment Solutions: Crypto has the power to make it easier for everyone to spend, save, and send money. It’s always been clear that our strong recognition and loyal userbase in emerging markets could act as the foundation for a move into a market potentially much larger than gaming: a crypto-powered payments solution for everyday users. We saw this in 2021, when merchants across the world experimented with accepting AXS and SLP in their shops to attract the business of axie players. Now, we’re taking steps to take this possibility and turn it into reality. Next year, we’re taking a bold step towards an Emerging Markets Payments strategy. Our recent partnership announcement with Coins.ph is just the first step here.
Making Crypto Onboarding Easy: We’re upgrading our Account Service and Wallet layers to provide a full, frictionless experience to onboard more users. It’s time to fix clunky crypto onboarding.