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DappRadar: The Blockchain Gaming Sector Is Still Growing Fast, DappRadar’s Blockchain Games Report #7 Shows

·4-min read

DappRadar
DappRadar: The Blockchain Gaming Sector Is Still Growing Fast, DappRadar’s Blockchain Games Report #7 Shows
08-Sep-2022 / 19:30 CET/CEST

The Blockchain Gaming Sector Is Still Growing Fast, DappRadar’s Blockchain Games Report #7 Shows

 

News release by DappRadar

Kaunas, Lithuania | September 08, 2022 12:26 PM Eastern Daylight Time

 DappRadar, the global app store for decentralized applications, and the Blockchain Game Alliance, have revealed that the blockchain games continue to be a driving force for the dapp industry, with more than 50% of dapp usage and $748 million raised.

In August, 847,000 daily Unique Active Wallets (UAW) interacted with blockchain games on average, an 11% decrease from last month. Still, the category represents more than 50% of the industry’s usage, with Alien Worlds and Splinterlands leading the rankings with over 150,000 daily wallets on average each.

While the average daily number of UAWs connected for the top gaming protocol Wax decreased by 8% from July, Hive saw its activity climb to an average of 169,043 daily UAWs, a 12% month-over-month increase (MoM). This growth was driven by the play-to-win trading card game Splinterlands, a dapp that reached three billion battles played only a few months after the game hit two billion users in March 2022, indicating steady user engagement growth.

Another bullish aspect for games is the NFT activity related to game assets. The total trading volume of related NFT games increased by 13.25% from the previous month, and the number of sales increased by 83.36%, with more than 1.3 million game related NFTs traded.

 

Virtual world (metaverse) projects experienced a down month as the category’s trading volume decreased by 28.90% MoM to $22 million. However, the number of sales climbed by 38.62% MoM to 19,354 showing that the demand for this type of projects is still significant. Especially with events like The Sandbox Alpha season 3 which is covered in detail inside the report.

Otherdeeds for Otherside had a decrease of 27.41% compared to last month, but still represents 73.23% of the total trading volume of virtual worlds. Decentraland had a monthly decrease of 23.86%, below $1.5 million, the lowest we registered since January 2021. Also NFT Worlds had a decrease of 76.43%, the lowest amount of trading volume ever recorded.

On another note, STEPN remains one of the most popular M2E (move-to-earn) dapps, with over 3 million accumulated monthly users and over 700,000 shoes mined, and is establishing its first physical office at Hong Kong's government-run start-up accelerator Cyberport, making the city its first regional headquarters outside Australia.

Finally, following the trend witnessed throughout the year, partnerships and investments in blockchain gaming kept coming with another $748 million raised in August, a 135% increase from last month, but still a 16% decrease from June.

An investment of $200 million, representing 27% of total investments, was raised by Gabriel Leydon, the founder and former CEO of Machine Zone, the mobile gaming studio behind Game of War and Mobile Strike, for a new blockchain start-up called Limit Break. The project gained popularity after the successful launch of its DigiDaigaku free-mint NFT collection, which we analyzed in this report.

 

Looking at the whole picture, we observed that 38% of the investments goes to infrastructure, 33% to games and metaverse projects, and 27% to investment firms.

“Despite the economic downturn, the conflict in Ukraine, rising inflation, the cryptocurrency winter, and a fresh gaming slump, the financing indicates that game investors are beginning to get enthused about blockchain mobile games. And Web3 teams with a compelling proposal may still get a massive financing round,” stated the report.

“We are still at an embryonic stage with vast growth potential. While there are still several areas for improvement, the sector is constantly developing and inventing. GameFi’s future looks good, and is on the route to becoming the lead towards web3,” the report concluded.

 

About DappRadar

Founded in 2018, DappRadar is the The World's Dapp Store: a global decentralized applications (dapps) store, which makes it easy for its base of more than one million users per month to track, analyze, and discover dapp activity via its online platform. The platform currently hosts more than 10,000 dapps from across 30+ protocols and offers a plethora of consumer-friendly tools, including comprehensive NFT valuation, portfolio management, and daily industry-leading, actionable insight.

Socials: Twitter - Discord - Reddit - Telegram - Facebook 

 

Contact Details

 

Dan Edelstein

 

pr@marketacross.com


Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

End of Announcement - EQS News Service

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