In the midst of the bear market, games increased their activity and investment.
The latest data from DappRadar revealed that Blockchain gaming accounted for 42.67% of the activity on 50 Blockchains between October and November, which shows signs of recovery in the crypto market after the collapse of crypto companies.
In November, around 800,875 unique active wallets (UAWs) interacted via smart contracts with games daily; however, it represented a brief decrease, compared to September, when there were 911,720 active wallets.
DappRadar had the following to say about gaming on Web 3.0:
“Alien Worlds and Splinterlands continue to be the top two most played Web3 games, with more than 160,000 daily UAW registrations as of September. Gameta, a gaming platform that was first implemented in Solana and now runs on the BNB chain, attracted more than 1 million UAWs daily in September. Similarly, Polygon’s Benji Bananas climbed the rankings over the past quarter, attracting more than 29,000 UAWs a day in September.”
The report shows that the Blockchain with the most significant decrease in gaming activity was Solana (SOL), with 90% last month, with an average of 2,326 daily active wallets. In the past two months, projects in games and in the metaverse have raised $534 million.
Funding Decreases After FTX Crash
This year, the investment forecasts in crypto games remain at 8,160 million dollars, 104% more than in 2021, when it was for 4,000 million dollars. However, in the third quarter of 2022, funding decreased by $500 million, which coincides with FTX’s bankruptcy period.
According to Finbold, transactions in games that include non-fungible tokens (NFTs) also increased by $55 million between October and November, with the most popular being Gods Unchained, which generated 64.25% of the ecosystem’s transactions, $13.45 million in two months.
Insights from the Report
Some insights from the DappRadar report were the following:
The number of unique active wallets in the Blockchain gaming industry increased 8% ($912,000) month over month, and their dominance remains above 48%.
Gameta, the new Web 3.0 gaming platform on the BNB Chain, became the most used dApp in September, surpassing PancakeSwap, with more than 1.33 million unique wallets in the last 30 days.
In September, due to a P2E gaming tournament with significant in-game NFTs for the winners, Benji Bananas, a game produced by Animoca Brands, had an increase in active wallets of over 2,400% from the previous month.
Sandbox Alpha Season 3 has over 90 experiences, with 4 million people registered with a wallet and over 200,000 daily active users.
In short, Web 3.0 gaming is a relatively young space, but its growth cannot be denied. Web 3.0 gaming can be considered one of the major driving forces behind the increasing interest in the NFT and metaverse space. What will happen next remains to be seen.
By Audy Castaneda
