Blockchain Gaming Continues Surge Dappradar Gaming Report Reveals
New York City: The most recent gaming report from DappRadar for the third quarter demonstrates that Blockchain Games are continuing to drive the Web3 revolution.
Gaming is responsible for more than 48 percent of all blockchain activity in the third quarter, and the Move2Earn genre is generating a lot of buzz.
The number of unique active wallets in the blockchain gaming business climbed by 8% month-over-month to a total of 912K, despite the precipitous drop in investment numbers that occurred in September.
Over 1.33 million different wallets were used to access the Gameta decentralized application (DApp) during the month of September.
In addition, Blankos Block Party and Star Atlas were the first Web3 games to be made available for purchase on the Epic Games Store, which represented a significant turning point in the development of Web3.
The digital collectable card game Gods Unchained pushed its way into the top five collections by NFT trade volume after raking in more than $18 million in sales during the month of September.
However, blockchain gaming and metaverse investments only raised a total of $156 million in September, which was the lowest amount raised during the whole year.
The most important players in the blockchain gaming industry
Alien Worlds reclaimed its position atop the rankings during the third quarter of 2018, accumulating 190,770 average daily unique active wallets (UAWs) – an increase of 14% from the number of UAWs recorded during the second quarter.
This quarter, Splinterlands is the second most played blockchain game, with an average daily UAW of 159,522. This is a 47% reduction from the game’s performance in Q2.
In September, the Web3 gaming platform Gameta became the most popular decentralized application (DApp) with a stunning 1.83 million users. September saw a 109% growth in the company’s daily unique active wallets, which brought the total to 69K. This was a 253% increase from the previous quarter.
Benji Bananas had a 2468% increase in the number of daily UAWs it processed in the month of September.
Despite this, the first play-to-earn phenomenon, Axie Infinity, has seen somewhat of a decline in popularity. In comparison to the previous quarter, the number of daily UAWs for the game dropped by 86% in the third quarter.
This reflects a rising view that the play-to-earn genre, which is epitomized by Axie Infinity, is being replaced by a new generation of blockchain games. Axie Infinity is a prime example of this.
Are people stopping their use of virtual worlds?
The third quarter was a particularly difficult one for Metaverse projects; trade volume dropped by 91.61% from the previous quarter to $74 million, while revenues dropped by 37.54%.
Despite the support of Snoop Dog, the amount of money being traded on Otherdeed, which is the territory for Otherside, has significantly decreased. The metaverse platform, which accounted for 73.98% of the overall trade activity in the metaverse during the third quarter, generated $54 million in revenues, representing a reduction of 92.70% from the previous quarter.
Although Netvrk Land had a remarkable growth of 54.16% ($173K) from the previous month, the trade volume is still down 62.34% from the second quarter, which was the lowest level ever recorded.
In addition, the trade volume for NFT Worlds fell by 80.62% in the third quarter, reaching a total of $3.6 million in sales. It is quite clear that the July change that removed the ability to use NFTs in Minecraft was a major contributor to this decline.
The gaming industry is still expanding
In conclusion, the findings of the DappRadar Q3 gaming research showed that there is optimism around Web3 gaming.
Although there was a 48% drop in the amount of money invested in blockchain-based gaming and metaverse initiatives during the third quarter, the amount of money that was raised by this sector has nearly quadrupled since this time last year.
The migration of new waves of gamers to Web3 is continuing, and there are lots of intriguing new stars rising in the ecosystem. It is obvious that the future of Web3 gaming is bright.