Decentralized gaming is attracting a growing number of gamers, and is a major contributor to blockchain adoption. About half of all blockchain users play games that now allow them to win digital assets.
Blockchain games: nearly 50% of unique active wallets connected to dapps games
DappRadar’s Q3 Blockchain Game Report was recently released on October 14. Among other things, it tells us that the blockchain industry averaged 1.54 million daily unique active wallets (UAWs), a 25% growth from the previous quarter and a 509% growth from a year ago. It turns out that nearly half of these cryptocurrency aficionados interacted with blockchain-based games!
One of the reasons for this growth is the play-to-earn model, which gives the opportunity to accumulate assets in the game, and trade them with other players.
NFT and blockchain games: the intersection of two worlds with a more visible footprint
The success of blockchain-based games is also marked by the rise of in-game non-fungible tokens (NFT). 22% of NFT transaction volume in Q3 2021 involved in-game NFTs. These generated $2.32 billion in sales during this period.
Splinterlands, which is a collectible NFT card game based on the Hive blockchain, attracted the most users in Q3 2021, with 245,000 players in September 2021. In addition to Axie Infinity and Splinterlands, others include Crypto Prophecies, Star Atlas, and My Crypto Heroes, which are also among the games with a loyal player base that are starting to offer in-game NFTs.
The success of blockchain-based games is also reflected in the amount of fresh capital inflows into the sector. Galaxy Interactive, the metaverse-focused subsidiary of Galaxy Digital, for example, recently raised $325 million. 150 million was invested in companies working in artificial intelligence, gaming, and NFTs.