Web3 Games Are Dominating the Blockchain Sector: DappRadar

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  • DappRadar report shows that web3 games are dominating the sector.
  • The number of unique active wallets has increased by over 50%.
  • There has been an 83% increase in sales of NFT games.

DappRadar, a platform for analyzing decentralized apps, claims in its DappRadar x BGA Games Report that web3 games account for 50 percent of all blockchain usage.

The average number of Unique Active Wallets (UAW) engaging with blockchain games in August was 847,000; this was a reduction of 11% month over month, but still represented more than 50% of UAW in the sector.

Additional encouraging signs include a 13.25% month-over-month rise in the overall trading volume of connected NFT games and an 83.36% month-to-month increase in sales, with over 1.3 million NFTs related to games changing hands, the report shows.

With respect to protocols, Ethereum‘s value dropped by 14.40% to $11 million, whereas Solana’s value surged by approximately 171% to $1.7 million within the same time period. Also, Ronin’s total trading volume has hit $8.2 million, representing a 27.64% MoM growth.

Investment and cooperation in blockchain gaming continued throughout the year, with $748 million raised in August, up 135% from July but still down 16% from June, continuing the year-long pattern.

As a total, DappRadar found that 38% of funding goes into physical plants, 33% toward entertainment in the form of games and metaverse initiatives, and 27% toward financial backers.

Investors poured $3.1 billion into the blockchain gaming business in the previous quarter, and analysts now predict that $10.2 billion will be invested in the sector as a whole this year, a 20% increase from earlier projections.

Trading volume in virtual world projects fell by 28.90% month over month to $22 million. In spite of this, the number of transactions increased by 38.62% month-over-month, reaching 19,354.

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