Game Dapps Put In 52% of Whole Blockchain Activity in Q1: DappRadar -Breaking
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DappRadar: Game Dapps Contribute 52% to All Blockchain Activity during Q1- Blockchain games account for 52% of all blockchain activity.
- Also, blockchain games raised over $2.5 billion.
- Metaverse economic potential is estimated by financial institutions to be at least $8 trillion.
Blockchain gaming contributes 52% to the total blockchain activity and is leading the dapp market, according to DappRadar (market tracker) and Blockchain Gaming Alliance, (BGA).
According to Wednesday’s Q1 2022 Games report, blockchain gaming activity increased 2000% in comparison with last year. Despite 1.17m unique active wallets, a 2% drop from 2021 to 1.22m UAW (UAW), blockchain games attracted 1.22m daily UAW in March.
Game dapps earned 114 000 daily UAW in the first quarter. In March, however, daily UAW rose to 173 000. Meanwhile, BNB Chain’s numbers went down since last year. BNB Chain still ranked third in Blockchain Gaming Activity, with 165k UAW per day.
DappRadar also reported the drop in Axie Infinity’s blockchain activity. However, it said that the recent Ronin attack was not solely to blame as the activity “was already in decline”. Registering only 22 thousand daily UAW in March, it can be remembered that the community has shared that Axie’s play-to-earn model is no longer working.
Sky Mavis made changes that contributed to the decrease. Axie remains among the top 10 most used blockchain games according to daily usage with 1.5million active users.
It was also noted that the blockchain-game industry is also leading in investment, with a staggering $2.5 billion being raised during the first quarter 2022. If funding increases at the current rate, this number could rise 150%.
The report included big deals such as the $360m raised by Animoca and the Sequoia Capital investment of $450 millions in Polygon. It also listed the $450million funding for Yuga Labs.
Even with declining trading volumes, momentum continues for metaverse projects. The DappRadar report cited financial firm Morgan Stanley’s estimation that the metaverse has the economic potential to become at least an $8 trillion market.
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