Gaming Still Drives Blockchain Dapp Industry Growth
Last month, the number of daily unique active wallets (UAWs) connected to blockchain dapps (decentralized applications) reached an all-time high, exceeding 2m per day on average, according to a report by dapp information provider DappRadar. Despite a robust surge in the use of decentralized finance (DeFi) dapps, the number of UAWs connected to games represented 55% of the industry’s total.
“Splinterlands continue to be among the most played games in the industry, attracting over 650,000 UAW in October, representing 44% growth” month-on-month (MoM), they said.
The reported positive usage trend was observed across most networks that offer a game element. The Polygon (MATIC) protocol demonstrated the biggest expansion, raising its game usage by 322% MoM.
“The number of UAW connected to Polygon games reached 125,000 daily UAW on average in October … [which] represents an impressive 242% MoM and a staggering 982% when compared to August,” according to the dapp information provider.
Hive and Binance Smart Chain (BSC) also posted increases in their respective game activities. At the same time, two strong game-related blockchains, Wax and EOS, showed decreases in their game-related activities, as indicated by data from DappRadar.
In total, an average 1.2m UAWs connected daily to blockchain games last October. This represented about 55% of the blockchain industry’s activity. Meanwhile, the trading volume generated by game-related non-fungible tokens (NFTs) fell 11% compared with the preceding month.
The floor market capitalization for virtual worlds is now estimated at USD 1bn, growing 175% MoM, said the report. “Meanwhile, the dominance of virtual worlds NFTs went from representing 3% of the total NFT estimated market cap in September, to 8% estimated at the end of October,” it added.
The booming blockchain gaming industry is increasingly luring investments by venture capital (VC) firms.
“In October VCs invested at least [USD] 127 million in blockchain games-related platforms that include Animoca Brands, Treeverse, and trading card game Parallel,” according to DappRadar.
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