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Blockchain Gaming Continues to Grow, DaRadar Gaming Report Reveals – NFT News Today

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DappRadar’s latest gaming report for Q3 reveals that blockchain games continue to power the Web3 revolution.

Gaming accounts for over 48% of all blockchain activity in Q3, and the Move2Earn genre is making waves.

Despite a dip in investment figures in September, the number of unique active wallets in the blockchain gaming industry increased by 8% (912K) month-on-month.

Gameta was the most used DApp in September with over 1.33 million unique wallets.

Additionally, Blankos Block Party and Star Atlas became the first Web3 titles released on the Epic Games Store, marking a major milestone in Web3 history.

With over $18 million in sales in September, digital collectible card game Gods Unchained moved into the top five collections of NFT trading volumes.

However, blockchain gaming and metaverse investments were the lowest of the year, with just $156 million raised in September.

Blockchain Games: Movers and Shakers

In Q3, Alien Worlds topped the charts again, with 190,770 average daily unique active wallets (UAWs) – a 14% increase from Q2.

Splinterlands was the second most played blockchain game this quarter with a daily average of 159,522 UAW, down 47% from Q2.

Gameta, the Web3 gaming platform, became the most used DApp in September with 1.83M users. Its daily unique active wallets grew 109% in September, reaching 69K and up 253% from Q2.

Also on the rise, Benji Banana increased its daily UAWs by 2468% in September.

However, revenue from the original game sensation Axe Infinity has suffered a fall from grace. In Q3, the game saw an 86% decrease in the number of daily UAWs compared to Q2.

This reflects a growing sense that the play-to-earn genre, epitomized by Axe Infinity, is being usurped by a new wave of blockchain games.

Is the virtual world being abandoned?

Metaverse projects experienced a sharp decline in Q3 as trading volume fell 91.61% from Q2 to $74 million, and sales fell 37.54%.

Despite Snoop Dogg’s support, Otherdeed (Land of the Otherside) suffered a dramatic decline in trading volume. The Metaverse platform, which represented 73.98% of total Metaverse trading volume in Q3, generated $54 million in sales, down 92.70% from Q2.

Netvrk Land saw an impressive increase of 54.16% ($173K) compared to the previous month, but is still down 62.34% from Q2, the lowest trading volume ever recorded.

Additionally, NFT Worlds’ trading volume fell 80.62% in Q3, reaching $3.6 million in sales. Apparently, the slowdown was caused by the Minecraft ban on NFTs in July.

Move-to-Earn moves forward

On a more positive note, move-to-earn DApps are gathering serious momentum, led by STEP, which celebrated its first anniversary in September.

STEP has over 3 million monthly users and over 735,000 shoes minted in 30 quarters. However, the number of monthly active users fell by 67%, to 482K.

Making a big splash, Sweat Economy announced its Web3 arrival at NEAR with the largest NFT airdrop in the history of the protocol.

On September 13, they distributed SWEAT tokens to 13.5 million token holders.

After SWEAT’s record-breaking sale on DAO Maker, the Sweat Wallet app has become the most downloaded finance app in 51 countries. Since its launch, the app has had over 1.3 million active users and over 1.5 million transactions, marking SWEAT as a major force on the Web3.

Vulcan Forged comes with a large investment

One to watch in the blockchain gaming world is Vulcan Forged, which has raised $8 million in funding led by SkyBridge Capital, an investment firm founded by former White House communications director Anthony Scaramucci.

The investment is intended to accelerate the expansion of “Metascapes,” an immersive metaverse game that enables players to create their own areas and store that data via NFTs.

Web2 to Web3 paradigm shift

On September 10, Atari X announced the launch of Atari Sunnyvale, a massive social and gaming experience in The Sandbox, featuring environments based on classic Atari games.

Days later, Guild of Guardians (GOG), a mobile squad-based action role-playing game, announced a multi-year deal with eight of the world’s largest and most prestigious professional esports organizations.

On top of all that, Blancos Block Party and Star Atlas launched on the Epic Game Store, opening the door to a whole new world of web2 gamers.

Gaming is still growing

In summary, the DappRadar Q3 Gaming Report revealed a positive outlook for web3 gaming.

Although investment in blockchain-based games and metaverse projects fell 48% in Q3, capital raised by this segment nearly doubled last year’s total.

As new waves of gamers continue to migrate to Web3, and with so many exciting, rising stars in the ecosystem, it’s clear that Web3 gaming has a bright future.

For more DapRadar insights, visit their socials at the following links:

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