WAX Represents over 42% Of All GameFi Users As Blockchain Gaming Momentum Picks Up Again

While the crypto markets remain mainly bearish, global interest in GameFi remains relatively stable. The industry segment has a small user dip, but there are still some interesting mechanics to keep an eye on. Moreover, the combined market cap remains above $10 billion, although things are always subject to change. 

WAX Dominates GameFi

When people talk about GameFi, they will often mention blockchain ecosystems like Ethereum or BNB Chain. However, the real GameFi action isn’t happening on those networks. Ethereum isn’t even in the top nine and is classified as “others,” along with smaller networks. That is remarkable, although it isn’t too surprising given Ethereum’s technical constraints today. 

The popularity of WAX can be attributed to prominent blockchain gaming titles like Alien Worlds, Splinterlands, and Farmers World. Those are the three top blockchain games by daily active users today, with Axie Infinity and Upland completing the top five. Moreover, WAX is also home to MiningNetwork, Blockchain Brawlers, prospectors, and many other gaming titles noting various degrees of success. 

The Popular Blockchain Games Today

It is equally crucial to keep tabs on what GameFi enthusiasts search for across data aggregators. It appears Thetan Arena is the top search query this week, ahead of Crypto Royale and Alien Worlds. Interestingly, the only other top-tier project in the top seven is The Sandbox, with no sign of Axie Infinity, Splinterlands, or Farmers World. That doesn’t mean interest in the WAX-based titles is waning, but it appears other projects have stepped up their marketing push. 

Another interesting facet is figuring out which game-related tokens perform well on the market. It is intriguing to see STEPN’s GMT and Enjoin Coin up there, along with native tokens of SMI Play, Deep Space, Exeedme, Decentral Games, and the Merit Circle DAO. A good collection of assets across various networks, highlighting the potential of different blockchains in GameFi and blockchain gaming. 

WAX Is the go-to blockchain for GameFi activity these days. More specifically, the network represents 42.72% of all GameFi participants today, well ahead of HIVE (16.86%) and Solana (9.02%). It is remarkable to see WAX dominate this space, even though the network doesn’t generate any significant media headlines, even on a good day.