DappRadar Report Indicates GameFi Growth of Over $320 Million Despite FTX Collapse
The study, which was published on DappRadar on December 1, indicates that despite the fallout of FTX, blockchain gaming has managed to retain its momentum and player base.
Blockchain games and metaverse projects raised $534 million, and the total NFT in-game volume in October and November reached $55 million.
DappRadar’s Findings
Out of all of the games listed and analyzed, two stood apart. Alien Worlds and Splinterlands remained the two most played Web3 games.
- Alien Worlds had over 225,000 UAW registered in September.
- Splinterlands had over 151,000 UAW registered in September.
As for October, Trickshot Blitz saw an increase of 70%, where it reached 23,086 daily UAW.
PlayMining increased in activity by 33% upon reaching 22,466 daily UAW in November, an increase facilitated by the announcement of Graffiti Racer, a Web3 game.
Gods Unchained remained the top game based on trading volume alone, where it generated 60% of the total trading volume for game-related assets.
STEPN saw over 2.23 million users and over 700,000 minted shoes across 2022. The Sandbox’s Alpha Season 3 was a popular event, seeing 353,000 unique users across 98 new experiences.
Wax (WAXP) has remained the most dominant gaming protocol, where it featured over 340,000 UAW. The BNB Chain was the second-most-popular blockchain, with 171,269 UAW.
On the Flipside
- Despite the success of some blockchain gaming projects and networks, Solana’s GameFi sector saw a decrease of 89.42%, with an average of 2,326 daily unique active wallets. Some of the key games on Solana that took the fall are Aurory, Star Atlas, and TapFantasy.
Why You Should Care
Blockchain gaming has not been as impacted by the collapse of the FTX exchange as other areas in the crypto space.
A large number of Unique Active Wallets (UAW) have interacted with smart contracts, and numerous blockchains are leading when it comes to game availability and engagement, such as Wax and the BNB Smart Chain.
The sustained level of success and engagement will drive the GameFi sector forward, as it has proved it can sustain momentum despite harsh market conditions and a crypto winter.
