• Blockchain gaming booms amid Metaverse hype

  • Data from analytics platforms DappRadar and Token Terminal reveals a boom in blockchain gaming. 55% of all unique active wallets connected to blockchain games in October, marking the third consecutive month that more wallets connected to gaming dapps than the DeFi protocol.

    Blockchain gaming hits all-time high

    October was a good month for blockchain gaming.

    According to DappRadar, a leading decentralized app analytics platform, blockchain gaming accounted for the majority of activity in the dapp industry in October. In the past month, 55% of uniquely active wallets (UAW) totaling 1.19 million users interacted with gaming dapps.

    These figures show the growing dominance of blockchain gaming, with October being the third consecutive month in which more uniquely active wallets connected to gaming dapps than DeFi protocols.

    Established blockchain games such as Sky Mavis’ Axie Infinity account for more than half of all blockchain game users. on-chain activity spiked in October, thanks in part to the game’s newly released AXS token staking feature. In the past month, 647,000 UAWs connected to Axie, a 27% increase over September.

    In addition, data from Token Terminal shows that transactions on Axie Infinity have also reached new highs. As of Nov. 4, trading volume on the gaming marketplace reached a record $38.2 million per day.

    Splinterlands, a collectible card game that can be played and earned, has also been making waves. Despite running on the relatively unknown Hive blockchain, Splinterlands’ user base has grown by 3260% over the past year thanks to the addition of SPS tokens, which users can earn by playing the game.

    Polygon has seen the biggest shift to gaming, with over 70% of unique active wallets on the network playing blockchain games, up from less than 15% in August. mobile gaming dapps such as Animoca-branded Arc8 are largely responsible for the sudden surge in games on the ethereum sidechain. in early October, daily active addresses on Polygon reached a 531 ,831 a new all-time high.

    Metaverse gaming has also taken off, fueled by Facebook’s recent name change to “Meta. “The value of native tokens on Metaverse platforms like Decentraland and The Sandbox has soared, while trading volumes on OpenSea’s gaming mainland block NFT have also skyrocketed. In addition, The Sandbox recently closed a $93 million Series B round led by SoftBank’s Vision Fund 2.

    As cryptocurrency games demonstrate their ability to engage users, other blockchains are looking to develop their own gaming ecosystems.Solana Ventures, Lightspeed Venture Partners, and FTX just announced a $100 million joint initiative to develop games on Solana, saying the network’s high-speed, low-cost capabilities will enable cryptocurrency gaming to flourish.

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