The number of cryptocurrency wallets participating in the blockchain game has spiked in recent months, according to new research.
According to DappRadar’s Q3 “Blockchain Gaming Report,” the total number of uniquely active wallets connected to gaming decentralized apps reached 754,000 during this period. This represents almost half of the industry’s activity, with the blockchain industry registering an average of 1.54 million unique active wallets per day over the three-month period.
The unique active wallet metric refers to a unique address that interacts with a specific smart contract, so it doesn’t necessarily translate into daily active users.
The increase in gaming activity was primarily driven by the Game Money campaign and in-game non-fluffy tokens. The study noted that these in-game NFT collectibles generated $2.32 billion in sales in the third quarter, adding that this represented 22% of total NFT transactions in the period.
“With all the excitement surrounding ethereum collectibles such as CryptoPunks and Bored Ape Yacht Club (BAYC), the role played by in-game NFT items may have been overlooked.”
From July to September, the NFT space saw approximately $10.67 billion in transactions, up slightly more than 700% from the previous quarter.
The Axie Infinity metaspace has been one of the main drivers of blockchain gaming. Players collect and breed “Axies,” which are virtual creatures that can be used in player vs. environment (PvE) and player vs. player (PvP) battles in the game.
Axie Infinity amassed $2.08 billion in transactions in the third quarter and has now reached a total of $2.55 billion in transactions.DappRadar reports that there have been more than 6.7 million in sales to date, with a current 24-hour volume of $15.2 million.
NFT tracker CryptoSlam lists Axie Infinity as the highest selling series in the last 30 days with $504 million in sales.
In late September, Axie Infinity enabled bets on its native AXS tokens, which added another layer of passive income on top of Axie’s gaming revenue potential. The move ignited AXS trading and drove the price to an all-time high of $155 on October 4.
Gaming societies such as Yield Guild Games, which raised $12.5 million in a 30-second IDO (initial DEX offering) in July, have also seen huge momentum in recent months.
Guilds have been actively adding play-to-earn games to their growing ecosystem of late, including Thetan Arena, CyBall, Influence, Merit Circle and Star Atlas, so far this month alone.