• NFT dApps are on the rise as $2.9 billion pours into the sector

  • It’s been an outstanding year for the DeFi platform, with venture capitalists investing over $2.9 billion in top NFT dApps and other blockchain projects. From play-to-earn to NFTs, the entire cryptocurrency market continues to compete for success on a global scale.

    NFT dApps, an area of high interest

    Surprisingly, some of the world’s top investors have started backing the DeFi space financially this year. In fact, even major financiers like Raoul Pal, CEO of Real Vision, have decided to join the trend.

    While DeFi dApps have been around for years, they have never appealed to the general public like they do now. Truth be told, NFT trading and play to earn game mechanics are the main reasons behind this major shift.

    Skirmantas Januskas, CEO of DappRadar, confirmed that NFTs have given DeFi dApps a wider audience:.

    “This year, NFTs gave the ethereum blockchain the energy it needed to reach the new ATH. they also brought some healthy competition,” he said.” NFTs – and the gaming and virtual worlds that come with them – make everything more tangible and accessible. We’re no longer in the abstract, financial jargon-filled world of trading. Amazingly, the dApp space is evolving into a whole ecosystem that is now accessible to anyone.”

    Play to earn games are becoming mainstream

    For example, let’s take a look at one of the most popular play to earn games, Axie Infinity. over $2.89 billion worth of Axie Infinity Shards (AXS) are actually staked into Axie Infinity AXS betting contracts. This impressive achievement represents about 30% of the total circulating supply of AXS – rewarding each subscriber with more AXS.

    Skirmantas admits that DeFi Group has been dreaming about this huge success for a long time. Now, thanks to the NFT craze, it has become a reality.

    “We’ve spent years trying to pull people into blockchain DApps, it’s the games and NFTs that have done that, and they’ve done it in just a few months. new and old investors are now buying land, art, avatars, wearables, things with utility and passive income possibilities, rather than buying ICOs or backing projects they don’t tokens for projects they don’t necessarily fully understand.

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