More than half of the overall blockchain industry activity in October came from gaming DApps.That’s the conclusion of DappRadar’s “State of the Blockchain Gaming Industry October 2021” report, which analyzes the activity and number of users of blockchain-based games last month.
According to the report, rising cryptocurrency prices and booming interest in metadata are responsible for the huge growth of the gaming industry, which averages more than 2 million unique active wallets (UAWs) per day.
Blockchain-based games have never been as popular as they are now
DeFi’s rise in popularity over the past few months has faded in comparison to blockchain gaming. According to a recent report from DappRadar, the number of uniquely active wallets (UAWs) connected to the game represents 55 percent of the total blockchain industry, maintaining the dominance that began in September.
While positive usage trends were seen across nearly all networks offering games, the largest growth was seen at Polygon. the Layer-2 solution increased its UAWs connected to games by 242% on a month-to-month (MoM) basis, a 982% increase compared to August. Despite a nearly 52% decrease in the number of DeFi-related transactions, game transactions doubled in October from the previous month, with more than 125,000 UAWs per day.
Much of this growth was driven by Arc8, a mobile game-money game from a subsidiary of Animoca Brands. The game shows that the blockchain will soon stop relying on DeFi as the right projects use Polygon as their core infrastructure.
Another key finding of the report is that virtual world games like The Sandbox and Decentraland are poised to become the real drivers of the gaming DApp ecosystem. Both games have seen their respective tokens triple since Facebook announced their name change to Meta Platforms, despite the lack of significant growth in activity on the platform.
Overall, the report found that virtual world dapps generated more than $21.8 million in transactions in October, a 31 percent increase over September’s numbers.