- 52% percent of the total blockchain activity comes from blockchain games.
- Blockchain games have also raised $2.5 billion in investments.
- Financial firms estimate metaverse economic potential to become at least an $8 trillion market.
Blockchain games contribute 52% of the total blockchain activity, leading the whole dapp industry, reports market tracker DappRadar and Blockchain Gaming Alliance (BGA).
The Q1 2022 games report released on Wednesday revealed that blockchain gaming activity has spiked by 2000% versus last year. Despite having 1.17 million unique active wallets (UAW), a 2% decline from 2021, blockchain games attracted 1.22 million daily UAW last March.
Game dapps on the Ethereum sidechain garnered 114 thousand daily UAW on average during the first quarter. Later, the daily UAW spiked to 173 thousand in March. Meanwhile, BNB Chain’s numbers went down since last year. Even so, BNB Chain was still reported to be the third-largest network in blockchain gaming activity, attracting 165 thousand daily UAW.
DappRadar also reported the drop in Axie Infinity’s blockchain activity. However, it said that the recent Ronin attack was not solely to blame as the activity “was already in decline”. Registering only 22 thousand daily UAW in March, it can be remembered that the community has shared that Axie’s play-to-earn model is no longer working.
Moreover, the changes implemented by Sky Mavis contributed to the decline. Regardless, Axie still sits among the top 10 most played blockchain games based on daily usage, with 1.5 million daily active users.
The publication also highlighted that blockchain game projects also lead the dapp industry in investments, bagging a whopping $2.5 billion during the first quarter of 2022. The report also says that the number can increase 150% higher than last year if funding continues at this rate.
The game report listed big deals that include the $360 million raised by Animoca, the $450 million Sequoia Capital investment in Polygon, and the $450 million funding to Yuga Labs, among others.
Meanwhile, metaverse projects continue to gain momentum despite the declines in trading volumes. The DappRadar report cited financial firm Morgan Stanley’s estimation that the metaverse has the economic potential to become at least an $8 trillion market.