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As the FTX collapse continues to push the crypto market into loss territory, DappRadar says one sector of the industry has been largely unaffected by the turmoil.
new report, The data acquisition and analytics firm says the blockchain gaming sector continues to be the driving force behind the decentralized application (DApp) industry.
In October and November, gaming activity accounted for nearly half of all blockchain activity tracked by DappRadar across 50 networks, and 800,875 unique active wallets (UAW) were accounted for by Gaming Smart in November. I was interacting with the contract.”
Blockchain games have raised more than $320 million, according to DappRadar, as FTX, formerly the second largest exchange platform in the industry, filed for bankruptcy in November.
During that period, the average number of unique active wallets per day for the Web3 Games sector decreased by 12% to reach 800,875.
Blockchain gaming activity was resilient in November despite the collapse of FTXit remains the most important part of the industry, accounting for 42.67% of all blockchain activity. Loss of dominance is driven by the rise of DeFi [decentralized finance] A sector in the middle of an FTX meltdown.
The report notes that 2022 will see a flow of partnerships and investments in blockchain games, with September hitting a one-year low.
We are observing an upward trend in investment in blockchain games. September was the month with the lowest investment in blockchain games, with more value flowing into startups and promising projects. It continues to increase from
As to why the sector hasn’t rocked against the backdrop of the FTX implosion, DappRadar says those entering the crypto space through games and NFT channels have no particular interest in collapsed centralized exchanges. .
Unless their tokens are held in FTX, their tokens must be held in a blockchain wallet, given that most blockchain games have internal marketplaces and staking options for players. Gamers may be unknowingly learning Web3’s toughest lesson: it’s not a key, it’s not a cipher.
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