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A Round-Up of Play-to-Earn Games in May 2023 by DappRadar

DappRadar, a leading platform for tracking decentralized applications, has recently shared an eagerly-awaited list of upcoming Web3 games that are set to launch major updates in the coming weeks. As the adoption of Web3 continues to gain momentum, play-to-earn games are becoming increasingly popular among gamers. These games offer immersive experiences that allow players to earn cryptocurrencies while enjoying their favorite games. The trend has prompted game developers to prioritize the integration of blockchain technology into their products to meet the growing demand for play-to-earn games.

DappRadar\’s list of the most promising Web3 games for May 2023 is expected to generate significant buzz within the gaming community. The curated list includes a wide range of play-to-earn games that provide a captivating and rewarding experience for gamers. These games are designed to leverage the benefits of blockchain technology, such as transparency and immutability, to create a fair and secure gaming environment.

As the Web3 ecosystem expands, DappRadar\’s role in tracking the latest developments in the space has become increasingly important. The platform\’s expertise in identifying the most promising Web3 games has earned it a reputation as a trusted source of information within the blockchain and gaming communities. By highlighting the best Web3 play-to-earn games, DappRadar is helping to foster the growth of the Web3 gaming industry and promote the adoption of blockchain technology among gamers.

In this article, we take a closer look at some of the top Web3 games that are set to launch massive updates in the coming weeks, according to DappRadar. The list of games includes The Sandbox, Shrapnel, Splinterlands, Paradise Tycoon, Eternal Dragons, NFL Rivals, Kaidro, and DEFY. These games are all play-to-earn titles that offer exciting gameplay experiences and the opportunity for gamers to earn cryptocurrencies while playing.

Shrapnel

The Shrapnel web3 game has taken the world of \”play-to-earn\” by storm, and it looks like it will stay on top in 2023 as well. The game\’s non-fungible tokens (NFTs) were made by a team that won awards from BAFTA and Emmy. They let players own in-game goods and trade them with other players.

DappRadar talked about the start of the SHRAP token, which is used in the game Shrapnel. It seems like the right time to give this fun game a try. The many-sided SHRAP coin comes out as an ERC-20 token on May 1 and is then used on Avalanche. It will do more than just make PCC. It will stake and give in-game rewards, among other things. Also, it works as a gas token for Avalanche deals and as an exchange token on the Shrapnel market.

The Sandbox Play-to-Earn Game

The Sandbox gives players the chance to make money by using their many game skills. With SAND, the game\’s currency, players can build, trade, and sell properties. The better a player\’s idea works, the more SAND they can get. This play-to-earn game is a great way for Web3 gamers to get started and make money at the same time.

DappRadar says that this month, The Sandbox is holding a Mega City 3 Land Sale with more than 250 plots for sale. Players who buy premium plots will get a set of unique NFT things, like a CyberSword, a racing helmet, characters, and more.

Splinterlands

When you beat your opponents in the trade card game Splinterlands, you can get cryptocurrency. Dark Energy Crystals (DEC) can also be earned through fights with other players. You can trade it for other coins.

With Zyriel, the first Splinterlands card to have two parts and the Weapons Training ability, the Splinterlands team is putting out a new special card and some exclusive NFTs. For 80,000 DEC coins, you can buy one of 15,000 copies of Zyriel. But players who use vouchers will get a 50% deal that no one else will get.

Paradise Tycoon

On the Avalanche blockchain, the new and creative web3 multiplayer game Paradise Tycoon lets players create their own paradise. Even though the test Snapshot 5 came out in late April and the game is still in the test stages, there is a lot going on in it.

As players explore the green and peaceful areas around them, they can build tools, fix up their homes and beaches, and make and sell materials. There are no fights in this game, so players can just relax and enjoy the world around them.

Eternal Dragons

Eternal Dragons is a game built on the Solana blockchain that lets players earn Eternium for their accomplishments. The game just got a lot more fans after it came out on mobile devices at the end of April. It now has leaderboards for \”play and earn,\” which give players the chance to win prizes while putting their planning skills with their dragon NFTs to the test. The auto-battle, play-to-earn game Eternal Dragons just got a huge update that offers its loyal players a lot of new and exciting content.

NFL Riyals

In NFL Rivals, players take on the part of the general manager (GM) of a football team, make moves, and try to beat other teams. As NFTs, users will be able to buy, sell, and trade particular game characters, such as NFL players. They will use the free-to-play part of the game as well as the online marketplace for Mythical.

The beta start of NFL Rivals sent the internet into a frenzy, with 150,000 players and $1.6 million in NFT sales in just one day. With the initial release of NFL Rivals, Mythical Games hopes to reach a much larger group of people. They think that more than 10 million people will play the game this year. You should play it this year because it is licensed by the NFL, has an NFT trade feature, and is fun to play.

Kaidro

Kaidro just joined the ImmutableX blockchain platform. It raised an amazing $5 million for the game with a story. The brand has been developing for more than ten years and has gotten a lot of support from the community. One of the best people on Kaidro\’s team, which is also making a cartoon TV show, is the person who made Avatar: The Last Airbender.

DEFY Play-to-Earn

The near-future dystopian world of DEFY, which is built on augmented reality, is about to change the way augmented reality games are played.

The game\’s first 30 days on mobile were popular, with an average of 200 new players signing up every day and the average time spent playing being more than an hour. There is a unique mix of hacking, fighting, gathering, making, building, customizing, and flying in the game.

Overall, play-to-earn games will become more popular as Web3 technology becomes more common. The games we\’ve talked about so far offer different kinds of experiences, and DappRadar says that players can make money while playing. As the Web3 world changes, we can expect to see more new ways to make money by playing games. We think this list will definitely help you choose your best game, but there are some other games that are going to be huge this month.

For in-depth reviews of the Web3 games on this list, such as The Sandbox, Shrapnel, Splinterlands, Paradise Tycoon, Eternal Dragons, NFL Rivals, Kaido, and DEFY, check out our games section. Our in-depth reviews tell you about each game\’s mechanics, graphics, and play-to-earn features, as well as how appealing it is to players as a whole. Explore our games area to find out more about these exciting Web3 games and the latest trends in the Web3 gaming industry, which is growing quickly.

\"DappRadar — DappRadar recently highlighted some of the most epic web3 games to follow this month as play-to-earn games revolutionize video gaming.

Play to Earn Gaming News

Thank you for reading this PlayToEarnGames.com news story. We are the best place to find out what\’s new and exciting in the world of play-to-earn games. Our website has reviews, videos, and in-depth articles about the newest and most exciting P2E games for different platforms.

Our list of P2E games has been carefully put together by a team of experts, and we give you all the information you need to make the most of your gaming time. For the games you\’re interested in, you can find information about game tokens, white papers, and links to social media sites.

We are proud to keep our readers up to date on the latest changes in the gaming industry, such as blockchain, non-fungible tokens (NFTs), crypto, Web3, and metaverse games. Check out our \”Best Games\” and \”Game Lists\” sections to find the best P2E games and developers, or visit our \”Video Game News\” area for daily updates on what\’s going on in the gaming world.

Send us a press release if you\’re putting out a game or have news about PlayToEarn games. Our team of committed PlayToEarn Game news reporters will be happy to cover your event. Our website and reviews of video games should help you find the best play-to-earn (P2E) games. We\’re glad you came to PlayToEarnGames.com

Blockchain Gaming and Virtual Worlds Market Report April 2023: DappRadar

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The article gives insights into the Growth, Fluctuations, and Innovations in the Blockchain Gaming and Virtual Worlds Industry. Blockchain gaming experienced a slight decline in activity in April 2023 according to a recent report by DappRadar. The report suggests a 10% decrease in overall activity. However, blockchain games still accounted for 38% of on-chain activity, demonstrating their continued relevance and potential for growth. The emergence of new gaming chains such as Arbitrum and Immutable X, with Arbitrum experiencing a 118.36% increase in users and Immutable X witnessing an 8.88% growth, reflects the ongoing expansion of the blockchain gaming ecosystem. This growth will lead to further innovation and a wider range of gaming experiences in the future.

Popular Gaming Chains in April 2023

WAX is the most popular game chain right now, with more than 320,000 unique active wallets (UAW) being used every day. Polygon is in second place with more than 140,000 UAW, followed by Hive with about 86,000 UAW and BNB Chain with 82,000 UAW. Game makers and investors are both interested in Sui, a new blockchain network. Its price has already gone up by 3,800%, which is a lot. Sui is a good option for Web3 game developers because it takes a unique approach to on-chain assets and technical specs. Game designers like that it can process deals in parallel and scale horizontally to keep transaction fees low. Its NFTs can be updated in real time, and it uses a \”object-based\” model. Even though Sui is not compatible with Ethereum, it has gaming benefits that could make it popular with gamers in general. Sui is becoming more popular in the market, which is a good sign for the network\’s growth. It\’s because more Web3 game makers and players are going there.

Virtual Worlds Dapps

In April 2023, the number of trades and sales in virtual worlds dapps fell by 74%, as money moved towards meme coins like PEPE. Increased transaction costs and NFT traders selling their holdings at a loss to join the meme bandwagon were also factors in the drop. Otherdeeds for Otherside, which has a huge share of the market, saw its trade volume drop by 65%, to $34.7 million. But Otherside added a new tool that lets players convert their Otherdeeds into special NFTs and mint them. It separates the stories into the basic Otherdeeds and the expanded Otherdeeds. Even though the economy as a whole was going down, trading traffic in The Sandbox went up by 18.83% because of the Mega City 3 Land Sale. The sale was for more than 250 plots, and buyers of luxury plots could get special asset NFTs.

Epic Games Store and Blockchain Gaming

In the gaming business, blockchain gaming has become a promising new area in the past few years. The Epic Games Store\’s switch to blockchain gaming is one of the newest things to happen in this field. Epic Games opened the Epic Games Store in December 2018 as a digital store for PC games. It goes up against other online stores like Steam and GOG. The first blockchain game to be sold on the Epic Games Store was Blankos Block Party by Mythical Games. It came out in September 2022. Since then, the company has added 18 games to the part of its website for blockchain games.

This is an important move by Epic Games Store because it comes at a time when Steam has chosen not to let blockchain games on its platform. Epic Games Store is using this change to make money in the growing blockchain game industry. Even though CEO Tim Sweeney didn\’t want to use blockchain technology in its own games at first, the company has changed its focus to blockchain gaming. But the company now sees how blockchain technology could be used in games. Also, NFTs can be used to decentralize ownership of assets and create digital rarity.

Epic Games Store\’s move to blockchain games could lead to a big increase in sales. Also, bringing in a wider range of creators and gamers. In 2022, more than $7.6 billion was put into the blockchain gaming business. The investment shows that businesses that want to explore this space have a bright future ahead of them.

Investments in the Blockchain Gaming Industry

In recent years, a lot of money has been put into the blockchain gaming business. In April 2023, $421 million was put into metaverse projects and blockchain games. Bitkraft got $221 million for its second token fund, which shows that investors are still interested in the gaming business. Krafton and Naver Z gave $37 million to Migaloo and hope for it to become a joint venture based in North America. Scytale Digital put $20 million into Mythical Games, which will move its Mythical Chain to the Polkadot network and build a Mythos environment there.

These investments show that the blockchain gaming business has the potential to grow and change. As more investors realize how valuable blockchain gaming is, more money will be put toward making new games and projects in the metaverse.

In April 2023, the number of trades and sales in virtual worlds dapps went down, and money moved towards meme coins like PEPE. But despite the overall drop, trade volume in The Sandbox went up because of the Mega City 3 Land Sale, which offered more than 250 plots and special asset NFTs to people who bought premium plots. DappRadar says that Topia\’s trade volume went up in April 2023, after it had been slow because Minecraft wouldn\’t let NFTs or blockchains be integrated into the game.

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Web3 Game Investment Stats Q1 2023: DappRadar Report

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In recent years, the Web3 gaming business has seen substantial expansion and investment. The integration of blockchain technology and decentralized networks in gaming has created new opportunities for players and investors alike. The DappRadar report details a massive surge in blockchain games investment.

The release says that Web3 gaming projects have been able to get at least $739 million in investments for the first quarter of 2023. Also, $434 million, or 60% of the total investment amount, is raised in the month of March. Experts say that it looks like the best quarter so far. These analyses show that investments in Web3 and blockchain will move quickly. Web3 games that do well need to have good funding. About half of the March 2023 funding, or $214 million, was put into game and metaverse companies. Infrastructure firms were given an extra $159 million. Compared to the total funds, the $10 million that was put into NFT firms is like a drop in the bucket.

DappRadar report also highlights some astonishing trends waving in between the number of wallets and on-chain transactions over the last quarter. Surprisingly, the number of unique active blockchain wallets dropped to 9.7% compared to the previous quarter in 2022. Apart from that, blockchain gaming is continuously making moves with an average of 791474 daily Unique Active Wallets (dUAW). DappRadar reported an 8.58% decline in Q1 compared to last year. Gaming accounts for 45.6% of the total industry.

Key takeaways from DappRadar Statistics

Even though things are slowing down, blockchain games made up 44% of activity in March and 45% of activity in the first quarter of 2023. This is up from the fourth quarter of 2022, when blockchain games made up 42% of dUAW activity. This means that blockchain games are more valuable than other kinds of decentralized applications.

It shows how good the Web3 gaming business is and how much investors could make from it. DappRadar is a reliable way to track how well decentralized applications (DApps) work on different blockchain platforms. According to its report, venture capital firms and private investors are becoming more interested in putting their money into the Web3 gaming business.

The market for decentralized apps (dapps) went up and down in Q1 due to changes in on-chain indicators and the way the market moved. But the overall numbers are still good because the crypto space is full of new ideas.

DappRadar Top Blockchain Gaming Protocols

WAX, which stands for \”Worldwide Asset eXchange,\” is a blockchain technology that was made specifically for Web3 games and for making and trading NFTs (non-fungible tokens). It is based on the EOSIO blockchain technology and is known for how quickly it works, how long it lasts, and how little it costs to make a transaction. In March, wax made up an average of 314000 dUAW, or 42% of the whole volume. It is, though, 8% less than the month before.

Polygon (Matic Network) is a layer-2 scaling system for Ethereum that allows operations to be done faster and for less money. It is a popular solution for Web3 game developers who want to build on Ethereum but need to cut gas fees and speed up transaction times. Polygon is now the second busiest network, ahead of Hive. In March, Polygon averaged 138,000 dAUW, which was 53% more than in February. BoomLand and Planet IX\’s Hunters On-Chain are partly to blame for this growth.

Hive is getting worse, with an average of 27% less dUAW than in February. The fact that 99% of protocol activity is controlled by Splinterlands shows how important the game\’s success is to Hive.

Notable Blockchain Games of the Month

Alien Worlds is a well-known blockchain game with a strong community and a growing number of users. Alien Worlds still has the most unique active wallets of any blockchain game, with 580,000 in March 2023. In the first three months of 2023, it was still the most-played blockchain game.

Last month, there was more dUAW in Hunters On-Chain, Planet IX, and Yuliverse. Hunters On-Chain came out in March, while Planet IX grew by 708% and Yuliverse grew by 2,656%. Plant IX and GAMEE, which is part of Animoca Brands, have signed a sponsorship deal. But Yuliverse said that people who owned OG NFTs would get special benefits, which most likely made people want to trade.

Overall, the report shows that people are doing more things in virtual worlds. At the end of the quarter, trade in virtual worlds was worth $350 million, which was the most since Q2 2022. DappRadar said that more than 67,000 pieces of virtual land were bought in March, which was about half of the total of more than 143,000 for the quarter. This good report from DappRadar gave us useful data to help us understand how the market is changing, and we hope that people will find this information useful. They will learn a lot about Web3 and blockchain and be able to take advantage of new investment opportunities in these areas.

Play to Earn Gaming News

Want to know the most profitable (P2E) games to play? We provide reviews of video games on our website. Our large collection of P2E games was carefully put together to give you all the information you need.

Add details on the game\’s kind, platform, tokens, white papers, and social media links. On our website, you can find the latest gaming news, game trailers, and in-depth reviews. We are pleased to provide you with daily news updates on the most recent play-to-earn, P2E, blockchain, non-fungible tokens (NFTs), crypto, Web3, and metaverse games.

Find the top P2E games and developers by browsing our \”Best Games\” and \”Game Lists\” sections. If you want to know what\’s going on in the gaming industry, check out our \”Video Game News\” section daily.

If you are launching a game or have news regarding PlayToEarn games, please send us a press release. Our PlayToEarn Game news reporters will cover the event. Our website with video game reviews will assist you in locating the top play-to-earn (P2E) games.

DappRadar Report January \’23

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The Blockchain Gaming Industry Bullish in January 2023,DappRadar Reports

Video games and gamers constitute almost half of all the activity on blockchain technology in the last month of the new year. This new metrics report by DappRadar shows that blockchain gaming is pretty bullish at the moment thanks to several reasons. With the advent of technology, the world of gaming has also evolved. In recent years, blockchain gaming seems to be the first choice for many investors in the gaming industry. This new technology has the potential to transform many industries. In addition, blockchain gaming has enhanced user experience by offering a reliable, secure, and transparent way to perform digital transactions. This trend has progressed in a variety of ways, from letting players design their own characters, themes, and even gameplay.

Despite a challenging 2022, the blockchain sector has made a promising start in 2023. One of the leading industries taking a lead this year is blockchain gaming. A recent DappRadar report uncovered some interesting trends regarding the growth of blockchain gaming and funding.

Gaming Tokens Bullish in 2023

In the last month, gaming tokens gained an impressive surge, showing positive signs for the industry. Blockchain gaming activity as estimated by on-chain data increased by 1.31% in January, with 858,621 daily Unique Active Wallets (dUAW) accounting for 48% of dapp activities. Furthermore, the market value for top-performing gaming tokens saw a massive increase of 122% on average. The digital utility token of the Gala Games (GALA) also surged by 218% of its actual value.

ApeCoin and SAND Leads

Among these tokens, ApeCoin remins a dominant player with a market value of $2,112,042,188 as of January 31 and an increase of 51.99% from January 1. SAND is closely following with a market capitalization of $1,254,095,738 and a gain of 86.64%.

GALA Shows a Lot of Potential

The report claims that as industry hype hits general audiences, demand for those gaming tokens is increasing. For instance, Gala Games earned recognition after acquiring a new mobile gaming firm with 15 titles and $20 million in assets managed. As a result, the Gala blockchain network now has a considerably larger user base. Also, a Gala Music artist received a Grammy nomination, which increased awareness of the network. Cryptoslate suggests that FLOKI is currently one of the year\’s top-performing gaming tokens. Despite the fact that the coin has gained 239% over the last 30 days, it is still 88% below its all-time high.

MAGIC Records Increase

MAGIC has also experienced a boost with the hype around TreasureDAO. The goal of this new system is to unite producers, collectors, and fans in a special environment that will be beneficial for them. The gaming industry has responded favorably to the idea, which has assisted in raising the value of MAGIC.

Avalanche\’s AXS Gains Ground

Last but not least, AXS is making ripples with the start of Homeland and Axie Origins Season 2. These actions have increased the AXS blockchain network\’s accessibility and sparked interest among both investors and gamers.

Blockchain Analyst Highlighted the Growth

Sara Gherghelas, a blockchain analyst at DappRadar, told Cointelegraph that it is safe to predict blockchain games will remain to be an evolving segment in the industry based on on-chain data from the previous two years.

“This is because blockchain gaming is already a vertical in the traditional industry. As blockchain gains more traction, it will bring more adoption to Web3 games which will become mainstream.”

Because of the buzz surrounding the Yuga Labs ecosystem, ApeCoin has experienced a rise in demand. Another high point for the NFT giants was the Sewer Pass debut in January. To play the skill-based game Dookey Dash, you need the Sewer Pass.

Report Summary

To summarize our analysis, blockchain gaming has collectively raised $156 million from 10 investments in the industry. Courtside ventures became the most notable investor with a total of $100 million for its third early-stage capital fund. It would be correct to say that consistent funding has prepared the ground for a significant boost in 2023.

This year appears to be a recovery period for the blockchain industry after a challenging time. Investors are now backing studios that have a track record of developing Web3 games, and they are planning for the future up to five or ten years ahead. In 2023, the blockchain gaming market will experience a change in plan that will give developers new challenges and opportunities as players and investors place a higher priority on quality than quantity. The future looks promising, and we believe that the blockchain gaming sector will continue to develop and advance.

Play to Earn Games News

Looking for the best play-to-earn games? Look no further than our video game review site. Our large collection of P2E games has been looked over and has all the information you need. From genre and game platform to tokens, whitepapers, and Discord and Twitter social media links, we have it all. In addition, we offer game trailers for each game, as well as game videos where we provide in-depth reviews. We pride ourselves on being up-to-date, and offer daily updates on the latest news in the world of video gaming. You\’ll find everything you need to stay informed about your favorite play-to-earn, blockchain, NFT, crypto, P2E, Web3, or metaverse games. Check out our Top Games and game lists to discover the best play-to-earn games. And don\’t forget to read our fresh daily game news to stay up-to-date on the latest developments in the world of gaming. With our video game review site, you\’ll have everything you need to explore, discover, and enjoy the best P2E games out there. If you have PlayToEarn Game News, please contact us. If you are launching a game, or have PR around a new game, send it and our PlayToEarn Game news writers will cover it.

Game Activity Blockchain: DappRadar

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The bullish run continues in the blockchain gaming sector and we have a report to back it up. The first month of 2023 flew by in a wink but the Web3 gaming sector has utilized it to its fullest. According to market analysis firm DappRadar, gaming accounted for 48% of all blockchain activity in January, a rise from 45% in the previous month of December. In January 2023, the number of daily unique active wallets in gaming reached 839,436. The numbers indicate that many users made transactions in blockchain games during the month.

DappRadar Report on January 2023

According to DappRadar\’s latest report, the growth in gaming activity is a positive sign for the long-term prospects of blockchain gaming. However, the low number of users suggests that blockchain gaming still has a long way to go before it becomes widely adopted.

The report read, “The game alphas and updates keep coming in the blockchain space, and there is a growing sense of excitement and anticipation for what the future holds.” “As the sector continues to mature, we can expect to see even more exciting developments in the months to come.”

The outlook may appear optimistic, given the current state of the cryptocurrency market and the global economic recession. Nevertheless, relative to the challenging conditions of 2022, it is time for some optimism in the blockchain gaming industry. There is a possibility that the situation may be improving.

According to DappRadar, the start of 2023 has been marked by a bullish trend, especially in the NFT market. The significant growth and increased activity in on-chain metrics indicate a thriving and promising quarter for NFTs. The total value locked in blockchain protocols (DeFi TVL) reached $74.6 billion, a rise of 26.8% from the previous month.

The NFT Market Recovery

The NFT market saw $941 million in trading volume and 9.2 million in sales count. Polygon was the standout performer, with a 124% increase in trading volume and 157.39% increase in sales count. This was driven by the popularity of its NFT collections such as Collect Donald Trump Cards and the launch of Mocaverse Realm Ticket Pass.

Opensea saw a 66.58% rise in trading volume, reaching $495 million in January 2023, which accounts for 58% of the total NFT market trading volume. Additionally, the amount lost due to exploits in January 2023 was $14.6 million, the lowest recorded since January 2022. DappRadar views these data points as evidence of a recovery.

The NFT market showed signs of recovery in January 2023 with a boost in NFT trading volume and sales count. The NFT trading volume recorded a 37% increase from the previous month, reaching $941 million, which is the highest recorded since June 2022. The sales count of NFTs also rose by 38% from the previous month to 9.2 million.

Ethereum continues to lead the NFT market with a market dominance of 78.5%. Its trading volume saw a significant increase of 37.29% in January 2023, reaching $659 million. Additionally, the sales count of Ethereum-based NFTs rose 7.37% from the previous month to over 2 million. The growth of the Ethereum ecosystem is largely attributed to the success of Yuga Labs\’ NFT collections, particularly the highly popular Sewer Pass access pass NFT for an online game.

Unique Active Wallets Stats January 2023

In January, the number of active gaming wallets increased, however, the number of daily unique active wallets decreased, falling 9.55% to 1,730,542 in comparison to December.

In January, WAX was the most widely used blockchain. The gaming and NFT blockchain saw an average of 394,480 daily unique active wallets, a rise of 3.39% from the previous month. The top dapps on the WAX blockchain were the blockchain game Alien Worlds and the NFT marketplace Atomic Assets.

Polygon came in third place with 191,985 daily unique active wallets. Despite making a significant impact late in 2022, the blockchain ecosystem saw a 5.22% decrease from the previous month. The most popular dapps on Polygon were Benji Bananas and Planet IX.

Planet IX had a successful month, experiencing a 44% increase to reach 141,580 daily unique active wallets. Hive came in fourth place, seeing a 12.31% rise to reach 182,800 daily unique active wallets. The trading card game Splinterlands dominated the activity on Hive. It saw a 5.87% increase in its daily unique active wallets, reaching 340,520.

Solana Blockchain Recovers

In January, the best-performing blockchain was Solana. It experienced a 70% increase, it reached an average of 53,683 daily unique active wallets. The growth was driven by the growing usage of Solana DeFi dapps such as Raydium, MeanFi, Saber, and Orca. According to DappRadar, it appears that the Solana ecosystem is recovering from the impact of the FTX collapse. This could mean a lot of positives for blockchain games.

Solana experienced a 57.33% growth in its total value locked (TVL) to reach $548 million, according to the latest analysis. The success of Marinade Finance, whose TVL rose by 84.32% over the previous 30 days to $152 million, helped to drive this growth. Users who deposit Solana (SOL) tokens with mSOL, a liquid staking derivative, are rewarded as part of a token incentive scheme launched by Marinade Finance. Additionally, Orca and Raydium saw gains in their TVL of 37% and 33%, respectively, for a total of $46 million and $38 million in TVL growth.

Ethereum Blockchain and UAWs in Blockchain Games

The daily average number of unique active wallets in the Ethereum ecosystem in blockchain games increased by 39% to 116,255. This surge comes from the growing popularity of NFT marketplaces like OpenSea and Manifold plus increased activity on these platforms.

Ethereum\’s move to Proof-of-Stake (PoS) has sparked a growing interest in staking solutions, and Lido has seized the opportunity. Its fee revenue has closely aligned with Ethereum PoS earnings, as it directs the received ETH to the staking protocol

Although the overall daily unique active wallets in the industry decreased, NFT\’s on-chain metrics indicate increased activity. It is a positive sign for the market.

OpenSea Remains the Leading NFT Marketplace for Blockchain Games

OpenSea maintained its lead in the NFT market with a 66.58% surge in NFT trading volume. It topped reaching $495 million in January 2023. This dominance of the NFT space was evident with OpenSea accounting for 58% of the total NFT trading volume. The trading volume and the 2.5% transaction fee charged by OpenSea resulted in an estimated revenue of $12.3 million.

DappRadar Concludes About Blockchain Games

“In conclusion, 2023 has started on a high note, with bullish on-chain metrics in the DeFi and NFT markets,” DappRadar said. “The decrease in money lost this month due to exploits, the lowest amount ever recorded in 2022, is a positive indication of the increase in blockchain security.”

“The upward trend in the NFT market and the growth of DeFi platforms give us reason to be optimistic about the future of the crypto market. With these promising developments, we can expect a recovery and continued growth in the coming months.”

Play to Earn Games News

Welcome to PlayToEarnGames.com! Your ultimate destination for all things gaming. Here you will find game reviews, daily news updates, and an extensive list of the latest games. Our goal is to keep you informed and entertained. If you have a game or exciting news that you would like to share, we encourage you to reach out to us. Stay tuned for daily updates and be sure to check back often for new additions to our growing list of games. Let\’s play and earn together!

Professionals & blockchain

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The BGA Member Survey Report for 2022 has been released, providing a comprehensive overview of the blockchain gaming industry. The survey results indicate that gaming professionals in the field have a positive outlook on blockchain gaming, despite the current downturn in the cryptocurrency market.

The survey sample population included BGA members, such as game industry professionals, gaming studios, venture capitalists, cryptocurrency exchanges, guilds, service organizations, and members of the blockchain gaming community.

The BGA member survey, conducted annually, is consistent with the previous year\’s BGA survey. The majority of survey participants were young individuals, with nearly 90% expressing confidence in their continued involvement in the blockchain gaming industry in the upcoming year.

The survey also delves into the factors driving the blockchain industry and identifies the challenges faced by industry professionals.

Key Takeaways

89% of survey participants plan to continue working in the blockchain gaming industry in the coming year.
36.5% of survey participants believe that advancements in gameplay will drive the growth of the blockchain gaming industry.
40% of survey participants see lack of education and misconceptions about blockchain gaming as a major challenge facing the industry.

Key Changes in the Game Industry

The survey observed a significant increase in the number of respondents from Asia, who made up over 55% of the total. Additionally, the majority of survey participants were in the age range of 25-34, comprising two-thirds of the total respondents. Many of these industry professionals had recently joined blockchain gaming projects, accounting for nearly 50% of the respondents.

Why is blockchain gaming beneficial?

The survey posed a common question to industry professionals, asking about the true benefit to gamers provided by blockchain gaming. Nearly 69% of respondents believed that digital asset ownership was the primary benefit, with player reward models and new revenue models coming in second and third with 35.2% and 34.3% respectively.

The survey found that older respondents tended to view digital asset ownership as the key benefit of blockchain games. It is noteworthy that 60% of the participants were associated with gaming studios or guilds. The majority of the professionals work exclusively on blockchain games, while 26% are involved in both Web2 and Web3 projects, and only 4% are traditional game developers.

DappRadar\’s take on 2022

As reported by DappRadar, video games continue to be a driving force for Web3, despite the current crypto market downturn. The statistics demonstrate this, as more than 50% of all on-chain activity is related to gaming, with 1.13 million Unique Active Wallets connecting to Gamefi on a daily basis.

On-chain gaming transactions also saw an increase of 37% YoY, reaching 7.4 billion. Furthermore, fundraising for blockchain-based gaming projects also saw a 59% increase in 2022, amounting to $7.6 billion. The statistics indicate that blockchain-based gaming projects have demonstrated resiliency throughout the year 2022.

The play-to-earn mechanics may decrease due to the crypto bear market, and this may lead to the emergence of new free-to-play Web3 games that focus on both earning and owning. Thus, 2023 is likely to be a transformative year for Web3 games.

What is stopping Web3 games’ mainstream adoption?

Despite the blockchain gaming industry\’s strong performance in 2022, mainstream adoption of Web3 games still has a long way to go. Over 51% of respondents believe that onboarding new gamers and accessibility are the biggest challenges facing the industry.

37.2% of respondents identified poor gameplay as an issue, and 28.5% believed that the main challenge lies in educating the public about the concept of blockchain. This lack of education seems to be a valid concern as it is a critical aspect for the industry\’s growth.

The majority of respondents believe that the misconception of blockchain games being scams is the biggest problem facing the industry. The percentage of people considering games as scams increased from 59% in 2021 to 69.5% in 2022.

When considering the challenges faced by organizations, the survey identified a list of challenges. The respondents ranked the top 10 challenges, with the most significant challenge for organizations being FUD (fear, uncertainty, and doubt).

FUD (fear, uncertainty, and doubt) is a term that has long been associated with the crypto industry. In addition to FUD, marketing and brand awareness were the second biggest challenge at 26.8%. Companies with fewer than 50 employees identified lack of funding as a significant concern.

What will drive the future of blockchain games?

When looking to the future, 35.7% of respondents believe that advancements in gameplay will drive the industry forward. 30.3% of respondents think that Web3 adoption by traditional gaming studios is crucial, and 26.2% believe that the involvement of major gaming franchises will be a deciding factor for mainstream adoption.

Check out our beginner’s guide on How to Create your first NFT. Dont forget to subscribe to our YouTube Game Channel with lots of video game reviews.

More than 89% of gaming industry professionals will continue to work in blockchain gaming despite the \”Raging Crypto Winter,\” according to a survey report.

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The survey also delves into the factors driving the blockchain industry and identifies the challenges faced by industry professionals.

Key Takeaways

89% of survey participants plan to continue working in the blockchain gaming industry in the coming year.
36.5% of survey participants believe that advancements in gameplay will drive the growth of the blockchain gaming industry.
40% of survey participants see lack of education and misconceptions about blockchain gaming as a major challenge facing the industry.

Key Changes in the Game Industry

Why is blockchain gaming beneficial?

DappRadar\’s take on 2022

What is stopping Web3 games’ mainstream adoption?

What will drive the future of blockchain games?

Check out our beginner’s guide on How to Create your first NFT. Dont forget to subscribe to our YouTube Game Channel with lots of video game reviews.

More than 89% of gaming industry professionals will continue to work in blockchain gaming despite the \”Raging Crypto Winter,\” according to a survey report.

Leave a Comment

The survey also delves into the factors driving the blockchain industry and identifies the challenges faced by industry professionals.

Key Takeaways

89% of survey participants plan to continue working in the blockchain gaming industry in the coming year.
36.5% of survey participants believe that advancements in gameplay will drive the growth of the blockchain gaming industry.
40% of survey participants see lack of education and misconceptions about blockchain gaming as a major challenge facing the industry.

Key Changes in the Game Industry

Why is blockchain gaming beneficial?

DappRadar\’s take on 2022

What is stopping Web3 games’ mainstream adoption?

What will drive the future of blockchain games?

Check out our beginner’s guide on How to Create your first NFT. Dont forget to subscribe to our YouTube Game Channel with lots of video game reviews.

More than 89% of gaming industry professionals will continue to work in blockchain gaming despite the \”Raging Crypto Winter,\” according to a survey report.

Leave a Comment

The survey also delves into the factors driving the blockchain industry and identifies the challenges faced by industry professionals.

Key Takeaways

89% of survey participants plan to continue working in the blockchain gaming industry in the coming year.
36.5% of survey participants believe that advancements in gameplay will drive the growth of the blockchain gaming industry.
40% of survey participants see lack of education and misconceptions about blockchain gaming as a major challenge facing the industry.

Key Changes in the Game Industry

Why is blockchain gaming beneficial?

DappRadar\’s take on 2022

What is stopping Web3 games’ mainstream adoption?

What will drive the future of blockchain games?

Check out our beginner’s guide on How to Create your first NFT. Dont forget to subscribe to our YouTube Game Channel with lots of video game reviews.

Gamefi, Blockchain Games Surpass Defi

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It is true that the blockchain and the crypto industry as a whole suffered a lot in 2022. When compared year on year, the figures dropped dramatically. But Gamefi is one part of blockchain technology that continues to get investment, traction, and a big jump in the number of unique wallets that are active. The upward trajectory for the blockchain gaming sector was witnessed in Q4 of 2022. Also, it stays the same in the first month of 2023, but the question is whether or not the hype and traction keep going in this direction. On the other hand, we think that Defi applications and projects will take a big hit and keep getting worse until 2023.

By the beginning of 2023, the blockchain gaming industry will have more than twice as many unique active wallets as Defi.

Blockchain Games Leading the Way

Blockchain gaming is a new area where people get paid for the time they spend playing video games. The rewards have a value in the real world and can\’t be used, so they can be traded for money. So, the main difference between traditional gaming and blockchain gaming lies in the model of business. In developing countries, particularly in Southeast Asia, the blockchain gaming industry has grown rapidly. It is the business model of \”play to earn\” or \”play and own\” that stands out. This is a big part of why these games still do well even though the Defi industry is still having trouble.

Also, some of the best minds and developers in the industry continue to work together to make AAA blockchain games. The introduction of AAA games, along with strong collaborations between artists, influential figures, and game developers, will result in mass adoption. There is a lot of activity going on in blockchain gaming when we look at the number of unique active wallets. However, Defi failed to bounce back after some of the unfortunate incidents that happened last year.

Defi Domain Struggles to Bounce Back

The year 2022 was filled with ups and downs. The war in Ukraine, the Terra Luna Crash, the Ethereum Merge, and then the FTX Crash were all big events that had a big impact on the crypto and blockchain industries. There were many Defi apps that had to head toward the exit. The blockchain gaming industry, on the other hand, aided decentralized apps in gaining some positives.

If we analyze the events of 2022, the decentralized space saw a gradual decline. The Terra Luna event impacted the space heavily, and the rest was done by the FTX collapse. The total value locked in Defi dropped dramatically. At the start of 2022, the TVL was almost $150 billion, which took a nosedive after the events and stood at almost $40 billion. The Terra Luna Crash saw Defi, as well as UAWs, decrease considerably. But UAWs improved at the end of the year, while Defi continued to suffer.

As early as January 2022, careful speculation was made by DappRadar’s executive about Defi apps. The executive told BeInCrypto that as many as 80% of Defi apps could exit the industry if the bear trend continues throughout the year, which it did.

Blockchain Games and Rising UAWs

Blockchain games sure did see a bit of a decline after the Terra Luna crash, but they didn’t deviate much from their trend. It still accounts for an average of 1.15 million daily UAW, showing a lot of activity in the blockchain gaming space.

Dapp Radar’s Pedro Herrera said, \”While [decentralized finance] and overall blockchain activity have been on the downside, the game of Unique Active Wallets (UAW) continues to rise, reaching almost 1 million daily wallets.\”

When we compare the number of unique active wallets between Gamefi and Defi, gaming has more than twice as many as Defi. At the end of 2022, Defi had approximately 2.0 million UAWs, while Gaming had 5.0 million. Some of the top blockchain games that attracted new wallets in 2022 are: Splinterlands, which topped the chart with over 300,000 UAW over a week; Alien Worlds; Benji Bananas; Farmers World; Planet IX; Upland; and more.

If you want to read the key points of DappRadar, here we go:

Key takeaways DappRadar

The dapp (decentralized application) industry experienced a 50% increase in unique active wallets (dUAW) in 2022, rising from an average of 1.58 million daily dUAW in 2021 to 2.37 million in 2022 on average. However, the industry has been on a downward trend due to various events, including the war in Ukraine, the collapse of Terra Luna and the FTX situation. Despite these challenges, the dapp industry has demonstrated its resilience and maturity, while adoption of blockchain technology by consumers and businesses suggests that the future of the industry is bright.
In 2022, the DeFi industry faced challenges including the collapse of the Terra Luna platform and a decline in cryptocurrency prices, leading to a significant drop in the Total Value Locked (TVL) of 73.97% falling to $55 billion in December. Amidst these difficulties, the DeFi sector continued to expand and innovate, with smart contract financial apps and traditional financial institutions piloting or transacting using DeFi protocols.
Ethereum remains the dominant DeFi protocol with $32.12 billion in TVL, a 74.56% reduction. BNB Chain has reclaimed its position as the second-largest DeFi ecosystem, with a 62.50% decrease, reaching $6.5 billion. Layer-2 solutions appeared to be the least affected by the crypto turbulence, with Arbitrum falling 12.07% to $1.74 billion. Optimism’s TVL increased by 127.60%, hitting $669 million.
On-chain metrics for the NFT market this year seemed to be positive, as the NFT trading volume in 2022 increased by just 0.41% in comparison with 2021, with an average ETH price of $2,015. Looking further, the number of unique traders count increased by 876.89% compared to the previous year, reaching 10.6 million. The sales count is on the same upward trend, with an overall of 10.16% increase this year, reaching 68.35 million.
The NFT blue-chip collections have remained the most traded collections this year, and continue focusing on their roadmap. Azuki became the first NFT brand to appear on an F1 racing car. VeeFriends closed a $50 million seed round in July, while PROOF’s Moonbirds raised another $50 million in August to scale the brand further.
Yuga Labs continued to expand, acquiring CryptoPunks, Meebits and the NFT startup WENEW Labs. Its NFT collections dominated the NFT market cap in Q4, representing 55% of the top 100 most valuable NFT collections, which amount to $15 billion.
This year saw the entry of new participants into the NFT marketplaces industry. X2Y2 climbed the charts, becoming in a year one of the top 10 NFT marketplace by trading volume, making more than $1.5 billion in trading volume. On the same trend, Blur, which was launched in October, reached in two months the last place in the top 10 NFT Marketplaces by trading volume, in 2022, with more than $205 million in trading volume. However, Opensea has not lost its dominance and, even if sales volumes have dropped in the past month, still accounted for 73.1% of the whole NFT organic trading volume.
Blockchain games in 2022 account for 49% of all dapp activity, with on average 1.15 million daily unique active wallets, and 7.4 billion in transactions count. Splinterlands remains the most popular game with 217,914 monthly unique active wallets in 2022, an 85.78% growth. Alien Worlds was second with 178,118 monthly unique active wallets, down 3.67%.
In 2022, there were 312 crypto attacks, resulting in losses of $48.74 billion, the highest for any year. The Terra Luna scandal was the most significant of these attacks, causing losses of $40 billion. Excluding this event, the median loss per hack was $283k and total losses per month were $728 million. Centralized platforms were the most commonly targeted, with losses totaling $44.71 billion. The BNB and ETH chains were the most hacked, with rug pulls being the most common type of attack.
In 2022, there were significant developments in the regulatory landscape for cryptocurrencies and other digital assets, with the introduction of the first White House bill for crypto regulations and the MiCA regulation in Europe. These rules and laws aimed to establish a comprehensive framework for the regulation of cryptocurrencies and other digital assets, and demonstrated a recognition of the growing importance of blockchain technology.

However, the question remains if this trend will continue this year for blockchain games. With the number of AAA games under development and some launching this year, the trend may as well continue to ride the bull. Keep visiting us for more on blockchain gaming news, and check out game reviews on our YouTube. One of the most promising MMORPG AAA blockchain games under works is Mirandus.