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Gamefi Enjoys Good Run, Metacade a Top Platform: 2023 Report

In a recent report by DappRadar, the numbers for Gamefi look good. Among Web3 companies, Metacade is one of the best when it comes to on-chain games.

In early 2023, on-chain gaming activity bounced back from a difficult 2022, as reported by DappRadar\’s latest Games Report. Gala Games (GALA/USD), Axie Infinity (AXS/USD), Decentraland (MANA/USD), Floki Inu (FLOKI/USD), and many other established players in the game-fi industry have been driving the momentum.

A notable industry analysis report says that DapprRadar shows that Floki has taken the lead with a huge 380% increase, followed by Wemix with a 322% increase. This shows that the game-fic world is growing in a positive way. With this much potential, there is plenty of room for many players to get a big share of the market. Investors should think about putting together a portfolio that includes both well-known companies and new companies like Metacade, which are trying to bring something new to the industry.

Gamefi Shows Promising Numbers in DappRadar\’s Report

DappRadar says that on-chain data shows that gaming activity went up by 1.31 percent in January, with 858,621 daily Unique Active Wallets (dUAW) making up nearly half of all dapp activity. But these numbers are still small compared to the gaming industry as a whole, which has 2.69 billion customers around the world. People think that the gaming industry will make about $170 billion in 2022, which is five times more than what movies make at the box office. Some estimates say that by 2030, the gaming industry around the world could be worth $470 billion.

The question that arises is what role the cryptocurrency and blockchain industry will play in shaping the gaming industry\’s growth trajectory until the end of the decade. The Web3 gamefi industry has demonstrated its competitive edge against traditional video games and Defi as evident in DappRadar\’s several reports. Progress, new ideas, and investments in blockchain technology and cryptocurrencies back up this claim. The fact that Gala Games bought Ember Entertainment is a big deal that happened just in 2023. Also, Ember\’s games were added to Gala\’s layer 1 blockchain, Square Enix\’s NFT game was released, and part of Courtside Ventures\’ $100 million fund was set aside for gaming. Lastly, Metacade was able to raise about $9.3 million in five rounds of pre-sales.

Metacade Gamefi Platform

Metacade is different from other gaming companies because it offers a wide range of games to suit everyone\’s tastes. As a game-fic project, it lets people play games that let them earn money. It also has plans to become a full-fledged DAO by the year 2024. This will let the community use the MCADE token to take part in running the project. Players will also be able to earn tokens by completing tasks, taking part in player-versus-player sessions, writing reviews, and attending events.

The success of Metacade\’s presale rounds highlights the increasing enthusiasm among investors for new projects.In the sixth round of pre-sales, the MCADE token costs $0.017. It\’s a big jump from the $0.008 it was worth in the beta round. Investors who want to take part in the next round of Metacade should move quickly. As the presale process nears its end, the price is likely to go up even more. The coin will also be listed on major cryptocurrency exchanges like Bitmart and Uniswap. So, it is usually a sign that the coin could go up in value in gamefi and web3.

Metacade Achieves Balance between Gamers and Investors

Finding a balance between the needs of users and the needs of investors is hard because their needs are often at odds with each other. What is good for investors might not be good for users, and vice versa.

But Russell Bennet, who is the CEO of Metacade, seems to have found a way to meet the needs of both sides. During an interview with Dan Ashmore for the Invezz podcast, Bennet admitted that he had made mistakes in the past. Like putting out bad games quickly to keep up with the fast growth of the crypto industry as a whole.

Bennet is now running the business as a \”community-driven platform\” for the next two to three years. He wants to meet the needs of both users and investors.

Bennet said that the success of the MCADE token depends on having strong plans for how to make money. He said that Metacade is putting the token\’s usefulness first to make sure it will last in the gamefi world. It makes it stand out from other game-fic projects that had trouble getting to market because they didn\’t realize that revenue is a key part of balancing token economics.

When investing in the crypto industry, investors need to be picky, have patience, and think long-term. It is important because the crypto industry has been going through a lot of changes in the past few years. To do this, you need to pick a part of the crypto world that has been moving forward recently. Also, people need to do their research to make sure that these trends will last.

Web3 Gamefi Future

The game-fi sector exhibits strong potential for growth in the years to come. Even if it grows at the same rate as the traditional gaming business, investors can still make money. But investors must do their homework and look at the potential of both well-known companies and new ones, like Metacade in Web3. Metacade is popular among gamers, and it also has a bonus. Based on the background and experience of the CEO, it seems likely that investors will get a good return on their money.

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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.

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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.”

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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.

Gamefi and Blockchain Games Surpass Defi in Unique Active Wallets and Continue to Lead in 2023

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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

Defi Domain Struggles to Bounce Back

Blockchain Games and Rising UAWs

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.

Blockchain Games And Metaverse Projects Continue Growing

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Blockchain games brave the crypto winter like no other according to a recent report by DappRadar. Video games remain the silver lining amid a ferocious crypto winter storm as it is still active in the adoption of blockchain technology.

Moreover, it also gets embraced by venture capitalist firms and continues to get noticed by them. The industry data shows a lot of promise in blockchain games and the figures do not lie.

Blockchain Games And Metaverse Projects Continue Growing — Blockchain Video Games And Metaverse Projects Continue Growing

Blockchain video games continue to attract venture capitalists in the third quarter of 2022 despite the bear market. Among other digital assets, it’s the crypto gaming sector that is showing signs of long-term value as well as stability.

Alien Worlds and Splinterlands remain the two most played Web3 games, with over 160,000 daily UAW registered in September. Gameta, a gaming platform first deployed on Solana and now running on the BNB Chain, attracted over 1 million daily UAW in September.

According to the report by DappRadar, blockchain games and metaverse projects raised $1.3 billion in Q3 between July and September. The figure, when compared to last year’s investment accumulation in Q3, is double in number. However, when compared to Q2 of 2022, it appears a decline of 48%.

The standout domain in terms of investment is the Web3 metaverse projects and infrastructure which accounts for roughly 36%.

As for the blockchain games, the number of unique active wallets records an increase of 8% month over month reaching 912.000. Moreover, 7 out of 10 blockchain games confirmed an increase in unique active wallet addresses. There are more and more multiple blockchain games with truly immersive game mechanics that take entertainment to the next level. Even tough the haters keep hating, this is what we expected.

The total value locked also shows sign of recorvery with a 2.9% increase when compared to the previous quarter but it is not extraordinary as it is $250 billion less when compared to 2021.

The number of daily Unique Active Wallets (UAW) that interact with blockchain dapps rose 12 percent to 1.81 million on average.

DappRadar also notes that Web3 games continue to be the sole driving force for the dapp industry.

As for blockchain technology, Ethereum remains the leader in Q2 2022 with a share of 69% among other chains. It also recorded an increase of 3.17% accumulating to $48 billion.

The NFT domain sees a decline in the popularity of OpenSea Marketplace due to competition from new entrants; Magic Eden and X2Y2.

The impact of blockchain games is also visible in the NFT market, where Gods Unchained cracked the top 5 collections by trading volume in September with over $18 million generated by its game assets.

Key Takeaways

The number of unique active wallets in the blockchain gaming industry increased by 8% (912K) month-over-month, and its dominance remains over 48%.
Gameta, the new Web3 gaming platform on BNB Chain, became the most used dapp in September, surpassing PancakeSwap, with over 1.33 million unique wallets in the past 30 days.
In September, due to a P2E gaming tournament featuring significant in-game NFTs for winners, Benji Bananas, a game produced by Animoca Brands, had a rise in unique active wallets of over 2,400% from the previous month.
The Sandbox Alpha Season 3 has over 90 experiences, with 4 million people registered with a wallet, and over 200,000 daily active users.
Move-to-earn projects are gaining popularity and flourishing in this bear market. Sweat Economy minted a record-breaking 10,000 NFTs on Near Protocol, StepApp will be available for iOS and Android on December 1st and, OliveX, the digital fitness company that developed Dustland, collaborated with The Sandbox to develop the fitness Metaverse.
Blankos Block Party and Star Atlas, two online games using NFTs, became the first Web3 titles to be released on the major PC gaming marketplace Epic Games Store.
With over $18 million in sales in September, the digital collectible card game Gods Unchained climbed into the top 5 collections by NFT trading volume.
September’s investments were the lowest all year, only $156 million were raised by blockchain games and Metaverse-related projects. However, this month showed us that the industry never ceases to build.