DappRadar: Blockchain Gaming Activity Hardly Affected by FTX Crypto Blast

by Arthur · December 1, 2022

Kaunas, Lithuania

–News live–

DappRadarthe global dapp store, said today in a report The blockchain gaming sector showed strong resilience throughout the month of November, despite negative pressure on the broader crypto industry resulting from the collapse of the once-popular FTX cryptocurrency exchange.

Blockchain games brought almost half of the blockchain activity

DappRadar’s latest Blockchain Games Report shows that blockchain gaming activity largely managed to brush off the events at FTX. The number of daily unique active wallets (UAWs) averaged 800,875 in November, down slightly from just over 900,000 UAWs in the previous two months. Overall, blockchain games accounted for a healthy 46% of all blockchain activity, ensuring that it remains the largest segment in the overall crypto space, ahead of decentralized finance.

The most popular blockchain for gaming was once again Wax, which actually saw an increase in daily activity with an average of 344,284 daily UAWs in November, up more than 4% from October. BNB Chain was the second most popular gaming protocol in October with an average of 171,269 dUAW, but took a big hit in November and the number dropped by 35%. Hive took BNB Chain’s place as the second most popular gaming protocol in November, which was also down from last month by 8%, but maintained an average of 156,369 dUAW this month.

However, there were a number of blockchains that suffered as a result of the fallout from the FTX collapse. In particular, betting on the Solana blockchain – which was closely linked to FTX – seems to have taken a big hit. November saw that game activity drop by a stunning 89.42% to just 2,326 daily UAWs, the lowest number it has recorded so far.

Top rated games pick up speed while metaverse shows take a hit in sales

Most of the games that rank in the top ten in terms of users have performed strongly throughout the month. For example, the wax-based Alien Worlds managed to increase its user base by an impressive 25% to emerge as the most played game of all, with 212,000 dUAWs. Splinterlands came in at number two with 169,000 dUAWs, up 5% from last month,

November was also a busy month for metaverse players, with The Sandbox completing one of its most hyped events to date, Alpha Season 3, with more than 353,000 unique users across 98 brand-generated experiences. While The Sandbox saw its NFT trading volume drop by around 33% last month to just over $1 million, it ended the month by announcing another large lot sale.

The upcoming sale promises to be a big event, with The Sandbox set to auction off 1,967 LANDS, including 50 estates, 695 regular LANDS, 134 premium LANDS and 19 one-of-a-kind LANDS. Both standard and premium LAND sales will be awarded via a blind voting system. The sale actually started on November 24th and will continue until early in the New Year, so don’t be surprised to see a significant increase in The Sandbox’s trading volume next month.

Another popular metaverse, Decentraland, also witnessed a decline in November, with trading volume down 54% and sales down more than 23%.

The decline in metaverse land sales is almost certainly a consequence of what is happening on FTX, which helped accelerate a decline in land trade volume that began in July. It will be interesting to see if the new LAND sale at The Sandbox can help stop the slide or not.

Despite the decline in metaverse sales, the health of the blockchain gaming space looks positive overall, especially if the amount of cash being thrown at it from investors is anything to go by. The report notes that blockchain games and metaverse projects raised $534 million in new funding throughout November. The highlight of the month was Web3 game publisher Fenix Games, which raised a hefty $150 million a month to acquire, invest and distribute its portfolio of blockchain games.

About DappRadar

Founded in 2018, DappRadar is The World’s Dapp Store: a global decentralized application store (dapps), making it easy for its base of more than 1 million users per month to track, analyze and discover dapp activity via the web platform. The platform currently hosts more than 12,000 dapps across 49 protocols and offers a wealth of consumer-friendly tools, including comprehensive NFT valuation, portfolio management and daily industry-leading, actionable insights.

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Founded in 2018, DappRadar is The World’s Dapp Store: a global decentralized application store (dapps), making it easy for its base of more than 1 million users per month to track, analyze and discover dapp activity via its online platform. The platform currently hosts 9,000 dapps from over 30 protocols and offers a wealth of consumer-friendly tools, including comprehensive NFT valuation, portfolio management and daily industry-leading, actionable insights.