In this bear market, blockchain games are doing relatively better
Data from DappRadar, a website that monitors decentralized applications, indicates that blockchain games and games based on non-traditional tokens (NFTs) have seen less price declines than other cryptocurrency projects during the downward trend. Also, the activity of venture capitalists is still strong in this sector.
To Report Cryptonews, during June this year in the ecosystem of blockchain projects, the gaming section set new records. This happened while the number of Uniquely Active Wallets (UAW) decreased.
For comparison, it is good to know that the number of daily active wallets on the Ethereum network reached more than one million units in May 2021 (May 1400), which still stands.
The increase in the index of the use of active wallets by investors is interpreted as a bullish signal to continue investing in blockchain games.
Depredar Institute also noted that in the second quarter of this year, about 2.5 billion dollars of venture capital has flowed into this sector. This means that the process of attracting capital in the first quarter of this year has been repeated in the second quarter of this year, and thus the annual capital attraction record of 4 billion dollars, which was achieved during the same period last year, has been achieved during this period. broke.
The report goes on to mention a new $4.5 billion cryptocurrency-focused fund created by investment giant Andreesen Horowitz.
With this speed of investment, it is expected that we will see 12 billion dollars of investment by the end of the year.
In the gaming sector, the largest share is related to virtual world related tokens. This sector has seen a 97% increase in the volume of its transactions in the last season.
Also read: Play and earn money; The best blockchain games
The most popular game in this segment is Splinterlands, which averaged 283,729 unique active wallets per day during the current season.
The next brilliant project mentioned in this report was Alien Worlds, which was able to claim the second best game in terms of the number of unique active wallets. The number of players has remained more or less constant during the last season, and the number of active wallets has decreased by only 4% in the second season of the new year.
Of course, there are also some games that have not been successful. The game Axie Infinity lost about 40% of its players in the second season of this year, although most of it was related to the big hack of Ronin Bridge, which reduced the price of the game’s token, SLP. Was.
Ronin Bridge is an inter-blockchain bridge used to transfer users’ assets from the Ethereum blockchain to the Oxy Infinity custom blockchain.
Pedro Herrera, Head of Depredar Research, considers blockchain games as one of the most promising areas of Web 3.
Herrera considered the two factors of the amount of capital attracted and the transfer of talent from traditional gaming companies to Web 3 startups among the positive signs of the future of this sector of the digital currency industry.
Herrera added in this regard:
We will gradually see how Gala Games, Immutable-X and similar networks will become leaders in this growing industry over the coming years.