Despite the decline in the crypto market triggered by the collapse of Terra, investors continue to invest in blockchain games and metaverse projects. Although the Bear market is currently in a dominant position, the amount of investment does not change.
According to the report of blockchain-focused data and analysis company DappRadar; The real winners during the bear market were blockchain-based games, which have grown close to 10 percent since the first quarter. While the amount of investment in the market remained stable, the number of active users on the blockchain increased by 62 percent compared to last year. However, it declined by 12 percent as of the year.
Increasing user insecurity and attacks after the Terra collapse brought losses. The average loss in TVL among all blockchain platforms was around 68 percent.
High Interest in Games, NFT and Metaverse Projects
The fact that the activities in the bear market remained stable and the number of active users increased by 62 percent creates an optimistic outlook about the market. Behind this positive graph is that the interaction in blockchain applications remains almost the same as before the Terra collapse.
Metaverse-related NFT projects are seen as a beacon of hope, with trade volume and number of transactions increasing by 97 percent and 27 percent, respectively. Despite the aforementioned decline in NFTs, global interest in NFTs remains strong.
The proportion of NFT transactions related to games has decreased by 51 percent since the first quarter, and sales volume has fallen by 82 percent. The number of transactions for NFTs has decreased by close to 12 percent since the last quarter.
Solana grew 322 percent last year, while Phantom improved 455 percent. Avalanche is up 1329 percent from last year, despite falling 80 percent from its all-time high.
Regarding games, whose volume and number of transactions have fallen by a third since the first quarter, NFT draws its high attention from North America, Oceania and parts of Europe. Axie Infinity is the most sought after NFT collection in 112 countries. The most NFT-savvy country was Singapore with 18,717 searches.
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