Blockchain games are challenging the market with increased investments and the number of Uniquely Active Wallets (UAW) close to 1 million daily.
Blockchain games change the rules of the game by incorporating a new generation of players into the blockchain ecosystem. The size of the traditional gaming industry is estimated at over $175 billion. With a market cap of $6.2 billion, GameFi is barely close to 4% of that. Despite this, blockchain games are challenging both the bear market and the gaming industry.
Investments in Blockchain Games Increase
Data from blockchain-focused data and analytics firm DappRadar shows that blockchain gaming is one of Web3’s emerging, promising industries, with 847,230 Unique Active Wallets and $698 million in daily transactions.
The real winners during the bear market were blockchain-based games, which have grown close to 10 percent since the first quarter. During the year, investments in blockchain games exceeded $300 million despite the decline in the crypto market.
In the past months, Alien Worlds, which increased by 8 percent compared to the previous month, became the most played blockchain game with an average of 205 thousand 285 UAW per day.
The future of GameFi is described as promising as it brings together the industry’s most innovative concepts and collaborates with traditional game companies.
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