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On-chain Gaming Accounts for 45.6% of dApp Activities in Q1 2023

Published 04/08/2023, 04:39 AM
Updated 04/08/2023, 05:00 AM
On-chain Gaming Accounts for 45.6% of dApp Activities in Q1 2023

  • Gaming activity fell 3.33% in March yet accounted for 45.6% of the dApps industry.

  • Polygon’s daily active wallets grew 53%, becoming the second-largest gaming chain.

  • Yuga Labs’ gaming NFTs generated $153 million in trading volume.

According to a recent report from DappRadar, a leading tracker of decentralized applications (dApps), on-chain gaming activities have declined by 3.33% in March to 741,567 daily Unique Active Wallets (dUAW).

Despite this decrease, blockchain games still make up over 45% of the dApp industry activity in the first quarter of 2023.

One of the most notable findings in the report is the impressive growth of Polygon, which has become the second-largest gaming chain. The network saw a remarkable 53% increase in daily unique active wallets from the previous month.

The report also highlights the top games in Q1 2023. Alien Worlds dominated 66% of the WAX network activities with 223,945 average daily unique active wallets, while Splinterlands claimed 99% of Hive activity.

Additionally, Iskra and Hunters On-Chain by BoomLand were the best-performing games in March, boasting significant monthly on-chain usage growth of 708% and 15,497%, respectively. Virtual worlds also experienced substantial growth, with the trade count reaching a new high of 67,165 in March. Q1 ended with 143,735 land sales and a $350 million trading volume.

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Furthermore, the report highlighted the impressive growth of Yuga Labs and their gaming NFTs, which generated a substantial $153 million in trading volume. Overall, investments in blockchain games and metaverse projects totaled $434 million in March, bringing the total for Q1 to $739 million.

Notably, investments in blockchain games and metaverse projects totaled $434 million in March, bringing the total for the year’s first quarter to $739 million.

The post On-chain Gaming Accounts for 45.6% of dApp Activities in Q1 2023 appeared first on Coin Edition.

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