The third quarter of 2021 has been perhaps the most significant in blockchain gaming’s short history. There was a sharp incline in users, trading volume, and daily transactions on most of the popular blockchain games, as well as a number of projects rising from nothing to prominence.
Take for instance Farmers World on the WAX blockchain. At the start of August 2021, it had under 2,000 daily users and multiple zero trading volume days. As of the middle of October 2021, it has nearly 50,000 daily users and has accrued over $1,100,000 sales in that two-and-a-half-month window. It has now been sitting comfortably in the top 10 blockchain games based on daily users for several weeks.
This is far from an anomaly, with Axie Infinity and Splinterlands up 25% and 58% respectively in active users in the last 30 days. The alluring siren is Play to Earn — we all know that — but with player economy a foundational mechanic in blockchain games, that increased interest in blockchain gaming isn’t a false dawn. The games may be simplistic in graphics and gameplay, but they are perfect use-cases for appetite.
Almost Half of Unique Crypto Wallets Interacted With a Blockchain Game in Q3
Firstly, you ought to read DappRadar’s reports; they are the best insight into blockchain gaming we have. Secondly, I need to begin by unpacking what the subtitle (the aforementioned, “staggering stat”) means. Unique Active Wallets (UAW) merely mean unique addresses. People can and do have multiple wallets, so it’s important not to conflate UAW with playerbase.
DappRadar’s report found that 49% of the 1.54 million daily UAW interacted with blockchain games. In addition to this, the behemoth NFT market — which is still largely centered around collectibles and art — had blockchain game NFTs as a 22% slice of its sales, equating to around $2.32 billion.
The size and continued growth of blockchain gaming are undeniable. Blockchain gaming is fast establishing itself as a key player in the crypto movement as NFTs with real utility become the next stage of NFT appeal and application. We are still early to this subsector of the gaming industry, despite the money flowing through it, and it’s enthralling to watch this pivotal part of gaming history unfold.
Key Takeaways
- 49% of unique crypto wallets interacted with a blockchain game in Q3
- Gaming NFTs’ share of the NFT market is growing, around 22% iof NFT trading volume in Q3
- Even established blockchain gaming leaders saw substantial growth of daily active users in Q3
Lead image by John Petalcurin via Pexels, used under Creative Commons.
