By Bitcoin.com - 6 months ago - Reading Time: 2 minutes
Blockchain Gaming Holds Strong in Q3, Amid Evolving Crypto Landscape
The blockchain gaming sector maintained its influential position in the third quarter of 2023 despite some decreases in momentum, according to Dappradar’s recent report. Although metrics such as unique active wallets and transactions dropped slightly, the report advises against viewing this as a sign of decreasing interest. Rather, it shows a changing landscape as other crypto sectors become more prominent.
Dappradar Report: Blockchain Gaming Sees Steady Growth
Dappradar’s Third Quarter Blockchain Gaming report underscores emerging trends, including the growth of casual gaming studios and “move-to-earn” applications, indicating diversifying user tastes. The report also mentions the ongoing dominance of established games like Alien Worlds and Splinterlands in wallet and transaction counts. However, newcomers like Treasuredao and Sweat Economy are establishing their places, suggesting future trends.
The study further explores the rise of social dapps. “Social dapps, for instance, have been the talk of the town this quarter,” the Dappradar report states. “While their market dominance rests at a modest 11%, a surge in user engagement with social projects is evident in our Social Dapps Rankings.”
The third quarter report points out that investments remained strong at $600 million, but lagged behind the 2021 rate. “The investments made last year are set to bear fruit this year and possibly the next,” the report says. Since the beginning of 2023, blockchain gaming has attracted approximately $2.3 billion in investments. Even with a decrease in activity, the interest in the metaverse and virtual worlds continues, and blockchains like Skale and Zksync are growing in popularity, particularly among casual gaming studios.
Dappradar predicts that casual games will be the next major trend in the industry. While there are challenges, Dappradar’s insights are mostly positive, and a growing perspective persists. “In essence, while the growth trajectory of blockchain gaming remains largely positive, the evolving dynamics across sectors and platforms emphasize the need for adaptability and foresight in this ever-evolving domain,” the report concludes.
What do you think about Dappradar’s gaming report? Share your thoughts and opinions about this subject in the comments section below.
Original source: Bitcoin.com