DappRadar Report: Blockchain Gambling A Real Crypto Winter Survivor

Crypto Winter, aka a bear market, is no longer happening, here it is. However, the wider blockchain gaming space remains strong amid growing interest in so-called prize-winning games and land sales for the metaverse.

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According to the latest BGA Blockchain Game Report from analytics site DappRadar, 1.15 million daily UAWs interacted with blockchain games on average in May. However, the number is down 5% from last month.

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Contrary to the winter crypto trend, blockchain games are proving their status as verticals that best navigate the bear era. The report further says that macro indicators for gaming herald a strong scenario for the blockchain gaming ecosystem, as gaming dApps now account for 52% of total dApp industry activity.

This is more than the fresh $ 1.4 billion pumped into Web3 games and associated metaverse infrastructure in May alone. The other notable investment was the $ 725 million raised by Dapper Labs to further expand the Flow ecosystem.

The capitalization of the crypto market has fallen below $ 1 trillion for the first time since 2020 – and in hindsight, many big names in the crypto industry are making painful deletions. Similarly, activity in the dapps industry fell to its lowest point since September, recording 2.22 million daily unique active wallets (UAWs).

The play-to-earn gaming metaverse also continues to attract a lot of investment and on-chain metrics and macro events heralds a positive outlook for the blockchain gaming industry.

According to the DappRadar x BGA Blockchain Games report for May 2022, Splinterlands maintained its position as the top blockchain game with 350,000 daily UAWs in May while making a major step toward decentralization.

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The report says Illuvium generated $ 72 million from the initial land sale, showing the benefits of Layer2 solutions like Immutable. The game’s developers were able to sell the first plots of game land despite poor market conditions.

Game Development Will Resist the Crypto Bear Market

Another remarkable milestone is in store for STEPN, which has registered 2 million monthly users as the move-to-earn (M2E) paradigm continues to add to the number of exercise enthusiasts. As the name suggests, M2E allows users to earn reward tokens based on their physical activity.

In the same line, Splinterlands is the most played blockchain game in the industry according to on-chain activity, attracting 350,000 daily UAWs, down just 4% from April figures.

In addition, the report says Galaverse has revealed major plans for the Gala ecosystem, including GRIT, Project Saturn, and major updates for TWD Empires and Mirandus.

Axie Infinity, was once the most blockchain game based on off-chain activity. The consequences of Ronin’s bridge hack are still being felt. Axie’s on -chain activity is down -39% from April, but 55% higher than in May 2021.

“Blockchain gaming has proven to be a real survivor in this bear market. We’re about to see a fair amount of blockchain games with truly immersive game mechanics bringing the fun to the next. level. We will complete the transition from game to win to play and win, ”the report concluded.

Blockchain Games Report #5, developed in partnership with the Blockchain Game Alliance (BGA), outlines the factors driving the blockchain ecosystem, using metrics and data to gain an understanding of the latest trends. The report summarizes the various market scenarios to provide a basic look at the market as it relates to DeFi, NFT, gaming, and everything in between.

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