In April, investments in blockchain gaming reached an impressive $988 million, marking the highest figure since January 2021. Additionally, the number of Daily Unique Active Wallets (DUAW) surged to a record 2.9 million for blockchain gaming in April alone.
Pixels by Ronin emerged as a dominant force on Polygon's platform in April, alongside titles like Matr1x and QORPO WORLD. The significant spike in investments, nearing $1 billion, represents a substantial increase compared to the $288 million recorded in the first quarter of 2024, making April a record-breaking month with investment amounts soaring more than threefold.
Metaverse also demonstrated positive growth in April, with Mocavese trading experiencing notable success, boasting an $8.4 million trading volume driven by high demand for metaverse-related NFT collections. Otherdeed by Otherside ($1.02 million) and Farmland by Pixels ($1.48 million) secured second and third positions, respectively.
This surge in growth can be attributed to the rising popularity of digital gaming among consumers, leading to the emergence of the "play-to-airdrop" movement, where new gaming tokens are generating excitement within the Web3 industry.
Blockchain Gaming Partnership with DappRadar
A decentralized applications market is called DappRadar. In collaboration with the Blockchain Gaming Alliance, DappRadar released their April blockchain gaming report on May 17. Similar general trends are seen in the Decentralized Apps (Dapp) market as in the significant growth of the blockchain gaming business that this study has emphasized.
DappRadar reports that despite the 20,000 industry workers who lost their jobs across these organizations, the blockchain gaming sector is rebounding. Businesses involved in the gaming business, such as Ubisoft and Square-Enix, have recently demonstrated certain traits that point to a promising future for the sector. The blockchain gaming market has rebounded, and according to the research that follows, blockchain gaming will profit from newly developed technologies.
Conclusion And Effects
In April, DappRadar and the Blockchain Gaming Alliance released a report with data collected by Coin Gabbar that indicated a significant resurgence in the crypto gaming market. $988 million has been invested, the most since January 2021. Furthermore, with 2.9 million Daily Unique Active Wallets (DUAW), a record, the amount of transactions is increasing at a very rapid pace. Matr1x and QORPO WORLD are the two most played games on the Polygon platform, which continues to lead due to the popularity of "Pixels".
At $8.4 million, Mocaverse leads NFT trade volumes in the metaverse. Otherdeed by Otherside and Farmland by Pixels follow. Although confronted with obstacles like mass unemployment, the industry is recovering because to new technologies and innovations.
The growing interest from major gaming companies like Square Enix and Ubisoft in blockchain gaming signals a promising future for the industry. Additionally, collaborations such as the partnership between DappRadar and the Blockchain Gaming Alliance indicate positive trends in the decentralized apps sector.
The exceptional investments recorded in April, coupled with the rapid exponential increase in user engagement, are clear indicators of the bright prospects for blockchain gaming. This suggests that further growth and innovation are on the horizon, promising an exciting journey ahead for the industry.
May 2024, Cryptoniteuae