Feeling FOMO for NFTs? Blockchain gaming is next big crypto trend to keep your eye on…
Looking to get the inside scoop on the latest blockchain trends? DappRadar’s latest report shines a spotlight on the crypto gaming industry. Alongside its regular monthly analytics of dApp users, including the demographics of crypto users and how they connect to the network, the report highlights the surge in crypto gaming activity, and how this is pushing NFT activity even further.
A brief spotlight on dApp users
DappRadar is well-placed to carry out such an analysis, as it tracks and analyses decentralised apps (dApps) using on-chain data, unlocking insights into user behaviour, location and other demographics. From this data, we can see that over 2 million Unique Active Wallets used smart contracts per day in August, an almost 20% increase on the month prior and an 883% increase against the year prior. The primary traffic driver was the USA, followed by the Philippines and China. The UK and Russia were notable names in Europe, but they pale in comparison to their Asian counterparts.
Age-wise, the Millennials (25-34 year olds) dominate, but Gen Z (18-24) are hot on their heels. The older Millennials and the Boomers are showing more interest in the blockchain, but this is truly insignificant in comparison to the younger age groups. Out of all of the users, three quarters are male and the split between desktop and smartphone users is narrowing to almost 50/50.
The rise of crypto gaming
The first thing to note is that, in absolute numbers, the whole blockchain has been increasing in users over 2021. While the first half of 2021 saw huge interest in DeFi and NFTs, DeFi is losing its dominance, dropping from 55% of blockchain traffic in May to around 18% right now. NFTs have held their ground at around 41%, but have skyrocketed in absolute numbers. However, this cannot be explained by people buying and selling NFTs directly.
The continued increase in NFTs can be explained by an uptick in interest from a number of key markets for NFT gaming. Russia is the most significant of these, but Thailand, the Philippines and other Asian nations are big sources of traffic. This is linked to the growth of games such as Axie Infinity, Splinterlands and Alien Worlds. Yet, the big point to note here is that the market is far from saturated, simply look at the map below.
The games mentioned above have a broad appeal in developing nations because they bring together NFTs and gaming in a “play-to-earn” fashion, promising eye-watering returns on players’ investments. According to DappRadar, the developed nations are only just starting to take an interest in these games, and much more developed and compelling games are soon to be launched, which should send their adoption through the roof.
In conclusion, it seems as though crypto gaming is the area to keep your eyes on. According to a report by the analytics-orientated DappRadar, gaming has exploded over the past few months, sucking funds away from DeFi. Yet, it still has room to grow, with the number of wallets associated not quite reaching the levels of other uses of the blockchain.
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Hi! Привет! Salut ! Je m’intéresse à deux choses : la crypto et les langues. Je suis donc heureux de faire partie de l’équipe multinationale du CoinTribune, où je peux partager mes connaissances de la crypto avec des gens des quatre coins du monde – l’un article après l’autre.
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