Blockchain gaming dominates on-chain transactions and attracts Web3 users. Gamers support blockchain. Dappradar reports 2023!
Blockchain gaming has been going up in an amazing way, dominating on-chain transactions and getting a lot of users in the Web3 environment. In April, data company DappRadar said that a big chunk of all on-chain transactions were related to gaming. It makes up 38% of all crypto trades right now. Even though the number of daily active wallets went down a little, gaming-related activities continued to grow.
In the study, blockchain games were at the center of everything and made up a big part of on-chain transactions. Even though the number of daily active wallets dropped by 10% compared to the month before, 38% of all crypto transactions were tied to gaming. This number shows how gamers are becoming more and more interested in the blockchain area.
DappRadar said that the "meme token craze" that has been spreading through the Web3 environment was to blame for the drop in the number of daily active wallets. Meme coins are volatile and hard to predict, as shown by the fact that PEPE's market cap went up to $1.7 billion before dropping by 63%. Also, it had a big effect on how engaged users were. Also, the boom in meme tokens caused trade in virtual worlds to drop by 74%, which was a big change. Even though these problems were there, games like The Sandbox and Topia kept getting better.
Sui's Rise and Its Success
A new game network called Sui was one of the most interesting things in the report. Even though Sui had just been released a week before, it made a lot of progress. Since its ICO, its name token has gone up in value by a staggering 3,800%. This huge rise shows that the gaming community is very interested in and supportive of Sui. Also, there are already 40 games being made on the network's platform.
The study gave details about the gaming chains that are the most popular right now. The best gaming brand, WAX, which is known for games like Splinterlands and Alien Worlds, kept its top spot. But Polygon, a sidechain network for Ethereum, became a strong candidate for the throne. Polygon came in second for gaming action, which shows that it is becoming more popular and could challenge WAX's dominance. The fact that these chains are competing shows how dynamic the blockchain game industry is.
User Engagement and Bot Activity
The study also brought up the problem of bots in some WAX games. But it said that games like Splinterlands and Alien Worlds were doing the right things to stop bots. Also, it leads to a lot of bot users being kicked off of their sites. This proactive method not only makes sure that the game is fair and fun, but it also makes it easier for players to trust and believe in the blockchain gaming ecosystem.
Arbitrum is a scaling option for Ethereum. In April, the number of users grew by more than 118%. A token airdrop on the network in late March may have had something to do with this rise. The decentralized gaming ecosystem Treasure and its users both gained from the airdrop. Also, groups with a lot of attention, like Pirate Nation, paid attention to it. This influx of projects to Arbitrum has made it more well-known and solidified its status as a place Web3 users want to go.
Mighty Bear Games CEO and co-founder Simon Davis
In an email to a gaming news site, Simon Davis, CEO and co-founder of company Mighty Bear Games, which makes games for the Polygon network, said that he thinks the late-March token airdrop is the main reason why Arbitrum has become so popular. "A big chunk of the airdrop allocation went to the decentralized game ecosystem Treasure and its users. It makes high-profile projects like Pirate Nation want to move to Arbitrum, which brings more attention to the environment, Davis said. "Arbitrum is gaining a lot of steam and becoming one of the best places for Web3 gamers to go."
Looking into the future, the growth and variety of blockchain games point to a world with more than one chain. As different blockchain networks compete to get gaming projects, it's clear that different chains will live together and serve different gaming purposes. This environment with many chains will give gamers more choices. It helps keep competition healthy and encourages new ideas in the Web3 gaming area.
As blockchain gaming becomes more popular and takes over on-chain transactions, it is changing the way games are played in the Web3 environment. Even though the meme token craze and bot activity are problems for the market, it continues to grow and draw both users and developers. The rise of Sui and the success of networks like WAX and Polygon show that the blockchain gaming area is becoming more diverse and competitive. With the rise of Arbitrum and the chance of a future with multiple chains, the gaming industry is set to grow and change even more, which is great news for Web3 gamers.
Find Play to Earn Gaming News
Thank you for reading this PlayToEarnGames.com news story. We are the best place to find out what's new and exciting in the world of play-to-earn games. Our website has reviews, videos, and in-depth articles about the newest and most exciting P2E games for different platforms.
Our list of P2E games has been carefully put together by a team of experts, and we give you all the information you need to make the most of your gaming time. For the games you're interested in, you can find information about game tokens, white papers, and links to social media sites.
We are proud to keep our readers up to date on the latest changes in the gaming industry, such as blockchain, non-fungible tokens (NFTs), crypto, Web3, and metaverse games. Check out our "Best Games" and "Game Lists" sections to find the best P2E games and developers, or visit our "Video Game News" area for daily updates on what's going on in the gaming world.
Send us a press release if you're putting out a game or have news about PlayToEarn games. Our team of committed PlayToEarn Game news reporters will be happy to cover your event. Our website and reviews of video games should help you find the best play-to-earn (P2E) games. We're glad you came to PlayToEarnGames.com.