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Gaming accounted for 55% of all blockchain activity in October



The online gaming infrastructure development organization Blockchain Gaming Alliance worked with Canadian blockchain-based experience provider Dapper Labs to release a report on the state of the blockchain gaming sector last month.

Over 1 million Unique Active Wallets (UAW) connected to decentralized applications were functional per day as of October 2021, the report said. The gaming world thus made up 55% of the total activity of the blockchain industry in October 2021. However, despite the increasing popularity of NFTs, the volume of trade in game-related NFT items declined 11% from September 2021.

With Facebook's ongoing rebranding to emphasize its focus on the metaverse, virtual asset market cap increased 175% last month and is currently valued at just under $ 1 billion. Virtual Worlds NFTs continued to dominate total estimated NFT market capitalization, hitting 8% in October.

Regarding the findings of the report, Modesta Masoit, Head of Finance and Research at DappRadar said:

“It's a bit ironic that Mark Zuckerberg, barely the hero of our world, seems to have done us a favor by doing everything on the Metaverse. Metaverse-related tokens are going through the roof. Our space benefits from the advantages of Meta and is growing at a pace that has never been seen before in the traditional Web2 world. "

The executive went on to explain that gaming mechanics were key to integrating DeFi and NFTs into the metaverse. It is therefore a good time to bet that 2022 will be the "year of the blockchain games". Gaming will be critical to developing the Metaverse into a decentralized virtual hub where we can all interact, earn and play, she added.

The report also showed that VCs had invested 127 million in blockchain game-related platforms like Animoca Brands, Treeverse and the trading card game Parallel by October 2021. This development shows a pattern of VCs rushing to new games as established games like Axie Infinity and Splinterlands continue their spectacular performance.

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