According to new research, the number of crypto wallets participating in blockchain games has skyrocketed in recent months.
According to the “Blockchain Gaming Report” from DappRadar in the third quarter, the individual active wallets that were connected to decentralized gaming apps totaled 754,000 in the reporting period. This equates to almost half of the industry’s activity, with the blockchain industry registering an average of 1.54 million individual daily active wallets over a three-month period.
Unique active wallets refer to unique addresses that interact with a particular smart contract, so this does not necessarily carry over to daily active users.
The increase in gaming activity is mainly driven by the play-for-money movement and the tokens that cannot be used in the game. NFT collectibles in this game generated $ 2.32 billion in revenue for the third quarter, the study adds, adding that that number represents 22% of total NFT trading volume over the period:
“With all the excitement surrounding Ethereum collectibles like CryptoPunks and Bored Ape Yacht Club (BAYC), the role of NFT in-game items can be overlooked.”
In the NFT segment, trading volumes of around 10.67 billion US dollars were recorded from July to September, a little more than 700 percent more than in the previous quarter.
Axie Infinity supermarket was one of the main drivers behind the blockchain game. Players collect and raise “axes,” which are virtual creatures that can be used in player-versus-environment (PvE) and player-to-player (PvP) combat in the game.
Axie Infinity accumulated a trading volume of $ 2.08 billion in the third quarter and has now reached a total volume of $ 2.55 billion. DappRadar reports that there have been over 6.7 million sales to date and the current 24 hour revenue is $ 15.2 million.
The NFT tracker CryptoSlam lists the Axie Infinity at $ 504 million as the best-selling collection based on volume sold in the last 30 days.
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In late September, Axie Infinity allowed staking for its native AXS token, which adds an extra layer of passive income on top of Axie’s play for money. The move stimulated AXS trading, pushing the price to an all-time high of $ 155 on October 4th. The token has gained 743% in the past three months.
Gambling associations like Yield Guild Games, which raised $ 12.5 million in a 30-second IDO (first DEX offering) in July, have also seen a surge in recent months.
Guild has been actively adding monetization games to its growing ecosystem just this month recently, including Thetan Arena, CyBall, Influence, Merit Circle, and Star Atlas.