Blockchain gaming and metaverse projects raised an astounding $1.3 billion in Q3 of 2022, reveals the latest BGA Games Report for Q3 2022 by DappRadar.
Web 3.0 gaming, the report says, continues to be a “driving force for the dapp business despite the challenging market conditions”.
DappRadar analyzed Blockchain activity across 50 networks. It found that in September 2022 alone, around 912,000 daily Unique Active Wallets (UAWs) interacted with gaming smart contracts.
According to the report, Hadean, a metaverse company, has built essential metaverse components and entered into multi-year partnerships with entertainment, education and enterprise digital twin service providers. These include Minecraft, Pixelynx, Sony and Gamescoin, among others.
“This new round of investment will accelerate Hadean’s capacity to equip manufacturers in new and evolving metaverse marketplaces with the means to transform every element of how we work, construct, buy and consume,” the report said.
The two Web 3.0 games, Alien Worlds and Splinterlands, saw over 160,000 daily UAWs in September 2022. The same month, UAWs on the gaming platform Gameta, which was first introduced on Solana, and is now also available on the BNB chain , exceeded one million per day.
Likewise, the polygon-based Benji Bananas climbed the ranks during the most recent quarter, attracting over 29,000 daily UAWs in September, the report added.
The influence of Blockchain gaming is also visible in the non-fungible token (NFT) market, where gaming group Gods Unchained cracked the top-5 collections by trading volume in September. The gaming assets yielded more than $18 million.
Also, in September 2022, the Blockchain gaming industry increased its average daily UAW by 8 percent to 912,000, accounting for 48 percent of Blockchain activity, a very positive indicator for this category, according to the report.
“The amount of investment shows that despite the challenging and uncertain conditions in the digital asset markets, major investment entities remain positive on the Blockchain gaming industry,” the report added.
The term ‘metaverse’ is often used to refer to what many believe will be the next important paradigm in how we use digital technology and networks to communicate, collaborate and have a range of virtual experiences.
There is no single technology, equipment or service offered by a single company. It is the result of the merging of several different technologies, all of which are quickly becoming mature enough for widespread use.
