July’s exploration of the dynamic world of blockchain gaming and the metaverse has revealed a landscape full of potential and rapid evolution.
As significant investments come in and major players like Google recognize the profound impact of Web3 gaming, the industry is poised for transformative changes. We take a look at DappRadar’s latest report to give you the gist of what you need to know.
TL;DR
- Blockchain games accounted for 41% of on-chain activity and WAX is the leader in unique hot wallets.
- CyberKongz’s partnership with Ronin and Mighty Bear Games’ move to Arbitrum shaped the ethereum L2 gaming landscape.
- Trading volumes in the virtual world fell, while Google’s Play Store prepares to adopt web3 games with restrictions.
Metaverse Games Looking Good: DappRadar’s Latest Industry Report
DappRadar Full Report delves into the essential events, fundamental decisions, and critical data of the past month, presenting a vivid portrait of a future that is actively being crafted at the convergence of gaming, blockchain technology, and the expansive metaverse.
Key points
- Blockchain Games Overview
- Blockchain games made up 41% of on-chain dapp activity in July, with 712,611 daily unique active wallets (dUAW).
- WAX took the lead with 300,325 dUAW, showing its prominence within the gaming space.
- Ronin and CyberKongz Partnership: Pioneering the Future of Genkai Gaming and NFTs
- ethereum L2 Gaming Pivot: Arbitrum’s Rising Stardom
- Mighty Bear Games migrated its game “Mighty Action Heroes” from Polygon to Arbitrum, adding momentum to the Arbitrum gaming platform.
- TreasureDAO achieved a transaction volume of over $842,000 from 73,580 transactions in one month on Arbitrum.
- July Game Leaders
- Sweat Economy became the most played dapp game in July, attracting more than 739,000 UAW monthly.
- Virtual global trade volumes hit a year-low in July with $5.6 million coming from 10,796 land sales.
- Is the hype around virtual kingdoms over?
- Virtual world trading volumes also fell in July, mirroring a decline seen the previous month.
- Major virtual world dapps such as Otherdeed for Otherside and Otherdeed Expanded dominated trading volume.
- Powering the Future: Web3 Gaming Investments of $297 Million
- Investments in Web3 games recovered to $297 million in July, of which 63% went to infrastructure projects.
- Investments also demonstrated faith in the potential of the metaverse and virtual worlds. This despite the downward trends observed in the industry.
- Welcome Web3 from Google: presentation of the new Playbook from the Play Store
- Google will welcome web3 games to its Play Store later this year, albeit with certain stipulations.
- Google’s move also reignites interest in nft exploration among mobile gaming studios.
Final thoughts on the industry
The findings from July’s deep dive into the realm of blockchain gaming and the metaverse underscore the prevailing optimism. Despite market fluctuations, Google’s considerable investments and recognition of Web3 games underline the growing acceptance and integration of blockchain technology into major platforms.
In particular, the adoption of platforms like Ronin by major companies reaffirms that the presence of blockchain in the gaming universe is more than a passing trend; It is a transformative change that is actively shaping the future. Therefore, as we move forward in the coming months, it will be essential to closely track how these investments translate into product innovation, user engagement, and market growth. Finally, the intersections of gaming, blockchain, and the metaverse are not only shaping the future; They are actively building it.
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This article is educational material.
As always, do your own research before making any type of investment.
