Blockchain games dominated the web3 landscape in the third quarter, capturing more than 26% of on-chain activity, according to the latest report from DappRadar.
Web3 games accounted for more than 26% of on-chain activity in the third quarter, driven by 4.4 million daily active wallets, marking a 21% increase in daily unique active wallets from the previous quarter, according to DappRadar . data.
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Leading the charge, Ronin Network maintained its dominance, attracting over 1 million daily wallets, a growth of 34% from the second quarter, while Oasys and opBNB also posted gains, with Oasys soaring 4,711% and opBNB soaring 480%, establishing themselves as the main ones. make game blockchains.
Despite the high on-chain activity, data reveals that blockchain gaming investment saw a staggering 90% decline from the previous quarter, falling to $110 million, with 79% of this capital channeled into infrastructure projects.
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Recent data from blockchain investment firm Galaxy Digital x.com/hiroto_btc/status/1846258603906277741″ target=”_blank” rel=”nofollow”>indicates That total venture capital funding in the cryptocurrency sector fell 20% in the third quarter, totaling $2.4 billion across 478 deals.
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Gabe Parker, research analyst at Galaxy Digital, noted that crypto startups focused on ai services saw a five-fold increase in funding quarter over quarter, while those focused on non-fungible tokens, the metaverse and gaming They experienced a 39% decrease. , described by Parker as the “largest quarter-over-quarter decline in venture capital investment across all categories.”
DappRadar blockchain analyst Sara Gherghelas noted that although investments in the web3 gaming space fell sharply from the previous quarter, the industry is still “building critical infrastructure for future growth.” At the same time, the metaverse experienced a combination of declining trading volume and increasing sales, indicating “sustained demand despite fluctuating prices,” Gherghelas said.
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