Blockchain Gaming Usage Explodes 2,000% in a Year: DappRadar

Usage and investments across the blockchain-gaming sector increased in the first quarter to make up 52% of all blockchain activity.

Apr 20, 2022 at 1:32 p.m. UTC
Updated Apr 20, 2022 at 3:38 p.m. UTC

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

Blockchain-based game playing increased 2,000% since Q1 of 2021, equating to 52% of all blockchain activity, according to the recent DappRadar x BGA Games report.

  • Blockchain games attracted 1.22 million unique active wallets (UAW) in March of this year, with Axie Infinity being responsible for 22,000 of those in spite of the $615 million Ronin Bridge hack.
  • A rise in popularity of play-to-earn non-fungible token (NFT) games on Ethereum sidechains has been a big contributor to growth, with platforms like Crazy Defense Heroes, Pegaxy, Arc8, and Aavegotchi spurring a 219% increase in Polygon's gaming activity since the start of 2022.
  • Activity on the likes of BSC and Ronin, on the other hand, has dropped off since the end of last year as users attempt to minimize risk on more volatile chains.
  • Across the sector, a total of $2.5 billion of funding was raised in Q1 of 2022, up 150% from the year-ago quarter. Animoca Brands was among those with investments, raising $360 million at a $5 billion valuation as it cements itself as one of the leading Web 3 brands.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

CoinDesk - Unknown

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

Trending

1
CoinDesk - Unknown
Bitcoin Pares Earlier Losses; Resistance at $33K

BTC remains in a choppy trading range with limited upside.

BTC remains in a choppy trading range with limited upside.

CoinDesk - Unknown
2
CoinDesk - Unknown
DeFi’s PoolTogether Crowdfunds Legal Defense With NFT Collection

The DeFi company is using an NFT collection to crowdfund legal defense against a lawsuit brought by a former Elizabeth Warren staffer.

The DeFi company is using an NFT collection to crowdfund legal defense against a lawsuit brought by a former Elizabeth Warren staffer.

CoinDesk - Unknown
3
CoinDesk - Unknown
Coinbase Has ‘Structural Advantage’ Over Competitors, Cowen Analyst Says

Stephen Glagola gave the crypto exchange an outperform rating and $85 price target.

Stephen Glagola gave the crypto exchange an outperform rating and $85 price target.

CoinDesk - Unknown
4
CoinDesk - Unknown
Tether Enters Latin America With Mexican Peso-Pegged Stablecoin

The country’s multibillion-dollar remittances business and difficulties in transferring money create a “unique opportunity," the company said.

The country’s multibillion-dollar remittances business and difficulties in transferring money create a “unique opportunity," the company said.

CoinDesk - Unknown