On Thursday, DappRadar released its 2022 overview of the blockchain gaming industry. The DappRadar x BGA Games Report shows that the industry is generally healthy. If the trends continue, 2023 looks set to be the best year ever for these altcoins.
“Gaming accounts for half of on-chain activity in the Dapp industry”
cryptocoin.com As you follow, ‘gaming coins’ have an important place in the crypto world. DappRadar’s review highlights some interesting trends from the past year that will likely define 2023. This includes an increase in on-chain transactions and the number of unique active wallets. According to DappRadar, gaming accounts for almost half of the on-chain activity in the Dapp industry. In addition, the number of on-chain game transactions reached 7.4 billion, an increase of 37% compared to the previous year. Meanwhile, since 2020, on-chain gaming transactions have increased by 3,260%.
Polygon was one of the biggest winners of the year with an average of 97,384 dUAWs. This gain represents a 338.37% increase in the UAW over 2021. The Ethereum side-chain also got off to a great start to 2023. This week, Web3 announced that its gaming platform Fractal will expand to its network. Another bullish sign for Tier 1.
❄️ FRACTAL IS EXPANDING TO POLYGON 🕹️@fractalwagmi mints, tournaments, marketplace, and studio are now available #onPolygon
Excited to announce the launch with Fractal’s 30 Polygon partners. Watch the video reveal👇 pic.twitter.com/VuIRThkof5
— Polygon Gaming (@PolygonGaming) January 24, 2023
Splinterlands remains the most popular game, with an average of 235,499 unique active wallets (dUAW) in 2022. Also, the game dapp has over 1 million transactions per month, which means each Unique Active Wallet handles an average of five transactions each month. But since changing the game economy and reward system in August, the dapp has experienced a decline in gaming activity and closed the year with 157,681 dUAW.
Biggest gaming coins by market cap / Source: CoinMarketCapIf trends continue, 2023 will be a year of growth for these altcoins
DappRadar Blockchain Research Analyst Sara Gherghelas says she expects more innovations in the blockchain gaming industry in 2023. DappRadar shared the following regarding the report:
Despite the crypto market downturn in 2022, gaming remains a driving force for the Web3 industry, accounting for ~50% of all Blockchain activity tracked by DappRadar. What really happened on the playground last year?
1/ Despite the crypto market downturn of 2022, gaming remains a driving force for the Web3 industry, accounting for ~50% of all blockchain activity tracked by DappRadar.🚀
What actually happened in the gaming space last year?
DappRadar x @BGameAlliance Games report explains👇
— DappRadar (@DappRadar) January 26, 2023
DappRadar also makes the following assessment for metaverse altcoins:
One of the most exciting trends to watch is the potential of in-game DAO economies. The introduction of syndicates in Alien Worlds’ metaverse earlier this year opened up new opportunities for players to engage in decentralized governance and voting mechanisms that can create a more engaging and community-driven gaming experience.
The blockchain gaming industry will likely focus more on the problem of poor UX in 2023. “As ease of access to wallets is a major hurdle for many first-time users, we can expect to see more solutions that combine ease of setup with security and make the experience of playing Blockchain-powered games more seamless and user-friendly,” says DappRadar.
