It may be a bear market, but blockchain games remain popular. That is the conclusion of a new DappRadar update. Despite the falling prices, many players continue to actively play their crypto games!
1.15 million daily active crypto wallets
DappRadar starts the update right away with good news. The overall decentralized app (dApp) industry plunged to a low of 2.22 million daily unique active wallets. If we only look at the blockchain games, the number of unique active wallets dropped to 1.15 million daily. That is a decrease of only 5% compared to May. The difference in decrease can be clearly seen in the graph below.
The largest player in the blockchain gaming industry is Splinterlands. That game had about 350,000 daily active players in May. And despite the bear market, the game Illvuium raised $72 million by selling digital tracts of land.
STEPN remains incredibly popular
STEPN is extensively discussed in the report. It move to earn game, which allows players to earn crypto by running in the real world, has a whopping 2 million monthly active users. Despite the bear market, the number of wallets that the governance token of the project has increased. About 260,000 wallets now own the token.
STEPN is experiencing some stagnation in the activities within its ecosystem. Soon it will add a lease feature allowing players to purchase the sneakers (which are represented by non-fungible tokens) can borrow. Thus, players who cannot buy the shoes immediately because they are too expensive, would still be able to play the game.
Investors pour billions into blockchain gaming and metaverse
The fact that the blockchain gaming sector remains attractive is also apparent from the fact that major investors have already made huge investments in the sector in 2022. DappRadar states that parties such as A16z and Dapper Labs have already injected $4.9 billion into the sector in 2022. In short, according to DappRadar, the blockchain gaming sector remains relatively unscathed during these difficult market conditions!
