Investments Keep Rising In Blockchain Gaming Industry, $500,000,000 Invested Between Oct. And Nov.

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From the year 2021, the blockchain gaming sector has witnessed a great adoption level. The industry has continued growing larger over the past couple of years and things are only getting better.

The sector has recorded huge gains in the past couple of years but investments have increased in the sector in the past couple of months.

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Tremendous Rise in Blockchain Gaming

Between the months of October and November, the blockchain gaming sector recorded a huge investment figure.

The report suggests that a total of $534 million have been invested into crypto between these months.

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The most surprising part of the blockchain gaming sector is that its influence and dominance are constantly rising in the blockchain industry.

A new report has found that almost half of the activities being recorded on blockchain networks come from the blockchain gaming sector.

Report from DappRadar

DappRadar, a Web3 research firm has shared its analysis of the blockchain gaming sector. The firm has also talked about the weak performance and activity of the sector in the past few months.

The blockchain gaming sector is usually referred to as the Metaverse sector or GameFi. DappRadar has revealed that they recorded a significant drop in the GameFi activity in the month of June.

Although the GameFi sector has witnessed ups and downs in activities, investments have continued to flow into the industry. In general, the sector has continued generating strong investments throughout the year.

It is important to keep in mind that throughout the year 2022, the cryptocurrency industry has faced a major downtrend. Despite the overall crypto downtrend, the GameFi sector has performed well.

The industry has proven to be mainly resilient from the overall market trends. This goes to show that many people have been taking interest in the gaming industry offered by the crypto-blockchain sector.

 Solana has Taken a Hit

DappRadar has also shared information about the Solana-based games. Solana is among the major and most adopted blockchain networks in the entire crypto industry.

According to the reports, the average number of Unique Active Wallet (UAW) recorded on the Solana-based games is 800,875.

These wallets have been interacting with a number of games offered through the blockchain in the month of November.

While the rest of the gaming blockchains have recorded gains, the Solana-based games have recorded a major hit. The report shows that the overall usage of Solana-based games has plunged by 89.4%.

For the month of November, the average daily UAW activity was recorded to be just 2,326. The month of November was full of mishaps for the Solana network and it was due to the FTX crash.

The Solana network had strong ties and bonds with FTX as it was backed by the founder of the brand, Sam Bankman-Fried.

As the platform faced a major crash, the Solana network lost its reputation and became one of the most despised protocols.

It was not only the Solana-based gaming that took a hit but the native token “SOL” also went down.

DappRadar has confirmed that although the Solana blockchain has taken a major fall due to the FTX crash, the rest of the blockchain gaming sector has not.

The firm has revealed that the damage recorded for the blockchain gaming sector due to the FTX incident is minimal.

Most Popular Games

The most popular games currently being offered by BlockFi space are Splinterlands and Alien World. Splinterlands has an average daily UAW of 151,000 while Alien World’s daily average UAW is 225,000.

The major selling point of the gaming industry within the crypto-blockchain industry is non-fungible tokens (NFTs).

The NFTs themselves are an entire space within the crypto-verse but the blockchain networks have nailed it by integrating them into GameFi.

As a result, people find the GameFi industry to be even more exciting as well as entertaining, which is why its attraction is constantly growing.

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