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Gaming accounts for a 48% share of all blockchain activity

Gaming accounted for 48% of all blockchain activity reported in January. This percentage of market share was a significant increase from the 45% reported in December. The number of unique wallet addresses that interacted with the gaming sector reached 839,436.

Gaming accounts for 48% of all blockchain activity

Data from DappRadar shows that blockchain gaming accounts for nearly half of the activity in blockchain networks. This is bullish for the long-term potential of blockchain gaming projects.

Despite this growth, the gaming sector is still in the infancy stage. The numbers are still optimistic, given the negative sentiment surrounding the crypto industry in 2022 because of the bearish conditions and the failures of top crypto companies such as FTX, Celsius, and Voyager.

“The game alphas and updates keep coming in the blockchain space, and there is a growing sense of excitement and anticipation for the future. As the sector continues to mature, we can expect to see even more exciting developments in the coming months,” the DappRadar report said.

The report also noted that the market was turning bearish this year. The non-fungible token (NFT) market was leading in this recovery, with on-chain metrics showing notable growth and activity. This indicates that the NFT market will record significant growth during the first quarter of 2023. The NFT market reported $941 million worth of trading volumes and total sales of 9.2 million.

The largest NFT marketplace, OpenSea, reported a 66.58% rise in trading volumes which reached $495 million. The total volumes across the entire NFT market increased by 58% in January. The number of active gaming wallets in January increased, but there was a notable 9.55% drop in unique daily addresses to 1,730,542.

Activity across different blockchains

WAX was the leading blockchain in terms of popularity. The blockchain’s daily unique active wallets were up 3.39% in January compared to the previous month. Alien Worlds and the Atomic Assets NFT marketplace were the top decentralized applications on WAX.

Polygon was one of the outstanding market performers, with a 124% increase in trading volumes and a 157.39% increase in sales. The growth of NFT volumes on Polygon was driven by the Donald Trump Cards NFT collection and the release of the Mocaverse Realm Ticket Pass.

Polygon ranked as the third most active blockchain in January, with 191,985 daily unique wallets. Polygon reported notable growth towards the end of 2022, but there has been a significant reversal since the beginning of the year. Polygon recorded a drop of 5.22% compared to the previous month.

The most popular DApps on Polygon were Planet IX and Benji Bananas. Planet IX reported significant growth in January, with a 44% gain. The DApp reached 141,580 unique active wallets in January.

Hive reported a 12.31% growth in daily unique active wallets and ranked as the fourth most active blockchain during the month. Splinterlands was the most active project on Hive, with a 5.87% increase in unique active wallets that reached 340,520 unique active wallets.

 

Ali Raza

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