The blockchain gaming industry has experienced impressive growth in October 2023, as highlighted in a report by DappRadar and the Blockchain Gaming Alliance. With a milestone of 1 million daily unique active wallets (dUAW), the industry has seen a 16% increase compared to the previous month. This significant figure accounts for one-third of the overall industry activity, demonstrating the increasing importance of the gaming sector within the Web3 environment.
WAX has emerged as a leading platform in gaming activity, boasting 406,030 daily UAW and an 8% increase from September. This growth can be attributed to popular games like Alien Worlds. BNB Chain also experienced a 13% rise in dUAW during the same period. However, other platforms such as Klaytn, Solana, and Arbitrum witnessed a slight decline in gaming activity. On a positive note, zkSync Era recorded a 6% uplift. Meanwhile, Polygon’s daily unique active wallets have grown by 5%, reaching a total of 93,018, indicating sustained growth.
Several games have either maintained or expanded their user base in October. Alien Worlds continues to hold its position as the most used gaming dapp, with over 133,000 daily UAW. Another noteworthy development is the debut of Sweat Economy in the United States, solidifying its position in the move-to-earn sector. Additionally, Splinterlands has introduced new features, including the “Immolation” card and the Rebellion pre-sale, in anticipation of land gameplay to engage its community. Similarly, Nine Chronicles has unveiled Ecosystem 2.0 to enhance the game’s accessibility and economic systems.
The virtual world space has also exhibited promising trends, with a 19% increase in trading volumes since September, amounting to $3.8 million. Furthermore, land sales have shown an upward trajectory with a growth rate of 17%, accumulating to 10,822 transactions in October. Nicola Sebastiani, the newly appointed Chief Content Officer of The Sandbox, emphasizes the growing importance of user-generated content and the shift towards a creator-centric economy in the gaming and metaverse industries. The Sandbox is actively working on initiatives such as self-publishing for landowners and a mobile app set to launch in 2024.
Despite a slight decline of 4% from the previous month, the total Web3 gaming investments in October reached an impressive $154 million. This figure indicates a continued interest from investors in the blockchain gaming and metaverse sectors, even during an extended bear market. Notable investments include Animoca Brands’ strategic alliance with the NEOM Investment Fund, involving a $50 million venture to amplify Web3 enterprise services. In addition, WEMIX, a subsidiary of Wemade, has committed $30 million to five Chinese game developers, aiming to diversify its blockchain gaming portfolio and integrate these games into the WEMIX PLAY platform.
The latest report from DappRadar in October 2023 highlights the remarkable growth and potential of Web3 gaming. The increase in daily unique active wallets and continued investments are clear indicators of its rising influence in digital entertainment. With user-focused features and strong market interest, the blockchain gaming industry is carving out a significant role within the Web3 environment. As this sector continues to evolve and innovate, it is set to create new opportunities and shape the future of gaming and the metaverse.
