Gamers made up nearly half of all blockchain activity in January: DappRadar Report
Play-to-earn blockchain gaming experienced a downturn over the last year as gamers prioritized improving the gameplay experience.
However, according to a new report from DappRadar, in the first month of 2023, gamers made up nearly half (48%) of all blockchain activity.
January also saw the market caps for top gaming tokens increase by 122% on average, with Gala (GALA), the digital utility token of the Gala Games ecosystem, surging by 218%.
According to the report, the rise in interest in these gaming tokens comes as industry buzz hits mainstream audiences. For example, Gala Games made headlines after it acquired a new mobile gaming studio with more than $20 million in assets under management and 15 games.
Blockchain analyst at DappRadar, Sara Gherghelas, told Cointelegraph that based on on-chain metrics from the past two years, it’s safe to assume blockchain gaming will continue to be a significant sector in the industry.
The Wax blockchain continues to have the most active gaming activity, with 331,000 unique active wallets. The top three blockchain gaming ecosystems all saw an increase in gaming protocols from the end of 2022 to the beginning of 2023, except for the BNB Chain.
The beginning of 2023 saw increased activity as strong funding set the stage for what many call blockchain gaming’s “buidling”year. This term encapsulates the industry’s focus on building more powerful, high quality games.
Gherghelas said the amount of investments toward this vertical is “increasing significantly,” with overall investment in 2022 around $7.6 billion — a 105% increase from 2021. Investments into the blockchain gaming industry topped $156 million in January alone.
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