DappRadar x BGA Games Report #20
With October behind us, we’ve entered the final quarter of 2023 and we find the blockchain gaming and metaverse sectors at a pivotal juncture. We may have reached the bottom, as various projects gained traction in the past month. Moreover, trading activity surrounding metaverse projects has seen a serious uptick. Game over? Absolutely not!
Key Takeaways
- Blockchain gaming reached 1 million dUAW, commanding 33% of this month’s industry activity.
- WAX remains the leading blockchain ecosystem for gaming activity with 406,030 daily UAW.
- Celo blockchain sees a 538% increase in its gaming activity this month, showcasing growing interest in its gaming offerings.
- Alien Worlds is the most used gaming dapp, surpassing 133,000 daily UAW.
- October’s virtual world dapps saw a 19% rise in trading volume to $3.8 million, and a 17% increase in land sales with 10,822 transactions.
- In October Web3 gaming investments reached $154 million, a 4% drop from the previous month.
Table of Contents
- Blockchain Gaming Overview
- Pixels’ move to Ronin spurs surge in Unique Active Wallets
- October Gaming Leaders
- Virtual world markets: rising volumes and land sales
- $154 million Web3 gaming investments
- Closing words
1. Blockchain Gaming Overview
The blockchain gaming sector has not only sustained its robust momentum, but has also expanded its prominence within the Web3 ecosystem. October 2023 has been a landmark month with daily unique active wallets (dUAW) soaring to an impressive 1 million, a significant 16% increase from the previous month. Gaming’s stronghold is evident, commanding 33% of the industry’s activity this month, signaling its unassailable dominance in the blockchain space.
WAX solidified its top spot with 406,030 dUAW, marking an 8% increase from September. Its resilient performance is largely driven by the enduring popularity of titles like Alien Worlds, alongside the platform’s extensive roster of over 150 gaming dapps.
NEAR Protocol made a remarkable leap, registering a 34% jump to 229,603 dUAW, while Celo‘s staggering 538% explosion to 198,165 dUAW driven by the success of the new game BLCR (Battle Left Center Right).
BNB Chain also posted gains with a 13% increase to 178,814 dUAW, showcasing sustained growth. Klaytn, however, experienced a slight decline, with a 6% decrease in its dUAW.
Skale Network, with its backing of games like CryptoBlades and 5TARS, continued its upward trajectory with a 46% surge in dUAW, peaking at 126,457. Polygon’s steady growth is reflected in a 5% increase to 93,018 dUAW.
Solana and Arbitrum showed a slight contraction in gaming activity, with Solana dipping by 2% and Arbitrum by 1%. Meanwhile, zkSync Era is on an upward trend with a 6% rise, albeit on a smaller scale compared to its counterparts.
As the end of the year approaches, the industry’s trajectory points to an even more vibrant and dynamic market, with emerging blockchains poised to challenge the status quo. For those looking to keep a finger on the pulse of this exciting domain, DappRadar’s Rankings offer a detailed and up-to-date look at the ever-evolving landscape of blockchain gaming.
2. Pixels’ move to Ronin spurs surge in Unique Active Wallets
In a strategic pivot that has reverberated through the blockchain gaming community, Pixels made a significant transition to Ronin Network this October. This move by Pixels, a popular game renowned for its vibrant virtual landscape and engaging gameplay, has catalyzed a remarkable surge in the number of Unique Active Wallets (UAW) on Ronin.
The migration to Ronin is a testament to the network’s growing reputation as a go-to platform for games seeking scalability and an engaged community. Known for its user-friendly environment and low transaction fees, Ronin has become increasingly attractive to game developers and players alike.
This transition underlines a key trend in the blockchain gaming industry: the pursuit of networks that offer better performance and a seamless user experience. This could be seen as well as an indicator that adaptability and strategic network choice are pivotal to a game’s popularity and success within the blockchain gaming ecosystem.
Moreover, where console creators can attract game studios with marketing and publishing support, blockchain ecosystems have a similar role. The right proposition and reputation can attract more developers to deploy games on a certain chain, shaping the role of blockchain networks within the wider Web3 gaming ecosystem.
3. October Gaming Leaders
Shifting focus from blockchain infrastructure to the games themselves, let’s delve into October’s top-performing Web3 games based on Unique Active Wallets (UAW).
Alien Worlds stands out at the forefront, continuing its streak as the game with the highest number of UAW. This shows a sustained interest and engagement in the game’s ecosystem, signaling a strong community and a well-maintained platform.
Sweat Economy, already the largest move-to-earn application in the Web3 space, further bolstered its position by expanding into the United States. This strategic extension has resulted in a surge of UAW, reflecting the app’s growing popularity and adoption.
Splinterlands had launched several updates enhancing the gaming experience. The introduction of the “Immolation” card and the Rebellion pre-sale represent just the tip of the iceberg. With land gameplay on the horizon, Splinterlands wants to revitalize its community with fresh gameplay and mechanics.
Nine Chronicles has implemented sweeping updates with its Ecosystem 2.0 initiative. These updates mark a significant step towards broadening the game’s accessibility and enhancing its economic mechanisms. Expansion to multiple platforms and the introduction of mobile versions have opened new horizons for the game. The Rune System and the Project D:CC PFP NFT Collection have introduced new ways to utilize the game’s native currency, NCG. The transition to multichain support, starting with the BNB Chain, and the switch to a Proof-of-Stake system demonstrate a forward-thinking approach to scalability and sustainability. Moreover, the launch of Solarium Labs signifies an investment into the future of Web3 gaming and the utility of NCG.
In summary, October has been a month of significant activity and growth for these leading Web3 games. The increases in UAW, strategic expansions, and continuous updates underline a thriving sector poised for further innovation and success.
4. Virtual world markets: rising volumes and land sales
October seemed to have broken the downward trend in the trading and selling of virtual world items witnessed in the past month, as this month we’ve witnessed increases in comparison to last month. The trading volume this month reached $3.8 million, a 19% increase from September. Additionally, land sales saw an uptick, with 10,822 transactions marking a 17% rise from the previous month.
There were few developments in key leading virtual world dapps this month:
Decentraland’s AI World Fair:
From October 25 to 27, Decentraland hosted the first-ever AI World Fair, a significant event that brought together experts in fields ranging from Web3 and gaming to fashion, art, and robotics. Over 40 speakers, including Dr. Ben Goertzel of Singularity.NET and Yasmina Benkhoui from NVIDIA, participated in discussions about the future of AI. Noteworthy sessions included NVIDIA’s talk on generative AI in gaming and a fireside chat with Sebastien Borget of The Sandbox, discussing the impact of AI on community-driven platforms.
Strategic Developments in The Sandbox:
The Sandbox appointed Nicola Sebastiani as its Chief Content Officer, bringing his extensive experience from companies like Apple and PlayStation Studios to the platform. Sebastiani emphasized the importance of user-generated content and the shift towards a creator economy in the gaming and metaverse industry. Additionally, The Sandbox is making strategic moves, as they introduced self-publishing for landowners and their mobile app will be launched 2024.
These developments indicate a vibrant and evolving landscape for the virtual worlds and the broader metaverse ecosystem.
5. $154 million Web3 gaming investments
October 2023 has ushered in the final quarter of a year notable for enduring one of the most extended bear markets. However, this period has not dampened the spirits of investors in the blockchain gaming and metaverse sectors. Remarkably, this month witnessed an injection of $154 million into these innovative domains.
Over the past three months, a discernible trend has emerged, focusing on infrastructure investments. Predominantly, the funds have been channeled towards Web3 gaming studios. This trend is particularly noteworthy as it lays the foundation for the potential emergence of top-tier games in the blockchain realm.
Two key investments stood out this month, highlighting emerging trends in the blockchain gaming sphere:
Animoca Brands and NEOM Partnership: Animoca Brands, a major player in blockchain gaming, announced a strategic partnership with NEOM Investment Fund involving a $50 million investment. This collaboration aims to enhance Web3 enterprise services, contributing to technology advancements in Riyadh and the NEOM region. Animoca Brands’ frequent involvement in such partnerships underscores the increasing importance of blockchain gaming.
WEMIX’s Investment in Chinese Game Developers: Wemade’s subsidiary, WEMIX, invested in five Chinese game developers through a $30 million fund. These investments are geared towards diversifying the blockchain gaming portfolio, with projects ranging from MMORPGs to card strategy and sports games. These games will integrate into WEMIX PLAY, the company’s blockchain gaming platform. WEMIX’s commitment to Chinese projects further highlights the potential dominance of Asia in the blockchain gaming market.
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6. Closing words
In October the gaming sector witnessed a remarkable increase in daily unique active wallets, reinforcing its status as a pivotal component of the Web3 ecosystem. The movement of Pixels to Ronin has sparked a significant rise in user engagement for the network, underscoring the impact that strategic migrations can have on platform dynamics.
The leaders in gaming for the month showcased the ever-present innovation within the space, with games like Splinterlands and Nine Chronicles pushing the envelope in gameplay and platform development.
Investments in blockchain gaming infrastructure and studios have remained robust, pointing to a future where high-caliber games could become the norm. This flow of capital, even amidst challenging economic conditions, is a testament to the sector’s resilience and the confidence of investors in the promise of blockchain technology.
As we move towards the end of 2023, the interplay between these various factors—from UAW growth and strategic game migrations to investment trends and metaverse developments—paints an intricate picture of an ecosystem that is both diverse and interconnected.
The report underscores a vibrant gaming community, continued technological advancements, and a steadfast commitment to innovation as we continue to navigate the vast and ever-evolving landscape of blockchain gaming and the metaverse.
