Cryptocurrencies

Blockchain gaming saw investments totaling $988 million in April, which is…

Blockchain gaming saw investments totaling $988 million in April, the highest level since January 2021. The number of unique active wallets daily reached a record 2.9 million for blockchain games.

DappRadar, in partnership with the Blockchain Gaming Alliance, released its April blockchain gaming report on May 17. The sector’s decentralization month is accompanied by similar trends in the overall decentralized applications (Dapp) market.

According to the report, the recent boon can be attributed to several factors including consumers’ renewed interest in digital assets in the context of gaming:

“The trend of live streaming continues to drive interest in blockchain gaming. In addition, the current buzz in the Web3 industry is focused on the proliferation of new gaming codes.

Among blockchain gaming platforms, Ronin’s “Pixels” led it to the top spot this month. Former market leader Polygon was left in the silver slot off the strength of its games catalog which includes Matr1x and QORPO WORLD.

source: Dub Radar.

To say that April was a high-water mark for blockchain gaming would be an understatement. The first quarter of 2024 saw a total of $288 million in blockchain gaming investments. April investments alone more than tripled that amount, stopping just $22 million from reaching $1 billion.

The report also noted that the shift began showing signs of positive growth in April. Among the top Metaverse-related NFT collections, Mocaverse has achieved $8.4 million in trading volume, figuratively blowing away the competition. The next closest stock in terms of trading volume was Farmland by Pixels with $1.48 million. Otherdeed by Otherside also broke the $1 million mark, translating to $1.02 million in turnover.

Per DappRadar:

“Despite facing significant challenges, including the industry-wide impact of 20,000 layoffs, the blockchain gaming sector is showing strong signs of recovery and growth.”

It’s also worth noting that recent moves by major players in the gaming industry like Ubisoft and Square-Enix could indicate significant upside for the sector. “Blockchain gaming received a major boost in April of this year,” the report’s authors wrote, before concluding that the sector “has been revitalized and appears poised to benefit from new technologies and innovations.”

Related: Gaming PCs will become DePIN contributors through this Web3 platform

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