Despite facing challenges, the blockchain gaming sector has made significant advancements this year. The number of unique active wallets (UAWs) in this space surged to approximately 1.15 million daily, representing nearly half of blockchain's overall activity. The total transaction count saw a remarkable increase of 94.17%, reaching an impressive 7.44 billion, noted DappRadar. In Brief With Ethereum maintaining roughly 60% of the market share in secondary trading of in-game NFTs, networks like Solana, Polygon, and Immutable X have also made considerable strides.

web3 blockchain gaming DappRadar identified Splinterlands and Alien Worlds as the top two games based on the number of unique active wallets, while overall funding for blockchain gaming projects has notably slowed this year.

According to DappRadar, the most well-funded companies are those creating high-quality games that effectively utilize blockchain technology.

Positive developments in blockchain gaming

Source: DappRadar dappradar gaming The play-to-earn (P2E) games have seen a substantial drop in value this year, with many losing upwards of 90% of their market capitalization in 2022. Currently, several developers are aiming to shift the perception that blockchain games are merely profit-driven. They are now focusing on enhancing gameplay experiences, adopting a free-to-own model, and creating enjoyable games that offer ownership and immersive experiences—all trends that will likely continue into 2023.

Over the last year, the landscape of blockchain gaming has transformed drastically. In 2021, the industry attracted a massive wave of investors excited by the potential of P2E games, but unfortunately, many models fell short. These web3 games turned into speculative tools for investors hoping to double their money, leaving the actual gaming experience in the background.

Jason Dooney, the Chief Product Officer of a blockchain game, shared his observations on the shift away from a P2E-focused model.

Dooney noted that, despite the rough market conditions, this situation has opened up a compelling opportunity for established projects to thrive and for the web3 gaming ecosystem to evolve.

"We believe that next year will bring a wave of new releases from studios that embrace technological advancements and prioritize the player experience. Innovative models that reward user-generated content and provide engaging gameplay will come to the forefront. Additionally, we anticipate the rise of AI-driven content, which will drive ongoing innovation throughout the upcoming year,\" stated Wojciech Kaszycki, CEO of Legends At War, in an interview with Metaverse Post.

Source: DappRadar Ethereum has been the most popular Utilizing generative AI can significantly enhance player engagement by tailoring experiences to individual skill levels, ensuring unique and satisfying gameplay for everyone. This represents just one example of how emerging technology is elevating the gaming experience.

DappRadar's research concluded that although the blockchain gaming sector faces several hurdles, such as issues with scalability and economic structuring, it is strategically positioned for significant growth and broader acceptance in the near future. blockchain used for gaming “The

Top 10 NFT Tracking Tools to Monitor Exciting and Emerging NFT Projects in 2022. blockchain gaming market The Solana NFT collection 'Okay Bears' has achieved a record-breaking milestone, reaching the top spot on OpenSea.

Legends At War

A Comprehensive Guide to Yield Guild Games (YGG): A Community for Players and Investors Engaged in Play-to-Earn.

An Introductory Guide for Beginners to Illuvium (ILV): Navigating the NFT Game Experience.

Please be aware that the information on this page is for informational purposes only and should not be interpreted as legal, tax, investment, or financial advice of any kind. It’s crucial to only invest what you can afford to lose and to seek out independent financial advice if you have any concerns. For more details, we recommend checking the terms and conditions and support resources provided by the issuer or advertiser. MetaversePost strives to deliver accurate and unbiased reporting, but be mindful that market conditions can change unexpectedly.

, told Metaverse Post.

• Agne is a journalist dedicated to covering emerging trends and developments across the metaverse, AI, and Web3 sectors for Metaverse Post. Her enthusiasm for storytelling drives her to conduct numerous interviews with industry experts, always in search of captivating narratives. Agne possesses a Bachelor's degree in literature and has a diverse background encompassing travel, art, and culture writing. She has also volunteered as an editor for an animal rights organization, working to elevate awareness surrounding animal welfare. You can reach her through
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Agne Cimerman

Agne Cimerman