The blockchain gaming industry over the past years has seen increased popularity, especially with the concept of play-to-earn. A Q1 blockchain gaming report reveals that the industry has grown in dominance despite a slight decline in daily unique active wallets (dUAW) interacting with gaming dapps on-chain.
Over the past quarter, the blockchain gaming industry has demonstrated an 8.58% decrease in dUAW, with an average of 865,783 active wallets connected. In March alone, the number of daily unique active wallets interacting with gaming dapps on-chain was 741,567, which is a decrease of 3.33% from the previous month.
Notwithstanding the Blockchain gaming decline in dUAW numbers, the industry’s growth in dominance wouldn’t be left unnoticed. Report shows that the industry’s dominance increased from 42.87% in Q4 of 2022 to 45.60% in Q1 of 2023. This is a bullish sign for the industry, indicating that it is becoming a bigger part of the Web3 ecosystem.
It is noteworthy that the blockchain gaming sector is still in its infancy and that it is constantly changing. Despite the difficulties and setbacks it is currently facing, it has shown to be resilient, and the rising trend in dominance points towards a potentially promising future. The gaming sector is anticipated to grow rapidly in the upcoming years as more gamers and investors continue to realize and utilize the advantages of blockchain technology.
As the sector grows, bad actors are also gaining ground and coming up with innovative yet dastard means of ripping unsuspecting victims of their crypto assets. Earlier in the year, the US law enforcement agency, the Federal Bureau of Investigation (FBI) revealed a new way bad actors use in stealing users’ funds.
This new scam involves convincing unsuspecting victims to download a PlayToEarn game and connect their wallets giving permission to play the game. This permission unknowingly also gives the game creator the privilege to withdraw funds from the wallet of the victims.
Read also;
Top Five Social DApps- Q1 Report
What do you think of this article? Share comments below.
