GameFi continues to grow despite crypto winter: DappRadar report
The report seems to show that turbulence in the crypto markets has failed to rattle investments and forward movement of several GameFi and metaverse projects. Blockchain games were the subject of the latest DappRadar x BGA Games Report #5, published on Tuesday. The report looked at healthy ecosystems and investments coming into the GameFi and metaverse markets.Several projects were covered in detail in the report, which outlined their continued success and growth. Splinterlands, Illuvium, Galaverse and STEPN have continued to bring new players to their platforms, gain financial interest....
Related News
The top 100 DeFi tokens showed signs of recovery after last week’s mayhem, and many of the these tokens registered double-digit gains. This past week, the decentralized finance (DeFi) ecosystem tried gaining some momentum amid the bear market crash. Uniswap saw a trend reversal and overtook Ethereum regarding network fees paid. However, not all DeFi protocols were as lucky, as Bancor had to pause its “impermanent loss protection” in the wake of a hostile market.DappRadar’s report shows that the GameFi ecosystem continues to thrive despite the current downturn in the market. Solend....
A new staking mechanism through RADAR token has been created that is set to minimize gas fees and support recurring APR across multiple blockchains. DappRadar and omnichain interoperability protocol LayerZero have launched a new token to enable cross-chain staking across multiple blockchains and Ethereum Virtual Machine (EVM)-compatible networks — a move designed to minimize fees and increase access to staking opportunities.The functionality for the newly launched RADAR token is provided through a set of smart contracts, DappRadar said. One of the contracts is known as the controller and....
While roughly half of the investors joined the GameFi space initially for profits, 89% of GameFi investors succumbed to Crypto Winter 2022. GameFi, the fusion of gaming and decentralized finance (DeFi), attracts a set of investors that tend to choose projects based on their use case rather than money-generating potential.The GameFi ecosystem attracts GenZ investors and gaming enthusiasts. As a result, it stands as an entry point for numerous first-time investors. A ChainPlay survey participated by 2428 GameFi investors revealed that 75% of the respondents joined the crypto space solely....
The gaming sector accounts for nearly 51% of the activity in the blockchain industry with hundreds of millions in transactions, according to August data. New data from DappRadar suggests that gaming remains a vital organ to the blockchain industry. According to the report, the gaming sector accounts for approximately 50.51% of industry usage month-over-month (MoM), as per August numbers.While overall the numbers are a good indicator for the sector, it is a decrease from the previous month. Last month, the gaming sector made up approximately 57.30% of industry usage (MoM).The data from....
New industry report on the GameFi landscape traces its development from the embryonic stages to an established industry. Blockchain games are set to overtake decentralized finance (DeFi) as the number one contributor to decentralized application (DApp) activity in terms of uniquely active wallets. A new 18-page report by DappRadar surveys the nascent ecosystem behind this rise. Although still dwarfed by the traditional gaming industry, blockchain games, sometimes dubbed GameFi, have seen an early spurt of exponential growth, according to the report’s data.“The evolution of blockchain....