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Blockchain Gaming Space Remains Resilient Through Crypto Bear Market

Despite the so-called “crypto winter,” blockchain gaming has managed to not only survive the bear market, but also remain on track for future success. According to the Blockchain Game Report from analytics site DappRadar, game decentralized apps (dApps) now account for 52% of the total dApp industry activity.

The Web3 gaming, play-to-earn metaverses have also seen sizeable investments during this down period, which signal a positive outlook. In May 2022 alone, $1.4 billion was pumped into the industry, despite the markets trending downward.

But it’s ultimately the unwavering fan bases that have kept these games on top. Splinterlands remains the top blockchain game with 350,000 daily UAW, and despite the Ronin bridge hack, Axie Infinity’s on-chain activity in May 2022 was still 55% higher than May 2021.

“Blockchain gaming is proving to be a true survivor during this bear market,” the report concludes. “We are on the cusp of finally seeing a good amount of blockchain games with truly immersive game mechanics that take entertainment to the next level. We will complete the transition from play-to-earn to play-and-earn.”

(All information was provided by FinanceFeeds)

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