A new report from DappRadar shows that gaming is key to the success of blockchain. The survey said that the gaming sector accounts for 50.51% of the blockchain industry month-over-month as of August 2022. Despite this success, that number actually represents a decrease from the previous month, when the gaming sector comprised 57.30% of the blockchain market.
The data compiled by DappRadar is based on the number of daily Unique Active Wallets (UAW) in the blockchain space. According to the surveyor, there are over 847,000 gaming-related UAW that are accessed on a daily basis which generates $698 million in transactions.
“The best blockchain games keep their player base, which demonstrates actual engagement at the top of the rankings,” reads DappRadar‘s report. “In addition, investments in metaverse and blockchain-based gaming businesses continue to rise. It is worth mentioning that even if the dominance of games for the UAW has decreased from 57.30% to 50.51% MoM, it still represents a good indicator for the sector.”
Even with the ongoing Crypto Winter, the blockchain sector is still poised for immense growth over the next few years. According to a June 2022 study from Fortune Business Insights, the global blockchain market will be worth over $163 billion by 2029.
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