Home NFT Blockchain Gaming And Metaverse Initiatives Raised $1.3 Billion In Q3 2022, Says Report

Blockchain Gaming And Metaverse Initiatives Raised $1.3 Billion In Q3 2022, Says Report

by Lottar

Blockchain games and metaverse projects raised an astonishing $1.3 billion in the third quarter of 2022, reveals the latest BGA gaming report for the third quarter of 2022 by DappRadar.

Web 3.0 games, the report says, remain a “driving force for the dapp business despite challenging market conditions”.

DappRadar analyzed Blockchain activity across 50 networks. It found that in September 2022 alone, approximately 912,000 daily unique active wallets (UAWs) interacted with games’ smart contracts.

According to the report, Hadean, a metaverse company, has built essential metaverse components and entered into multi-year partnerships with entertainment, education and business digital twin service providers. These include Minecraft, Pixelynx, Sony and Gamescoin, among others.

“This new round of investment will accelerate Hadean’s ability to equip producers in new and evolving metaverse marketplaces with the tools to transform every element of how we work, build, buy and consume,” the report said.

The two Web 3.0 games, Alien Worlds and Splinterlands, saw over 160,000 daily UAWs in September 2022. The same month, UAWs on the gaming platform Gameta, which was first launched on Solana, and is now also available on the BNB chain, exceeded one million per day.

Likewise, “Polygon-based Benji Bananas climbed the rankings during the last quarter, attracting more than 29,000 daily UAWs in September,” the report adds.

The influence of Blockchain gaming is also visible in the non-fungible token (NFT) market, where the gaming group Gods Unchained cracked the top-5 collections by trading volume in September. His gaming assets have generated more than $18 million.

Additionally, the Blockchain gaming industry increased average daily UAW by 8 percent to 912,000 in September 2022, accounting for 48 percent of Blockchain activity, a highly positive indicator for this category, according to the report.

“The volume of investments shows that despite the challenging and uncertain conditions in the digital asset markets, major investment entities remain positive on the Blockchain gaming industry,” the report added.

The term ‘metaverse’ is often used to refer to what many believe will be the next major paradigm in how we use digital technology and networks to communicate, collaborate and have a variety of virtual experiences.

It is not a single technology, equipment or service offered by a single business. It is the result of the amalgamation of several separate technologies, all of which are rapidly maturing enough for widespread use.

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