NFT Gaming Quarterly Report: Part 1/2 - Data
At Charlie Gaming, we prepared a quarterly report for our readers from DappRadar and our partner Blockchain Game Alliance (BGA). We divided the report into two parts. One is more technical and the other is more about games.
Contents of Part 1 – Data:
1) Overview of the blockchain game industry.
2) Investments in GameFi reached 1.3 billion USD in Q3.
3) Have we reached the bottom for virtual lands?
4) The most used Web3 dApp: Gameta.
5) Benji Bananas increased daily unique users by 2,468%.
6) Move-2-Earn: the next big trend in blockchain gaming?
Top information from the report:
- The number of unique active wallets in NFT games is almost 50% of all blockchain users (912 thousand).
- VCs invested USD 1.3 billion in GameFi in Q3, but September investment was the lowest of the year with just USD 156 million. For the entire year 2021, VCs invested USD 4 billion.
- Gameta, the new Web3 games publisher at BSC, became the most used dApp in September.
- Move-2-Earn projects are gaining popularity even in a bear market.
UAW – Unique Active Wallets
1) Blockchain gaming industry overview.
In Q3, the average daily number of unique active wallets (UAW) in blockchain games was 912 thousand, which represents 48% of all blockchain activity.
Of the blockchains tracked, Solana is the only one that saw the UAWs number increase between Q2 and Q3. Nevertheless, only less than 5% of game activity takes place on Solana. For other blockchains tracked, the number of UAWs fell.
Flow is also worth mentioning, as it has seen an enormous increase in game activity in the last quarter. Flow has now reached almost 25,000 UAWs with casual games of Solitaire Blitz and Trickshot Blitz.
2) Investments in GameFi reached 1.3 billion USD in Q3.
During Q3, investors poured USD 1.3 billion into the blockchain gaming business. This is 48% less than in Q2. In September, invested funds fell to USD 156 million. The total amount of investments for this year is estimated to be USD 9.25 billion.
Despite the lower investment volume, it appears that the sector continues to grow. New major players are entering the market. For instance Hadean, a London-based infrastructure technology startup, has gained USD 30 million in funds to develop metaverse technology. It has also multi-year partnerships with Minecraft, Pixelynx, Sony and Gamescoin. Hadean aims to facilitate other companies’ transition to the metaverse market.
3) Have we reached the bottom for virtual lands?
USD trading volume of NFT lands decreased by more than 90% compared to Q2. However, the number of land sales decreased by only 37.5% to 52,000 compared to the previous quarter. This shows that interest in these types of projects has not completely disappeared and may be nearing its bottom.
Otherdeed by Otherside
Land by BAYC, Otherdeed, achieved USD 54 million in sales, down more than 90% from Q2. Otherdeed accounts for 3/4 of the total volume of virtual land deals in Q3. Additionally, in August, Eminem and Snoop Dogg performed in the Otherside metaverse at the annual presentation of music videos.
The Sandbox
While most metaverse projects have experienced a down period, The Sandbox's revenue rose 25% in September, although it's still down 73% from Q2. The Sandbox’s 3rd alpha season contributed to this, bringing more than 90 experiences, including The Walking Dead, Atari, Snoop Dogg, Steve Aoki, Ubisoft's Rabbids and Care Bears projects. The season saw over 4 million registered wallets and over 200,000 active monthly users.
NETVRK
Netvrk Land also saw an increase in sales. In September, these increased by 54% to USD 173 thousand, although this is still 62% less than in Q2. Netvrk Land closes the quarter under half a million for the first time, the lowest recorded volume of deals for a quarter.
4) The most used Web3 dApp: Gameta.
Gameta is a Web3 game publisher that was initially on Solana and now switched to BSC. It has been in testing since Q3 and currently offers seven games. Its daily number of UAWs increased by 109% to 69 thousand in September and by 253% compared to the previous quarter, making it the most popular dApp for September. It also surpassed PancakeSwap.
5) Benji Bananas increased daily unique users by 2,468%.
Benji Bananas was released in 2013. It's a simple yet engaging mobile game about swinging on a rope that anyone could download. In March 2022, the game's developers, Animoca Brands, announced the addition of Play-&-Earn in the form of Ape Coins (APE), which is linked to the Bored Ape Yacht Club ecosystem.
Benji Bananas had the most significant increase in UAW daily numbers in September, see the chart below. This increase was mainly due to the organization of a gaming tournament in which the winners received many valuable gaming NFTs.
6) Move-2-Earn: the next big trend in blockchain gaming?
Move-2-Earn (M2E) applications are becoming increasingly popular and are being used by players from all sorts of backgrounds. Thousands of people are attracted by motivation in the form of a reward for physical exercise. A clear example of how the M2E industry is doing is the most popular M2E dApp STEPN, with more than 3 million monthly users.
Sweat Economy
Another example is Sweat Economy, which switched from Web2 to Web3 solutions. In September, they launched the app via NEAR with the largest NFT airdrop in the protocol’s history. Together with that, they distributed SWEAT tokens to 13.5 million users. The Sweat Economy has been operating on Web2 since 2016 and has more than 120 million users worldwide.
Step
The latest shining example is the Step app, which will be released on December 1st for iOS and Android. This app combines gamification, augmented reality (AR) and economic motivation to attract the first users into its metaverse. In addition to Usain Bolt, one of the best sprinters ever, more than 45 million people have already pre-registered for the project.
Analyst opinion
Soon, there will be a rapid expansion and subsequent steep decline in the number of NFT games and development studios.
The data suggests that early participants in the Play-&-Earn industry should be closely monitored due to potential market growth dynamics. We are currently in a nascent stage with huge expansion potential. There are still many opportunities for improvement, so the industry is constantly evolving and innovating.
The future of NFT games is bright, and it is well on its way to becoming the number one area in Web3.
Source:
analyst opinion
Rocket Unit
At Charlie Gaming, we prepared a quarterly report for our readers from DappRadar and our partner Blockchain Game Alliance (BGA). We divided the report into two parts. One is more technical and the other is more about games.
Contents of Part 1 – Data:
1) Overview of the blockchain game industry.
2) Investments in GameFi reached 1.3 billion USD in Q3.
3) Have we reached the bottom for virtual lands?
4) The most used Web3 dApp: Gameta.
5) Benji Bananas increased daily unique users by 2,468%.
6) Move-2-Earn: the next big trend in blockchain gaming?
Top information from the report:
- The number of unique active wallets in NFT games is almost 50% of all blockchain users (912 thousand).
- VCs invested USD 1.3 billion in GameFi in Q3, but September investment was the lowest of the year with just USD 156 million. For the entire year 2021, VCs invested USD 4 billion.
- Gameta, the new Web3 games publisher at BSC, became the most used dApp in September.
- Move-2-Earn projects are gaining popularity even in a bear market.
UAW – Unique Active Wallets
1) Blockchain gaming industry overview.
In Q3, the average daily number of unique active wallets (UAW) in blockchain games was 912 thousand, which represents 48% of all blockchain activity.
Of the blockchains tracked, Solana is the only one that saw the UAWs number increase between Q2 and Q3. Nevertheless, only less than 5% of game activity takes place on Solana. For other blockchains tracked, the number of UAWs fell.
Flow is also worth mentioning, as it has seen an enormous increase in game activity in the last quarter. Flow has now reached almost 25,000 UAWs with casual games of Solitaire Blitz and Trickshot Blitz.
2) Investments in GameFi reached 1.3 billion USD in Q3.
During Q3, investors poured USD 1.3 billion into the blockchain gaming business. This is 48% less than in Q2. In September, invested funds fell to USD 156 million. The total amount of investments for this year is estimated to be USD 9.25 billion.
Despite the lower investment volume, it appears that the sector continues to grow. New major players are entering the market. For instance Hadean, a London-based infrastructure technology startup, has gained USD 30 million in funds to develop metaverse technology. It has also multi-year partnerships with Minecraft, Pixelynx, Sony and Gamescoin. Hadean aims to facilitate other companies’ transition to the metaverse market.
3) Have we reached the bottom for virtual lands?
USD trading volume of NFT lands decreased by more than 90% compared to Q2. However, the number of land sales decreased by only 37.5% to 52,000 compared to the previous quarter. This shows that interest in these types of projects has not completely disappeared and may be nearing its bottom.
Otherdeed by Otherside
Land by BAYC, Otherdeed, achieved USD 54 million in sales, down more than 90% from Q2. Otherdeed accounts for 3/4 of the total volume of virtual land deals in Q3. Additionally, in August, Eminem and Snoop Dogg performed in the Otherside metaverse at the annual presentation of music videos.
The Sandbox
While most metaverse projects have experienced a down period, The Sandbox's revenue rose 25% in September, although it's still down 73% from Q2. The Sandbox’s 3rd alpha season contributed to this, bringing more than 90 experiences, including The Walking Dead, Atari, Snoop Dogg, Steve Aoki, Ubisoft's Rabbids and Care Bears projects. The season saw over 4 million registered wallets and over 200,000 active monthly users.
NETVRK
Netvrk Land also saw an increase in sales. In September, these increased by 54% to USD 173 thousand, although this is still 62% less than in Q2. Netvrk Land closes the quarter under half a million for the first time, the lowest recorded volume of deals for a quarter.
4) The most used Web3 dApp: Gameta.
Gameta is a Web3 game publisher that was initially on Solana and now switched to BSC. It has been in testing since Q3 and currently offers seven games. Its daily number of UAWs increased by 109% to 69 thousand in September and by 253% compared to the previous quarter, making it the most popular dApp for September. It also surpassed PancakeSwap.
5) Benji Bananas increased daily unique users by 2,468%.
Benji Bananas was released in 2013. It's a simple yet engaging mobile game about swinging on a rope that anyone could download. In March 2022, the game's developers, Animoca Brands, announced the addition of Play-&-Earn in the form of Ape Coins (APE), which is linked to the Bored Ape Yacht Club ecosystem.
Benji Bananas had the most significant increase in UAW daily numbers in September, see the chart below. This increase was mainly due to the organization of a gaming tournament in which the winners received many valuable gaming NFTs.
6) Move-2-Earn: the next big trend in blockchain gaming?
Move-2-Earn (M2E) applications are becoming increasingly popular and are being used by players from all sorts of backgrounds. Thousands of people are attracted by motivation in the form of a reward for physical exercise. A clear example of how the M2E industry is doing is the most popular M2E dApp STEPN, with more than 3 million monthly users.
Sweat Economy
Another example is Sweat Economy, which switched from Web2 to Web3 solutions. In September, they launched the app via NEAR with the largest NFT airdrop in the protocol’s history. Together with that, they distributed SWEAT tokens to 13.5 million users. The Sweat Economy has been operating on Web2 since 2016 and has more than 120 million users worldwide.
Step
The latest shining example is the Step app, which will be released on December 1st for iOS and Android. This app combines gamification, augmented reality (AR) and economic motivation to attract the first users into its metaverse. In addition to Usain Bolt, one of the best sprinters ever, more than 45 million people have already pre-registered for the project.
Analyst opinion
Soon, there will be a rapid expansion and subsequent steep decline in the number of NFT games and development studios.
The data suggests that early participants in the Play-&-Earn industry should be closely monitored due to potential market growth dynamics. We are currently in a nascent stage with huge expansion potential. There are still many opportunities for improvement, so the industry is constantly evolving and innovating.
The future of NFT games is bright, and it is well on its way to becoming the number one area in Web3.
Source:
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