Blockchain Gaming Investments Surge, Reaching $739M In Q1 2023: Polygon Emerges As Major Player

The blockchain gaming industry has witnessed a 12.95% surge in investments, reaching $739 million in Q1 2023, according to a report.

Despite a slight decline in on-chain gaming activity, the gaming industry remains a crucial contributor to the dapp industry’s overall activity, propelling innovation and progress, an analysis by DappRadar suggests.

Alien Worlds and Splinterlands were the top games in terms of user activity on their respective blockchain platforms, with Alien Worlds dominating 66% of WAX activity and Splinterlands claiming 99% of Hive activity.

Additionally, Polygon MATIC/USD has emerged as a prominent player in the blockchain gaming industry, ranking third in terms of activity in Q1 2023 with an average of 122,307 daily unique active wallets.

The report also highlighted that traditional Web2 gaming companies are recognizing the potential of blockchain technology and expanding into the blockchain industry, further fueling growth and advancements in the Web3 gaming space.

Also Read: Distrust In Crypto Skyrockets: Have Americans Abandoned The Future Of Finance?

Although there was a slight decrease in daily unique active wallets compared to the previous quarter, the overall dominance of blockchain gaming increased.

The emergence of Polygon as a major player and the success of Alien Worlds and Splinterlands indicate the potential for growth and innovation in the industry.

The increase in investments in blockchain gaming and metaverse projects, along with traditional gaming companies recognizing the potential of blockchain technology, suggest a promising future for the Web3 gaming space.

Overall, the Q1 2023 data analysis offers an optimistic outlook on the industry’s potential for growth and advancement.

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