From the sidelines, most viewers would think that the crypto industry has just imploded to levels that mean there is no turning back. However, the picture is much brighter. The case for complete decentralization and true DeFi is stronger than ever. While gamers continue to play and find use in the decentralized apps tracked by DappRadar. Blockchain gaming has shown the highest resistance throughout the current bear market cycle. Give end users more than token speculative investments. Dapps are becoming the new app, and that’s precisely what DappRadar has bet on.
FTX collapse is not interesting
From a gaming or NFT angle, those entering the crypto space may care about something other than the collapse of Alameda and centralized exchange FTX. They may have to find out who Sam Bankman Fried is and why the collapse of Alameda and FTX is like this. a big problem. Why should they? Unless your tokens were held on FTX, which is unlikely as most blockchain games have internal markets and participation options for their players, meaning storing tokens in a blockchain wallet is vital. Players must have learned the hard lessons – not their keys or cryptography- without even realizing it.
Gamers will keep playing
The numbers don’t lie, and as the world unravels the story of a cryptocurrency billionaire on the run, gamers do what they do best: play games, earn rewards, and build gateways to the crowd. Blockchain Adoption. Below we look at seven days of data for blockchain gaming, ranked by the number of unique active wallets connected to a DApp. The numbers are week by week, so it shows an increase or decreases over seven days. Games show a positive uptick in usage, while others show smaller downtrends, which is standard when you look at the data week-over-week. Another strong argument is that it makes more sense to play blockchain games at a time when tokens have little value since anything collected today can be redeemed later at cheaper rates.
What are people playing?
Many of the biggest titles in the Web3 gaming space have seen an increase in Unique Active Wallets (UAW) interacting with their apps compared to last week. Alien Worlds regularly tops DappRadar’s game rankings and added nearly 69% more UAWs than the previous week. 490,620 UAW have connected to Alien Worlds in the last seven days. Casual mobile games have generally had a good week. GAMEE’s Solitaire Blitz and Arc8 have expanded their UAW connections.
GAMEE’s Arc8 UAW connections increased by 96.27% to 50,480. These stats only show one week’s worth of data, so we need more information to say that any DApp will affect the events in FTX. Also, at this point, it is encouraging to see that many areas of the blockchain industry are still operating, growing, and creating. You can read our ongoing analysis of which DApps are safe from the consequences of FTX here.
Builders keep building
Everyone on Web3 was affected in one way or another by what happened on FTX. At the very least, people’s confidence in the industry will be shaken, and they will wonder what these events could lead to. Fortunately, Star Atlas CEO Michael Wagner has an eye on the future. Even though his game is based on Solana, he still believes the network is the best place for his platform to grow. Meanwhile, The Sandbox, another big player in Web3 gaming and the entertainment industry just announced another partnership that promises to help the platform grow.
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