Investing in Tomorrow’s Playgrounds: Web3 Gaming & Metaverse Attract $297M

July’s exploration of the dynamic world of blockchain gaming and the metaverse has unveiled a landscape ripe with potential and rapid evolution.

As significant investments pour in and major players like Google recognize the profound impact of Web3 gaming, the industry is primed for transformative shifts. We take a look at DappRadar’s latest report to bring you the gist of what you need to know.

TL;DR

• Blockchain gaming accounted for 41% of on-chain activity with WAX leading in unique active wallets.
• CyberKongz partnership with Ronin and Mighty Bear Games’ shift to Arbitrum shaped Ethereum L2’s gaming landscape.
• Virtual world trading volumes hit a low, while Google’s Play Store prepares to embrace web3 gaming with restrictions.

Metaverse Gaming Looking Good: DappRadar’s Latest Industry Report

DappRadar’s comprehensive report delves into the essential events, pivotal decisions, and critical data from the past month, presenting a vivid portrayal of a future being actively crafted at the convergence of gaming, blockchain technology, and the expansive metaverse.

Key Highlights

1. Blockchain Gaming Overview
   • Blockchain gaming constituted 41% of on-chain dapp activity in July, with 712,611 daily unique active wallets (dUAW).
   • WAX took the lead with 300,325 dUAW, showcasing its prominence within the gaming domain.
2. Ronin & CyberKongz Partnership: Pioneering Genkai’s NFT and Gaming Future
   • The Ethereum-based NFT collection, CyberKongz, unveiled a segment of its upcoming anime-inspired Genkai NFTs on the Sky Mavis blockchain.
   • CyberKongz also plans to transition its “Play & Kollect” on-chain community from Polygon to Ronin, solidifying the bond.
3. Ethereum L2’s Gaming Pivot: Arbitrum’s Rising Stardom
   • Mighty Bear Games migrated its “Mighty Action Heroes” game from Polygon to Arbitrum, adding momentum to the Arbitrum gaming platform.
   • TreasureDAO achieved a transaction volume of over $842,000 from 73,580 transactions within a month on Arbitrum.
4. July’s Gaming Leaders
   • Sweat Economy became the most played game dapp in July, attracting over 739,000 monthly UAW.
   • Virtual world trading volumes hit a year-low in July at $5.6 million from 10,796 land sales.
5. The Hype Around Virtual Realms Is Over?
   • Trading volumes for virtual worlds also dipped in July, mirroring a decline seen in the previous month.
   • Top virtual world dapps like Otherdeed for Otherside and Otherdeed Expanded dominated the trading volume.
6. Fueling the Future: $297M Web3 Gaming Investments
   • Web3 gaming investments rebounded to $297 million in July, with 63% directed towards infrastructure projects.
   • Investments also demonstrated faith in the potential of the metaverse and virtual worlds. This is despite observed industry downtrends.
7. Google’s Web3 Welcome: Unveiling the Play Store’s New Playbook
   • Google welcomes web3 gaming into its Play Store later this year, albeit with certain stipulations.
   • Google’s move also reignites interest in NFT exploration among mobile gaming studios.

Final Thoughts On The Industry

The findings from July’s deep dive into the realm of blockchain gaming and the metaverse underline a prevailing optimism. Despite market fluctuations, the considerable investments and Google’s recognition of Web3 gaming underscore the growing acceptance and integration of blockchain technology into mainstream platforms.

Notably, the adoption of platforms like Ronin for significant ventures reaffirms that blockchain’s presence in the gaming universe is more than a passing trend; it’s a transformative shift that’s actively shaping the future. As we proceed into the upcoming months, close monitoring of how these investments translate into product innovation, user engagement, and market growth will be essential. The intersections of gaming, blockchain, and the metaverse aren’t just shaping the future; they’re actively building it.