DappRadar Report: Blockchain Games Dominate DApp Industry

The well-known market tracker, DappRadar, and the Blockchain Game Alliance (BGA) published the Blockchain Games report for the first quarter of 2022 this past Wednesday.

The latest report follows a report published in February which stated that $720 million had been invested into blockchain games and infrastructures. The latest investment figure for Q1 stands at $2.5 billion. The report also shows that venture capitalists and other investors raised $4 billion in 2021.

Animoca Brands was mentioned in the report as it raised $360 million, bringing its valuation to $5 billion as well as making Animoca Brands a leading Web3 brand. Other deals listed in the report include Sequoia Capital with its $450 million-dollar investment in Polygon (MATIC), and Yuga Labs which received $450 million in funding.

According to DappRadar, 1.22 million unique active wallets were created in the Blockchain Gaming industry in March, and more than half of the activity in the industry came from gaming applications and decentralized applications that include a play-to-earn (P2E) incentive.

The report also showed that Splinterlands is the number one play-to-earn decentralized application and Polygon is the Layer2 sidechain with the most played P2E games, namely Arc8, Aavegotchi, Crazy Defense Heroes and Pegaxy.

Axie Infinity (AXS) is among the top 10 most played games when looking at daily usage. The report did however point out that the number of unique active wallets linked to Axie Infinity decreased following the $650 million hack of the Ronin Bridge earlier this year in February.