Assessing Gaming dApps’ Popularity Amid Broader Market Drawdown

Following an impressive performance in the first quarter of 2023, the Web3 gaming industry experienced a significant drop in activity throughout April. According to DappRadar data, the blockchain gaming landscape had 546,458 unique active wallets (UAW) as of April 26th, a 28% decrease from the previous month.

The volume, or the incoming value to gaming dApps’ smart contracts, fell 35% month on month. Despite the lull in the broader market, some gaming dApps continued to gain popularity, as DappRadar highlighted.

The mechanics or backend of blockchain games incorporate blockchain technology. One feature that promotes the acceptance and application of blockchain technology in games is the ability of players to store objects on the blockchain.

Alien Worlds, Farmers World, and Splinterlands were the most popular games in terms of user activity, with a total of 374 UAWs. At press time, Alien Worlds had over 238k wallets, an increase of 0.35% in the previous 24 hours. Farmers World and Splinterlands also saw significant increases in user activity.

Other players arrived on the scene as well. Ultimate Champions, a fantasy football game, saw a 255% increase in UAWs over the previous week. SecondLive on the BNB Chain saw a nearly 50% increase in monthly user base. DappRadar also mentioned new games like Terracore and Dungeon Worlds that could gain traction in the coming days.

According to a previous DappRadar report, Web3 gaming projects received $739 million in investment in Q1 2023, a 12.95% increase over previous quarter investments. The average daily UAW in Q1 2023 was 791,474, a decrease of 8.58% from Q4 2022. The report also highlighted a bullish sign of growth for the industry, with dominance increasing from 42.87% in Q4 2022 to 45.60% in Q1 2023.

Another DappRadar study noted Asia’s growing dominance in the global gaming landscape. The Asian Market will have 1.7 billion players in 2022, accounting for 55% of the global user base, according to the findings.

East Asian countries such as China, Japan, and South Korea dominated the gaming industry, accounting for more than 60% of the world’s top gaming firms.