Axie Infinity is downtrending, while Blockchain Gaming skyrockets 2,000% in a year – Report, According to dapp (decentralized app) industry data source DappRadar, blockchain-powered games drew 1.22 million daily unique active wallets (UAWs) in March, up 2,000 percent from a year before.
According to their data today, a total of 1.17 million UAWs connected daily to blockchain games on average during Q1, down 2% from the previous quarter of 2021.
Polygon (MATIC), an Ethereum (ETH) sidechain, continues to gain traction as a contender to the main game ecosystems of Wax (WAXP), Harmony (ONE), and BNB Chain, according to the experts. According to DappRadar, game dapps on Polygon drew an average of 114,000 daily UAWs in Q1 and 173,000 in March.
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Meanwhile, Sky Mavis, the company behind the famous blockchain-based online video game Axie Infinity (AXS), is going through a difficult time after suffering one of the most significant hacks in the industry’s history.
“While the hack forced Ronin’s native dapps to halt operations, the plunge in Axie’s blockchain activity was not wholly a result of the latest attack; in fact, it was already in decline. The game’s on-chain activity peaked in January when the game registered over 55,000 daily UAWs on average and has come down to almost 22,000 daily UAWs in March,” according to the analysis.
As a consequence of Sky Mavis’ revisions to the SLP rewards ratio, the number of UAW’s in the game began to decline in mid-February. According to DappRadar, the company’s goal was to make Axie’s in-game money long-term viable.
“Still, Axie Infinity is among the top 10 most played games based on a daily usage, and the game is still attracting over 1.5 million daily active users measuring off-chain data,” according to the report.
In any event, investors continue to pour billions of dollars into the blockchain gaming industry, anticipating large returns in the near future.
“Investments in blockchain gaming continue to stream in, with USD 2.5 billion raised in Q1; at this rate, 2022 investments will be 150 percent greater than last year,” according to DappRadar.