It is a well-known fact that blockchain gaming is quickly overtaking other industry segments in popularity. As a result, many people entertain the thought of playing video games where they can monetize in-game assets. It is a very appealing concept, and Q3 2021 shows things are only just getting started.
Blockchain Gaming Is Here To Stay
It is interesting to see how so many people within the cryptocurrency scene aim to explore blockchain gaming. Naturally, the play-to-earn concept attracts much attention. Unlike traditional video games, blockchain games allow users to buy, sell, and trade their in-game assets and turn them into real money. That is an excellent option for grinding games for rewards, although not all games are free to play either.
There is a big difference between free-to-play play-to-earn games and the more “freemium” P2E offerings. Although both serve the same business model, not making an upfront investment can bring in a much broader audience. Unfortunately, it is hard to balance free-to-play with play-to-earn mechanics, which might explain why fewer games offer this option today. Even so, the united blockchain ecosystem noted 1.54 million daily UAW on average, with 49% interacting with blockchain games.
Game NFT Collectibles Surge
As more people begin exploring blockchain games, they gain exposure to in-game NFT assets. Those assets can be traded or sold freely on the marketplace or via exchanges, generating $2.32 billion in sales. A significant number, as it represents over 22% of all NFT trading volume for Q3 2021. Thus, gaming is the next frontier for non-fungible tokens, although it remains unclear if that trend continues in the coming quarters.
Virtual World Games Are Hot
While most people will look at Axie Infinity and other play-to-earn titles, other segments are worth keeping an eye on. More specifically, the virtual world games – metaverses and otherwise – generated 56.4 million in Q3 trading volume. A more than respectable amount, as it represents a 21% increase over Q2 2021. Virtual world games create a different experience for players while still leveraging NFT technology to empower users through item ownership. If this growth is sustainable, reaching $100 million in quarterly trading volume will happen pretty soon.
Alien Worlds On WAX Overtakes Axie Infinity
Perhaps the most intriguing development today is how blockchain gaming sees users explore multiple games simultaneously. That is how it seems, at least, as Alien Worlds – on the WAX blockchain – now has more monthly users than Axie Infinity. A large gap – 853k users vs. 617.65k users – confirms Alien Worlds is gaining more momentum than before. Its monthly growth by 17.56% is healthy, yet Axie Infinity saw 26.81% more users. Very intriguing rankings that will undoubtedly change in the months to come.
Polygon And Blockchain Gaming
Similar to other DApps, games on the blockchain require speed, cheap costs, and high throughput. Ethereum isn’t capable of providing all of these aspects, but a Layer 2 solution like Polygon can. Although Polygon’s presence in blockchain gaming remains relatively small, its UAW of game DApps is rising. The Arc8 mobile game is the main reason for this ongoing growth. Mobile gaming is a massive market, and tackling it head-on through a play-to-earn model can bring millions of people to the Polygon network.
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