DappRadar has released its Blockchain Gaming Report defining Q2 2024 as the best quarter since 2022. In fact, the Web3 gaming and dapp sector has raised 1.1 billion dollars in investments. 

Blockchain Gaming Web3: DappRadar states that Q2 2024 is the best quarter since 2022

The famous platform that analyzes and tracks data on decentralized apps, DappRadar, has released its Blockchain Gaming Report. 

1/ We’ve long believed blockchain gaming will drive Web3 adoption, and recent trends confirm it! In Q2, blockchain gaming saw a 33% increase in dUAW compared to Q1.

Overview in the thread
Read the full DappRadar x @BGameAlliance Q2 Gaming Report. https://t.co/AHDEOqeu9x

— DappRadar Insights (@InsightsByDR) July 11, 2024

In the world of finance, the terms “bull” and “bear” are often used to describe market trends. A “bull” market is characterized by rising prices, while a “bear” market is marked by falling prices. Understanding these concepts is crucial for investors.

“For a long time, we have believed that blockchain gaming will drive the adoption of Web3 and recent trends confirm it! In the second quarter, blockchain gaming recorded a 33% increase in dUAW compared to the first quarter. Overview in the thread, Read the entire DappRadar x @BGameAlliance Q2 gaming report”

From what has emerged, it seems that Q2 2024 was the best quarter since 2022 for investments in the Blockchain Web3 gaming sector. 

The companies in the sector, in fact, have raised investments totaling 1.1 billion dollars, recording an increase of +314% compared to the previous quarter. 

Among the highlights of the report, DappRadar states that blockchain gaming is leading in the Web3 sector, representing 28% of all dapp activity and attracting 2.8 million active wallets every day.

Blockchain Gaming Web3: the first dapp is Ronin with 1.9 million new daily wallets

Leading the Blockchain Gaming Web3 scene is Ronin, the Ethereum sidechain for the Axie Infinity ecosystem.

Ronin has attracted over 1.9 million new daily wallets, with a 100% increase compared to the previous quarter.

Other Blockchain Gaming development platforms that have recorded significant activity this quarter are Immutable zkEVM and opBNB. Specifically, Immutable zkEVM has recorded an increase of 715.136%, while opBNB has seen an 80.459% rise.

Not only that, in terms of unique active wallets in the gaming landscape, there is also Pixels which has attracted 48 million UAW (Unique Active Wallet) throughout the entire quarter.

On the contrary of all these increases, the collections based on metaverse NFT have instead recorded a decrease in Q2 2024. The trading volume dropped by -29%, while sales by -21%.

The 2023 report and the decline of metaverse projects 

On the contrary to the present report on blockchain gaming that shows the growth of sector interest, other previous reports from DappRadar have instead shown changes in the scenario. 

In fact, just last year, DappRadar had published a report stating that projects in the metaverse were experiencing a decline in interest among investors.

In fact, it seems that in Q2 2023, the trading volume of metaverse projects had decreased by 80%, reaching 56 million dollars. 

This decline in interest was interpreted by DappRadar as a change of scenario, leading the public to turn their attention to other topics such as meme tokens and Artificial Intelligence (AI). In any case, the metaverse, at that time, accounted for 43.68% of investments in the Web3 sector.