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.

STEPN, the app that has revolutionized fitness through the “move-to-earn” model and its NFTs, is about to take a significant step forward in the realm of digital identity with the imminent launch of branded Web3 domains .stepn. 

This strategic move, carried out in collaboration with Unstoppable Domains, aims to simplify cryptocurrency transactions for millions of STEPN users and to provide a unified digital identity for fitness results and Web3 activities.

The collaboration of STEPN NFT with Unstoppable Domains

The announcement of the collaboration between STEPN and Unstoppable Domains was made in Brussels during the event EthCC on July 11, 2024. This partnership is part of a broader initiative aimed at integrating user-owned domains into the traditional Internet infrastructure.

Unstoppable Domains, the largest provider of Web3 domains in the world, and STEPN are ready to submit an application during the next round of ICANN applications in 2026.

The new top-level domain (TLD) .stepn offered by Unstoppable Domains will allow users to easily send and receive STEPN’s native token, GMT, along with all major criptovalute and NFTs, integrating STEPN into Unstoppable’s ecosystem which includes 865 partner applications.

These domains can be used to log in to various blockchains, including Solana and other EVM and non-EVM chains.

STEPN is an application that encourages users to exercise by rewarding them with digital assets. The platform combines elements of fitness tracking, gamification, and blockchain to create a unique ecosystem that promotes a healthy lifestyle.

Through GPS, STEPN tracks users’ movements in real-time and rewards them with GMT and GST, STEPN’s native tokens, for the distance covered and the quality of the Sneaker NFT in their possession.

Since the launch, the STEPN community has covered more than 300 million kilometers, burning 20 billion calories and offsetting 21 million kilograms of carbon along the way. The app continues to grow, with two to three million active users monthly.

A future of opportunities

Recently, STEPN has expanded its reach with the release of STEPN GO, a social-lifestyle app that includes a decentralized marketplace where users can buy and sell items such as Sneaker, Shoe Boxes, and more. 

Available on the Apple App Store and the Google Play Store for Android, STEPN GO features the user-friendly Haus system for easy sharing of Sneaker and an Interactive Map to showcase personalized avatars and outfits, enhancing both social connectivity and user engagement.

The launch of .stepn domains represents an important step towards the mass adoption of Web3 technologies. STEPN users will not only benefit from simpler and more secure crypto transactions, but they will also be able to create unique profiles, earn rewards, and participate in an integrated digital ecosystem. 

The collaboration with Unstoppable Domains strengthens STEPN’s position as a leader in the “move-to-earn” application sector and in the Web3 world, offering its users new opportunities to explore and experience the blockchain in an intuitive and accessible way.

Conclusion

With the introduction of .stepn domains, STEPN and Unstoppable Domains are shaping the future of digital identity and crypto transactions. This initiative not only simplifies access to cryptocurrencies and NFTs, but also promotes a healthy and sustainable lifestyle by connecting the world of fitness with the possibilities offered by blockchain technology. 

While STEPN continues to innovate and expand its ecosystem, users can expect further developments and improvements that will make the “move-to-earn” experience even more rewarding and engaging.