Despite a decline in activity, gaming still accounts for 45% of active wallets in the web3 sector.
While Oath of Peak, Trickshot Blitz, and Unity maintained their bullishness in February, Daily Unique Active wallets had a 12.33% decline.
On-chain gaming makes up 45.43% of the decentralized application (dApp) market, despite the fact that gaming-related Daily Unique Active Wallets (dUAW) had a reduction of 12.33% in February, based on a new DappRadar analysis.
According to the DappRadar report, there are 752,735 dUAW reported on-chain as of the end of February. Despite the general decline, the on-chain user numbers of two game — Oak of Peak and Trickshot Blitz — increased. Also demonstrating its optimism for the market, game company Unity has entered the space by providing 13 blockchain-based software development kits (SDK).
Web3 Gaming
According to the research, February “tends to be a quiet month for the business”, thus the 12.33% decline saw last month is consistent with prior years.
Even though gaming still makes up almost half of all industry activity, its hegemony was compromised by the declining dUAW figures.
The industry’s domination of gaming in February was 45%, down from 48% in January. The current dominance rate reverses the January rise and puts dominance rates back to where they were in December 2022.
Whatever the case, gaming still completely dominates DeFi. DeFi saw an increase in dominance rates compared to gaming, rising to 24% from January’s 21%. Even still, this only accounts for 45% of gaming.
The opposite of the current
With the exception of WAX, all significant gaming blockchains showed a general decline in the number of dUAWs (WAXP). Wax boosted the number of its dUAWs to 342,764 in February, an increase of 3.26%.
Every other large chain saw a drop in sales in February, with HIVE (HIVE) reporting the biggest drop at 36%. BNB Chain (BNB), EOS (EOS), and Polygon (MATIC) all had decreases of 35%, 12%, and 3.44%, respectively.
Oath of Peak, which increased its monthly UAW (mUAW) by 136% to 88,090, successfully defied the trend and outperformed all other games in February. Another game that saw growth in February was Trickshot Blitz, which saw a 49% increase in mUAW to 84,160 from the previous month. Finally, Farmers World saw a 4% gain in its mUAW in February, restraining the overall decline.
Optimistic about SDKs
The report also identified SDKs as a recent development in blockchain gaming. The research claims that there would be an 87% increase in Ethereum (ETH) SDKs in 2022, citing Alchemy’s Q4 data. In addition, installs increased by 16% in the fourth quarter compared to the third of the same year.
Unity, a platform for game developers, entered the market by providing 13 blockchain gaming SDKs after seeing the new trend. These SDKs, which include well-known protocols like Immutable X (IMX), Solana (SOL), and MetaMask, were made available by Unity under the “decentralization” category in its online store.
