Half of Unique Active Crypto Wallets Playing Blockchain Games in Q3

The number of crypto wallets participating in the blockchain game has exploded in recent months, new research shows.

According to DappRadar’s Q3 “Blockchain Gaming Report,” the total number of active wallets connected to gaming dapps reached 754,000 during the period. This accounts for almost half of the activity in the entire industry, which registered an average of 1.54 million unique active wallets per day over the three-month period.

The unique active wallet metric refers to unique addresses interacting with a particular smart contract, so it does not necessarily refer to daily active users.

The increase in game activity is largely driven by earn-as-you-play and in-game non-fungible tokens. In the third quarter, these in-game NFT collectibles generated $2.32 billion in sales, accounting for 22% of total NFT transactions during the same period, according to the study:

“In the frenzy of Ethereum series like CryptoPunks and Bored Ape Yacht Club (BAYC), the role of NFT in-game items may have been overlooked.”

From July to September, the transaction volume in the NFT space was about 10.67 billion US dollars, an increase of more than 700% from the previous quarter.

The Axie Infinity metaverse is one of the main drivers of blockchain gaming. Players collect and breed "Axies," which are virtual creatures that can be used in PvP (Player Versus Player) and PvE (Player Versus Environment) in the game.

Axie Infinity amassed $2.08 billion in transaction volume in the third quarter and now has a total transaction volume of $2.55 billion. DappRadar reports that the game has sold more than $6.7 million to date, with a current 24-hour volume of $15.2 million.

NFT tracker CryptoSlam ranks Axie Infinity as the top-selling franchise of the past 30 days, with $504 million in sales.

In late September, Axie Infinity launched a staking feature for its native AXS token, which adds another layer of passive income on top of Axie’s earn-as-you-go potential. The move sparked trading in AXS and pushed its price to an all-time high of $155 on October 4. The token is up 743% over the past three months.

Play-to-earn gaming associations like Yield Guild Games, which raised $12.5 million in July through a 30-second IDO (Initial DEX Offering), have also seen massive growth in recent months.

The association has recently been aggressively adding earn-play games to its growing ecosystem, including Thetan Arena, CyBall, Influence, Merit Circle, and Star Atlas, so far this month alone.

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