As the failure of FTX continues to press the crypto markets deeper into red area, DappRadar states that a person sector of the market stays mostly untouched by the chaos.
In a brand-new report, the information acquisition and analysis company states that the blockchain video gaming sector continues to be a driving force for the decentralized application (DApp) market.
“In October and November, video gaming activity represented practically half of all blockchain activity tracked by DappRadar throughout 50 networks, with 800,875 day-to-day Special Active Wallets (UAW) communicating with video games’ wise agreements in November.”
As FTX, previously the second-largest exchange platform in the market, was declaring insolvency in November, DappRadar states blockchain video games raised over $320 million.
Throughout that duration, the typical day-to-day distinct active wallets in the Web3 video gaming sector decreased by simply 12%, reaching 800,875.
“In November, regardless of the FTX collapse, blockchain video gaming activity was resistant … It is still the most considerable part of the market, comprising 42.67% of all blockchain activity. The reduction in supremacy is driven by the boost of the DeFi [decentralized finance] sector in the middle of the FTX crisis.”
The report states that 2022 saw a stream of collaborations and financial investments in blockchain video gaming, keeping in mind that the month of September marked a year-low.
“We are observing a rising pattern for the financial investments in blockchain video gaming. September was the most affordable month for blockchain video gaming financial investments and the worth streaming in start-ups and appealing jobs kept increasing from there.”
Regarding why the sector did not flinch versus the background of the FTX implosion, DappRadar states that those getting in the crypto area through video gaming or NFT channels do not especially have an interest in the fallen central exchange.
“Unless their tokens were kept in FTX, which is not likely considered that many blockchain video games have internal markets and staking choices for their gamers, which suggests that tokens need to be kept in a blockchain wallet. Without even understanding it, players might have discovered the harshest Web3 lesson: not your secrets, not your crypto.”
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