New data from Dapradar suggests that gaming is an important part of the blockchain industry. According to the report, the gaming sector accounted for approximately 50.51% of the industry usage month-on-month (MoM) as of August numbers.
Overall, the number is a good indicator for the sector, but it showed a decrease compared to last month. Last month, the gaming sector accounted for approximately 57.30% of industry utilization (MoM).
Dapradar data comes from Daily Unique Active Wallet (UAW). According to the surveyor, there are approximately 847,230 active gaming-related UAW transactions each day, worth approximately $698 million.
Gaming has long been considered the gateway to the world of web3, blockchain and crypto. Another recent ChainPlay survey found that 75% of 2,428 GameFi investors joined the site based solely on gaming.
GameFi investors aren’t the only ones who believe in supporting mass adoption in the sector. In the year At a panel at Korea Blockchain Week 2022, GameFi and crypto go hand in hand, experts said. Moreover, it was expected that most games will have an in-game crypto economy in the next few years.
Long-legacy gaming companies in the traditional gaming sector are also eyeing Web3. The head of Xbox expressed hope for Metaverse Gaming, but with some caution for pay-to-play (P2E) crypto games.
According to a study by cyber security auditing firm Haken, many projects in the GameFi industry do not prioritize security and are out of date for a major hack. Ronin’s token bridge was one of the biggest crypto hacks since Axie Infinity lost $600 million in March.
A recent analysis of 60 Web3-based games found that 40% of users were automated bots or multiple accounts from the same entity.