Blockchain games are leading the dapp industry, says latest DappRadar report
Market tracker DappRadar and the Blockchain Game Alliance, or BGA, published the Blockchain Games Report for Q1 2022 on Wednesday. After citing that $720 million was invested into blockchain games and infrastructures in February in a previous report, the latest number for total Q1 investment is $2.5 billion. VCs and other investors raised $4 billion in 2021.
The biggest deals listed in the report include Animoca Brands raising $360 million, brining its valuation to $5 billion and becoming a leading Web3 brand. Sequoia Capital led a $450 million investment in Polygon (MATIC), while Yuga Labs, the studio behind Bored Ape Yacht Club (BAYC) NFTs, received a $450 million investment led by Animoca Brands, with The Sandbox, FTX, and Coinbase to launch its Otherside metaverse with play-to-earn (P2E) games.
According to DappRadar, Blockchain games attracted 1.22 million unique active wallets (UAW) in March, and more than half of the industry’s activity came from game dapps, or gaming applications with play-to-earn incentives. Splinterlands is named the number one play-to-earn dapp. And Polygon is the Layer 2 sidechain with the top played P2E games, such as Crazy Defense Heroes, Pegaxy, Arc8 and Aavegotchi.
Cointelegraph asked Sebastian Borget, co-founder of The Sandbox metaverse and president of the Blockchain Game Alliance, why he thinks Polygon has benefited the most from P2E mechanics and NFTs compared to other ecosystems like Wax, Harmony and BNB Chain. He listed a few main reasons, namely that Polygon remained EVM compatible and the Polygon Foundation supported them heavily in marketing and grants. Another reason is that guilds easily migrated their users to Polygon, while keeping MetaMask as the main wallet.
Borget also
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