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Don’t overlook: NFT games surged 762% in Q3 volume

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TL;DR

TL;DR Breakdown:

  • NFT games recorded $2.32 billion in trading volume within Q3, a 762% increase in QoQ.
  • WAX blockchain has the most gaming activities, followed by Binance Smart Chain.

NFT (non-fungible token) games are one big part of the market that people are failing to notice. Most of the attention in the NFT market is channeled towards the collection-type crypto art such as the Ethereum-based CryptoPunks, Bored Ape Yacht Club (BAYC), etc., while NFT games are slowly pacing up in trading volume. 

NFT games are blowing up

In Q3, NFT games netted about $2.32 billion in trading volume, which represents 21.72% of the total $10.67 billion trading volumes recorded for the NFT market during the quarter. Compared to Q2, the trading volume for in-game NFTs spiked significantly, precisely 762%, keeping up with the overall growth in the market.

The majority of NFT games volume was contributed by Axie Infinity, while Splinterlands is reported to be the most played game within the quarter. According to DappRader, the trading card game gained more than 245,000 daily unique active wallets (UAW) which accounts for about a 3,267% increase from the Q2 level.

More in-game NFTs are imminent

Play-to-earn (P2E), or blockchain-based games in general, are rapidly gaining traction and could become a huge market under the NFT and cryptocurrency sector. For the context, the unique active wallets that interacted with blockchain games rose to 754,000, which is nearly 50% of the activities in the blockchain industry, per DappRader. The World Asset Exchange (WAX) blockchain has the most game-related usage, with more than 350,000 daily wallets on average in Q3.

The record can possibly grow from here, given more popular NFT projects are starting to include the development of games into their roadmaps. These include projects like Bored Ape Yacht Club, Galactic Apes, and many others.

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Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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