Despite a dip in user activity, Ethereum, the world’s second most popular cryptocurrency, remains the most superior player in terms of revenue. Thanks to its strong Non-Fungible Token (NFT) ecosystem, Ethereum accounts for over 75% of the $35 million trading volume tracked in the Blockchain game sector this year till date, reports DappRader, a decentralised AppData.
What is the Blockchain Game?
Blockchain games, in contrast to conventional gaming portals, are decentralised where assets and most of the core logic are governed by smart contracts. Blockchain games either issue their own token or use an existing token, for instance, Ether in case of Ethereum. As the DappRadar report points, daily activity across all Blockchain games increased to an extent during July, up by 3% compared to June 2020, ending the month at just over 22,000 daily active unique wallets.
Crypto Trends in Blockchain Games
Findings from the report indicate that the overall long term scenario, however, is not too pretty. This is primarily due to Ethereum’s high transaction fees which show no signs of easing since April and has subsequently led to a decline in a number of daily users. Overall gaming activity on Ethereum is low by 82% over the past six months, compared to a rise of 12% on EOS. However, gaming activity on EOS dipped in July as its most popular game Crypto Dynasty witnessed a decline by 29%.
Interestingly, smaller chains have experienced positive trends. WAX is up 33% and TRON up 360% over the half-year period, marking an improvement from their previously low levels.
Now the most popular Blockchain game, Splinterlands is up 36%, making an impressive mark at 6,000 plus daily active wallets on a regular basis. Also making it to the top 5 is EOS-based mobile game Upland, reflecting a 64% high as its open beta testing is being ramped up. At present, it boasts of approximately 2,000 daily active unique wallets.
Ethereum dominates Blockchain Game Sector
The report, which analysed performances across all games and marketplaces running on the Ethereum, EOS, TRON, WAX, Steem, and Hive blockchains, also noted that Ethereum-based third party marketplace OpenSea has accounted for around $6 million of trading value in 2020; the most from a single decentralised app. Currently, EOS remains the most popular Blockchain for gaming with around a 40% share of daily activity, compared to approximately 30% for Hive. However, despite low user activity, Ethereum still manages to hold on to the dominant player position in terms of revenue.
