New data has revealed that the Blockchain gaming sector remains resilient amid the FTX meltdown saga

Although the cryptocurrency market is just beginning to recover from the effects of the FTX crash and subsequent crisis, the underlying technology has remained strong, especially when it comes to blockchain gaming.

In fact, user activity in Web3 games during October and November accounted for nearly half of all blockchain activity (42.67%) across 50 networks, according to a new report. DappRadar The report was shared with Coinphony on November 30.

In November alone, an average of 800,875 Unique Active Wallets (UAWs) interacted with gaming smart contracts each day, which is a slight decrease of 12% since September, when the industry had 911,720 active wallets.

Unique activity of active wallets. Source: DappRadar

However, the current state is still a decline compared to late 2021 and early 2022. The Solana (SOL) blockchain has suffered the biggest hit of all related networks, seeing a significant drop in unique wallet activity in close proximity. 90% during the month, with an average of 2,326 active wallets per day.

Funding continues on a smaller scale

Despite the crisis, money has continued to flow into blockchain games and metaverse projects, which raised $534 million in October and November, with most of the investment going toward building and maintaining infrastructure.

So far, the current forecast for investment in blockchain games for this year is about $8.16 billion, up 104% from the $4 billion total in 2021. The fourth quarter of 2022 had the lowest funding amount – $500 million.

As previously reported by Coinphony, blockchain games and metaverse projects brought in $1.3 billion in Q3 2022, which is down 48% compared to Q2 2022.

Meanwhile, total in-game trading volume of non-fungible tokens (NFTs) reached $55 million in October and November, and popular blockchain card game Gods Unchained topped the list by generating 64.25% of total trading volume, reaching $21, $6, and $13.45. dollars. million over the course of two months.

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Post-Blockchain Gaming Sector Remains Resilient Amid FTX Collapse Saga, New Data Appears For The First Time On Coinphony.

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