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- According to DappRadar, the current crypto crash has had no effect on blockchain-based games or NFTs.
- Interest in blockchain-based gaming is growing. Also, the number of NFT trades is gradually increasing despite the negative price volatility in the digital asset business.
The world of non-fungible tokens and blockchain-based games appear to have their own macro events that impact their evolution. According to a series of data published by the analytical firm DappRadar, the number of NFT trades is gradually increasing despite the negative price volatility in the digital asset business. In addition, interest in blockchain-based gaming is growing.
NFTs and Blockchain Games: never-ending popularity
Most cryptocurrencies have lost ground in price during the previous few months. Bitcoin, for example, has fallen about 40% (at the time of writing) from its all-time high of $69,000 set in November of last year.
However, according to a recent DappRadar report, the current state of the digital asset market has not hurt NFTs and blockchain-based games. According to the analytical business, they have maintained and even expanded their appeal among investors.
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It said that the overall NFT trading volume in Q3 2021 was $10.7 billion, with the figure increasing to $11.9 billion in Q4. According to the business, the scenario at the start of the new year appears to be pretty positive as well.
Non-fungible tokens, according to DappRadar, play an “undeniable role” in the metaverse and the play-to-earn area, which has fueled their growth.
The U.S has the most active NFT users
In 2021, the world’s top economy controlled NFT traffic. This is unsurprising given the fact that many American celebrities, athletes, and artists have entered the non-fungible token world.
People like award-winning director Quentin Tarantino, rap artist Eminem, “Prince of Darkness” Ozzy Osbourne, and NBA great Steph Curry are great examples.
The Republic of the Philippines came in second with over three times the traffic. Brazil, Mexico, and Indonesia rounded out the top five.
However, China has just passed its economic opponent and currently leads the way in terms of traffic. The world’s most populated country increased by 166 percent in December compared to November 2021.
The U.S has overtaken China
The Chinese public’s heightened interest in NFTs and blockchain games during this market decline may be ascribed in part to recent Chinese comments that the government will begin building its own non-crypto NFT business.
Despite the fact that the US has overtaken China in terms of overall traffic, the country saw 175,000 new users join the NFT ecosystem, representing a 38% growth. This is due, in part, to an increase in interest among young viewers, as millennials and Generation Z begin to account for a higher percentage of traffic.