The universe of non-fungible tokens and blockchain-based games seem to have their own macro events that affect their growth. A series of reports from analytics firm DappRadar has revealed that the number of NFT transactions continues to steadily increase despite adverse price movements in the digital asset industry. Additionally, interest in blockchain-based games is also on the rise.
NFTs and Blockchain Games Becoming More Popular
Most cryptocurrencies have lost some price ground during the last couple of months. Bitcoin, for example, has retreated by nearly 40% (at the time of writing this article) from its $69,000 record, registered in November last year.
A recent DappRadar date, however, pointed out that the unfavorable situation in the digital asset market has not hurt NFTs and blockchain-based games. These have maintained their level of interest and even increased their popularity with investors, the analytics firm noted.
It informed that the total NFT trading volume for Q3 2021 amounted to $10.7 billion, while in Q4, the numbers picked up to $11.9 billion. The situation at the start of the new year looks quite promising as well, the firm said.
According to DappRadar, non-fungible tokens play an “undeniable role” in the metaverse and gaming space to win, which has further propelled their expansion.
Blockchain-based games’ adoption remains steady as the interest from players is gradually increasing.
“Without a doubt, blockchain games have been attracting more users every month, increasing the player base tremendously. With widely anticipated play-to-win and GameFi options set to arrive in 2022, we can expect the category gaming continues to drive industry usage for 2022,” DappRadar pointed out.
The USA Was The Most Active NFT Region
The world’s leading economy dominated the NFT traffic during 2021 by far. This comes as no surprise since numerous American celebrities, athletes, and musicians joined the non-fungible token universe.
Notable examples of these people include award-winning director Quentin Tarantino, rap icon Eminem, “Prince of Darkness” Ozzy Osbourne, and NBA star Steph Curry.
With nearly three times less traffic, the Republic of the Philippines ranked in second place. Brazil, Mexico, and Indonesia were the other countries in the top 5.
However, in recent months, China has overtaken its economic rival and is now establishing itself as the leader in terms of traffic. The most populous country saw a 166% increase in December compared to November 2021.
