Key Points
- Blockchain gaming reached a record 4.2 million daily active users in August 2024, despite being overtaken by AI-driven dapps as the leading product category.
- Gaming investments surged to $50 million in August, a 117% increase from July, with all funds directed towards gaming studios, signaling a focus on infrastructure development.
The blockchain gaming sector has achieved a new milestone in user engagement while experiencing a period of quiet growth, according to the latest DappRadar Games report for August 2024.The industry reached an all-time high of 4.2 million daily unique active wallets (dUAW), marking a 5% increase from the previous month.
AI Dapps Take the Lead, Gaming Holds Strong
For the second consecutive month, AI-based decentralized applications (dapps) claimed the top spot in the blockchain ecosystem, commanding a 29% market share. Despite being nudged to second place, blockchain gaming maintained a strong position with a 24% market share, demonstrating resilience in the face of emerging technologies.
The overall dapp industry hit a record 17 million dUAW interacting with blockchain applications, highlighting the growing adoption of decentralized technologies across various sectors.
Gaming Platforms and Investments Show Promise
Ronin continues to dominate the gaming blockchain landscape, driven by popular dapps like Pixels and the newly welcomed Forgotten Runiverse. Other networks, including opBNB and SKALE, are gaining traction with standout games and increasing user engagement.
August saw a significant uptick in blockchain gaming investments, reaching $50 million – a 117% increase from July. Notably, all investments were directed towards gaming studios, indicating a strong focus on building foundational infrastructure for long-term growth.
Key investment highlights include:
- Gameplay Galaxy secured an additional $11 million in seed funding, bringing its total to $24 million.
- Double Jump Tokyo announced a $10 million Series D round, led by SBI Investment with participation from Sony.
New Games and Future Outlook
While August was relatively quiet in terms of major game releases, several developments shaped the Web3 gaming landscape. Lumiterra, a blockchain-based MMORPG, launched its first closed beta on the Ronin network, featuring a $1 million prize pool and achieving an impressive 80% player retention rate by the seventh day.
Other notable updates included Faraway Games’ expansion of ex-Yuga Labs intellectual property integration into Web2 games, Dapper Labs’ updates to CryptoKitties, and Mythical Games’ NFL Rivals becoming the official mobile game of the Kansas City Chiefs.
As the industry continues to build and innovate behind the scenes, September holds the potential for more significant developments. The groundwork laid during these quieter months may well set the stage for a more dynamic and headline-worthy future in blockchain gaming.
