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Blockchain gaming is steadily gaining popularity as it makes up a significant portion of all on-chain transactions, accounting for 38% of all crypto transactions in April, despite experiencing a 10% drop in daily active wallets compared to the previous month, says data analytics firm DappRadar.
The “Meme Token Craze” Blamed for the User Dropoff
DappRadar attributed the decline in user numbers to the ongoing “meme token craze,” citing the skyrocketing market cap of PEPE, which recently reached $1.7 billion before plummeting by 63%. This trend has led to a 74% decrease in virtual world trading in the past month, but games like The Sandbox and Topia continued to experience growth.
Sui Emerges as a Major Player
The report highlighted the launch of the gaming-oriented network, Sui, which has already made significant gains since its mainnet launch last week. According to the report, the Sui token has appreciated 3,800% since its initial coin offering (ICO), and 40 games are already being built on its network.
WAX and Polygon Take the Top Spots
WAX, the home of Splinterlands and Alien Worlds, is the leading gaming chain, but Ethereum sidechain network Polygon is steadily gaining traction and may soon be a contender for the top spot, according to the report.
Bot Activity Remains an Ongoing Problem
DappRadar also highlighted that bot activity continues to be a concern for some WAX games, and mentioned that both Splinterlands and Alien Worlds have taken steps to eliminate bot users from their titles this year.
Arbitrum Sees Spike in Users
DappRadar reported that Ethereum scaling solution Arbitrum experienced a spike in users in April, growing by over 118% compared to the previous month, while Immutable X grew by approximately 9%. Mighty Bear Games CEO and co-founder Simon Davis, whose studio is building on Polygon, attributed Arbitrum’s rise to its late-March token airdrop.
Multi-Chain Future for Web3 Gaming
As multiple Blockchain networks compete to attract gaming projects to their chains, it is becoming increasingly evident that a multi-chain future is in store for Web3 gaming.