Gaming Soars During Bear Market, Dominates On-Chain Activity

• Gaming unique active wallets grew 60% in 2022
• On-chain transactions increased 37% in the same year
• Wax, Hive, and BNB Chain became the most popular gaming blockchains with 353,000, 234,000, and 136,000 daily UAWs, respectively

The gaming industry has seen an explosive growth in the past couple of years, with the number of unique active wallets (UAWs) growing 60% and on-chain transactions increasing 37% in 2022 alone. This growth is particularly impressive, especially given the bear market of the past year, which has caused many other sectors of the crypto sphere to shrink.

The three most popular gaming blockchains in the market were Wax (WAXP), Hive (HIVE), and BNB Chain (BNB), which had 353,000, 234,000, and 136,000 daily UAWs, respectively. This allowed games to overtake Defi UAWs in 2022, as 39% of the industry share was attributed to gaming, compared to the 41% Defi UAWs held in 2021.

On-chain game transactions have also seen a significant increase since 2021, reaching 7.4 billion in 2022. This represents a 37% increase since 2021, and an impressive 3,260% since 2020. On average, a single wallet conducted 25 gaming on-chain transactions in 2022.

This surge in gaming activities has allowed it to dominate the on-chain activity tracked by DappRadar, taking up 49% of the market share. This is especially impressive given the bear market, and suggests that gaming will remain a strong sector of the crypto sphere in the coming years.

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