Blockchain-based games see an uptick in users despite bear market conditions
Bear markets are always tough, but one of the positives is they clear the clutter and this allows legitimate projects to stand out.
While most investors are focused on the latest centralized finance (CeFi) and decentralized finances (DeFi) scandal, the blockchain gaming sector has quietly weathered the storm better than other niches of the market.
As shown on the chart above, all sectors of the market have experienced a noticeable decline in active users, but the gaming sector has proven to be the most resilient at retaining users as the bear market intensified.
Further proof of the continued engagement by gamers can be found by looking at the number of transactions occurring in the top sectors of the market.
With a current count of 173.17 million, the number of gaming-related transactions is significantly higher than any other sector of the market, with the second closest sector being decentralized finance with 8.86 million.
As for which protocols contribute the most to the transaction count, WAX, Hive, BNB Smart Chain (BSC), Solana (SOL) and Ronin are the most active, led by WAX with a current transaction count of 158.23 million.
While the total value transacted remains dominated by exchanges, a growing number of users currently active in the crypto ecosystem can be found in the gaming sector.
Data shows that users are specifically drawn to WAX and Binance Smart Chain, which saw 2.94 million and 2.49 million users.
Alien Worlds on WAX and BNB Chain currently holds the top spot with 196,700 users, followed by Splinterlands with 147,820 active users. It’s also worth noting that the top three games in terms of active users operate on WAX.
While it has fallen far down the list, Axie Infinity (AXS) has consistently been one
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