Wax Dominates the GameFi space with a 42% Market Share



Age of Farming and Million on Mars are the latest rising stars

The Wax blockchain has been dominating the market in terms of GameFi user numbers. Thanks to its efficient and affordable blockchain infrastructure, Wax is ushering in an array of GameFi projects, making it one of the most vibrant blockchain ecosystems. 

Summary:

  • Gaming is the best-performing sector amid the current crypto bear market. 
  • Wax‘s users account for 42% of the GameFi market, way ahead of its competitors such as HIVE, Solana, Polygon, and BNB Smart Chain.
  • Age of Agriculture and Millions on Mars are two games to watch on Wax, with 30-day transactions increasing 126% and 426%, respectively.

As the crypto downturn continues, the once-lucrative market is witnessing a massive fleeing of speculators. According to DappRadar Industry Report Q2 Edition, 2.11 million Unique Active Wallets (UAW) connected to blockchain dapps during Q2, decreasing 11% from the previous quarter.

However, the gaming sector defies the bear market trend, with UAW decreasing only 5% from the previous quarter. Furthermore, when looking further into the specifics of the current gaming market, we can find that Wax is the most popular among GameFi users. Such a sign of life suggests that the top gaming dapps might be preparing for a comeback.

Wax‘s users account for 42% of the GameFi market

Ethereum remains the chain of choice for most dapps, as the blockchain created the gold standard for smart contracts. Meanwhile, Solana is the rising star favored by many DeFi and NFT projects due to its excellent efficiency, scalability, and affordability that the current Ethereum fails to deliver. However, regarding GameFi end-users preference, Wax comes out on top without a doubt.

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At the time of writing, 42.45% of all GameFi participants come from Wax, far exceeding HIVE (19.59%), Solana (9.07%), Polygon (5.44%), and BNB Smart Chain (6.43%).  

Source: footprint

As the chart below shows, some blockchains have suffered user declines in the last month. On the contrary, Wax has instead maintained its appeal to users and has seen significant user rebounds in phases.

Source: footprint

Rising stars on Wax

The survival or even thriving of GameFi dapps on Wax amid the bear market trend proves that Wax’s ecosystem is ideal for hosting GameFi. Rather than being a playground for speculation, GameFi dapps can engage players as much as traditional video games.

 On top of that, GameFi dapps provide players with a unique gaming experience through a user-driven and sustainable economic model. Just like those on Wax. In addition to all-time stars such as Alien Worlds and Farmers World, several less well-known games have achieved an impressive ascent in activity.

For example, Age of Farming is an NFT card game set in ancient times. The play-to-earn features allow users to earn NFTs and tokens by playing the game. The game has registered over 2.42 million transactions over the last 30 days, an increase of 126%. 

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Another game recently gaining significant traction is Million on Mars, a web-based play-and-own game with excellent visuals. The game allows players to scavenge resources, develop land, and trade in a player-owned economy on real Martian terrain. Million on Mars has seen a whopping 426% growth in transactions over the past 30 days, generating 183,000 transactions. 

Final thoughts

In a nutshell, Wax has established a vibrant blockchain ecosystem that empowers NFT and GameFi projects to flourish. Specifically speaking, the blockchain can handle high volumes of transactions with extremely low costs and won’t accrue any costs for end-users.  Additionally, the native marketplace, AtomicMarket facilitates the exchange of NFT assets smoothly and cost-effectively.

Find more about Wax 

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Disclaimer — This is a sponsored article. DappRadar does not endorse any content or product on this page. DappRadar aims to provide accurate information, but readers should always do their own research before taking action. Articles by DappRadar can not be considered as investment advice.





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