The Blockchain Gaming Alliance (BGA) reported that the market capitalization of the metauniverses in DeFi has reached an all-time high of $ 4.6 billion.
The BGA posted a report stating that the blockchain gaming sector continues to grow and dominates the NFT market. Its share in the III quarter of 2021 in the global NFT market was about 22%. According to the report, from July to September alone, NFT gaming revenues were $ 2.32 billion.
The authors of the report studied the metaverse market. According to their data, the total value of virtual lands reached $ 42.6 million, while the total market capitalization of decentralized applications (DeFi) of the virtual world reached a record high of $ 4.6 billion at the end of November.
The number of unique active wallets that interact with smart contracts of games increased by 6,566%. The authors of the report draw attention to significant investments in companies engaged in the development of games on the blockchain in 2021.
As an example, BGA cites Hong Kong-based gaming software company Animoca Brands, which raised $ 88 million in May, $ 138 million in July and $ 65 million in October, doubling its market cap to $ 2.2 billion. The authors of the report note that Cryptokitties developer Dapper Labs shocked the world with the sale of its NBA Top Shot project for $ 230 million. Axie Infinity became the record holder for NFT sales and grossed nearly $ 4 billion.
DappRadar co-founder Dragos Dunica believes this growth will continue as projects merge into the metaverse. According to Dunitsa, the growth of blockchain gaming users “will lead to something bigger and potentially all-encompassing – the metaverse.”
In October, the Blockchain Gaming Alliance (BGA) posted a report that said 804,000 unique users connected cryptocurrency wallets to blockchain-based games in July. Thus, the number of cryptocurrency wallets connected to games has exceeded 50% of their total number. Grayscale estimates that the metaverse will reach $ 1 trillion in annual revenues over the next few years, and the sector will compete strongly with Web 2.0. FTX CEO Sam Bankman-Fried expects NFTs to expand even further in the content and video game markets in 2022.
