Blockchain Gaming continues to rise, accounting for 48% of all dApp activity |

A new report released Tuesday shows that the blockchain gaming industry will continue to show signs of strength into 2023.
Positive reading is possible with the new DappRadar report and the Blockchain Gaming Association (BGA).
On-chain gaming activity increased 1.31% to 858.621 dUAW. This account represents 48% of January’s dapp activity. On-chain gaming activity is transactions that occur within games on smart contracts on a Blockchain.
Gaming tokens have been a growing area
The crypto ecosystem has seen promising growth in the area of gaming tokens. The average market cap of the top gaming tokens rose by 122%, with GALA at 218% and $384 millions respectively.

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ApeCoin is the market leader with a market capitalization at $2,112,042,188 as of January 31. This is a 51.99% increase over January 1. SAND is closely followed by a market capitalization at $1,254,095,738. This is an 86.64% increase.
Source: DappRadarApeCoin has experienced a surge of popularity due to the Yuga Labs ecosystem. NFT giants also celebrated the launch of the Sewer Pass in January. The Sewer Pass is the key to Dookey Dash, a skill-based game.
Yuga Lab’s recent collaborations with Timex, which featured Mutant Ape Yacht Club and Bored Ape Yacht Club nonfungible tokens(NFTs), has attracted even more attention.
GALA recently acquired a mobile game studio with more than 20 million users and 15 games. The Gala blockchain network has seen a significant increase in its reach. Gala Music received additional attention when a Grammy nominee was announced for one of its artists.
Cryptoslate claims that FLOKI is the best-performing gaming token of 2018. The coin has risen 239% in the last 30 days, but is still 88% below its ATH.
Gaming tokens have not received the same amount of attention as AI tokens which saw dramatic increases in popularity earlier this year.
Blockchain Gaming: Is it maturing?
$156 million was raised in 10 investments in the blockchain gaming sector. Courtside Ventures made the largest investment, raising $100 million for its third venture capital fund.
Source: DappRadar 64% of January 2023 investments were made towards investment firms, in addition to Courtside Ventures. Metaverse Tech, also known by “metaverse-oriented businesses”, is closely following with 11.5%. DappRadar’s report reveals that blockchain gaming investors are looking for long-term value. This is a positive sign, as many observers have criticised the industry’s poor UX.
The full report can be accessed here.
Disclaimer
BeInCrypto reached out to the company or individual involved in this story to obtain an official statement on the latest developments. However, it has not heard back.