NFTs and Blockchain-Based Games on the Rise Despite the Recent Crypto Decline (Report)

Non-fungible tokens and blockchain-based games appear to have their own macro events which affect their growth. DappRadar’s analysis company revealed that NFT trades continue to rise despite negative price movements in digital asset markets. The interest in blockchain-based gaming is also increasing.

Popularity of NFTs and Blockchain Games Growing

Most cryptocurrencies have seen a decline in price over the past few months. Bitcoin has fallen by almost 40% since November 2017, when it was at $69,000.

DappRadar recently stated that the negative situation in the digital asset marketplace has not affected NFTs or blockchain-based games. The analysis firm found that these have maintained their interest and increased their popularity with investors.

The firm reported that Q3 2021’s total NFT trading volume was $10.7 billion. In Q4, however, the figures jumped to $11.9 billion. According to the firm, the situation for the beginning of 2019 looks very promising.

DappRadar states that non-fungible tokens have an “undeniable” role in the metaverse, as well as the space for play-to-earn, which has further accelerated their expansion.

As players are gradually becoming more interested in blockchain-based games, their adoption is steady.

Blockchain games are growing exponentially, with more players each month. DappRadar stated that the industry can continue to be driven by the GameFi and play-to-earn options, which are widely anticipated to arrive in 2022.

The USA was the most active NFT region

The NFT traffic was dominated by the world’s largest economy in 2021. It’s not surprising that many celebrities, athletes, musicians, and other Americans joined the non-fungible token universe.

Examples of such people include Quentin Tarantino (awarded-winning director), Eminem (rap icon), “the Prince of Darkness” Ozzy Osbourne and Steph Curry (NBA star).

The Republic of the Philippines came in second, despite having almost three times as much traffic. The top five countries were Brazil, Mexico, Indonesia, and Indonesia.

China has become the world’s largest traffic source and has surpassed its economic rival in the past few months. China was the most populous nation with a 166% increase in December, compared to November 2021.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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