LikeFolio tracks a number of macro trends relating to the cryptocurrency space, and Blockchain Gaming continues to show the most impressive near-term growth of the entire group.
Mentions of blockchain-based games, play-to-earn mechanics, and NFT game assets are accelerating on a 30-day moving average: +548% QoQ.
Axie Infinity ($AXS), a Pokémon-style game utilizing Ethereum NFTs, remains the market leader. However, its success has given rise to 100’s (if not 1000’s) of new projects spanning a variety of blockchains.
One smaller blockchain that’s benefitting from surging interest in blockchain gaming is WAX ($WAXP).
In a deep dive report published earlier this year, we detailed how WAX’s eCommerce-focused, layer-1 blockchain makes it an excellent platform for NFTs and blockchain game development...Although the market cap of $WAXP has declined slightly since then ($600M -> $560M), it’s evident that game-focused engagement is on the rise.
The number of people talking about playing games on the WAX blockchain and transacting in game-related NFTs recently hit a new all-time high on a 30-day moving average.
The trend in underlying chatter mirrors that of transaction volume on WAX’s largest NFT marketplace, AtomicHub.
NFT sales on AtomicHub eclipsed $7.8M yesterday, with several in-game assets fetching prices above $40K USD.