Non Fungible Tokens and NFT Gaming Keep Rising Decpite Crypto Decline

 

Non Fungible Tokens and NFT Gaming Keep Rising Decpite Crypto Decline

The world of NFTs and fully blockchain-based video games seems to have its own macro events that affect growth. With the help of business valuation firm DappRadar, a series of news reports shows that the number of NFT transactions is gradually increasing despite adverse changes in fees within virtual assets. Also, the blockchain craze centered on video games is on the rise. 

NFTs and Blockchain Games Are Growing in Popularity

Most cryptocurrencies have lost some fees over the past few months. Bitcoin, for example,  retreated last November, using nearly 40% (at this writing) from $69,000. 

However, according to the latest data from DappRadar, a negative scenario for the virtual asset market no longer harms NFTs and blockchains that are primarily based on video games. The rating firm noted that they maintained their hobby or even increased their awareness among investors.

Total purchases and sales of NFTs in the third quarter of 2021 were reported to have risen to $11.9 billion in the fourth quarter, compared to $10.7  billion. The scenario for the start of the new 12 months also looks quite promising, according to the company. 

Read More: Stalker. 2 gets an NFT, including what can be a playable metahuman.

According to DappRadar, non-fungible tokens played a “simple role” in the metaverse and play to earn space and also contributed to their expansion. 

Blockchain, which is primarily based on video games, remains constant as gamer hobbies are gradually increasing. 

“Undoubtedly, blockchain video games are attracting additional customers each month and significantly expanding their player base. As play to earn and GameFi alternatives are widely expected through 2022, we can assume that the sports rating will retain in-corporate use through 2022,” said DappRadar.


The United States Was The Most Active NFT Region

At some point in 2021, the major global economic system was driving NFT visitors to the Far. This is not surprising, as several celebrities, musicians, and athletes have joined the world of non-fungible tokens. 

award-winning coach Quentin Tarantino, rap icon Eminem, Ozzy "The Prince of Darkness" Ozzy Osbourne, and famous NBA player Stephan Curry are just a few of them. The Republic of the Philippines came in second place, with visitors nearly tripled. In the top five, Brazil, Mexico and Indonesia were the opposite. 

However, over the past few months, China has outperformed its financial rivals and is now the number one visitor in visitor reviews. The most populous kingdom increased by 166%  in December compared to November 2021. 

Read More: Game Developers GSC Game World and Ubisoft are facing a counterreaction against NFT integration.

Jamie Lamten

Jamie Lamten is a writer and investor in crypto, provides his opinions and the latest news about non-fungible tokens.

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