The number of unique active wallets (UAW) recorded an 8.58% decrease in the first quarter of 2023, as the recent DappRadar report revealed.
The average daily UAW was calculated as 791,474 for the first three months of the year, as the DappRadar report stated. Despite the decrease, investments made in Web3 gaming recorded a 12.95% increase and reached $739 million.
Web3 Gaming dominance
Even though the number of UAW recorded a slight decrease in the first quarter of 2023, it still reflects a bullish sentiment when the UAW counts are compared across the fields of gaming, DeFi, NFT, and social.
UAW by industry (Source: DappRadar)
Social and DeFi industries’ UAW count also decreased along with the gaming industry during the first quarter of 2023, while only the NFT sphere’s UAW count remained the same. These changes increased the dominance of Web3 gaming to 45.6% in the first quarter of 2023 from the 42.87% recorded in the previous quarter.
Top gaming chains
Almost all gaming chains reflected the decrease in the number of UAWs in Web3 gaming except for Polygon (MATIC) and Klaytn (KLAY).
MATIC emerged as the leading gaming blockchain by recording a 29% growth in UAW numbers and increased to 122,000 in the first quarter of the year from the 94,000 recorded in the previous quarter. On the other hand, KLAY managed to establish a firm ground as a gaming blockchain by increasing its UAW count to 15,000 during the first three months of the year.
Top gaming blockchains (Source: DappRadar)
BNB Chain (BNB) emerged as the one that recorded the most significant loss in UAW numbers during the first quarter, as it shrank to 87,000 from the 138,000 recorded in the fourth quarter of 2022, which marks a 36% decrease.
Hive (HIVE) and EOS (EOS) followed BNB with the second and third most significant losses, with 20% and 18%, respectively. Despite recording a 1.76% decrease in the number of UAWs, WAX (WAXP) also remained in its position as the most prominent gaming chain in the first quarter of the year.
Investments
The $739 million invested in the Web3 gaming space marks a 13% increase from the $654 million collected in the fourth quarter of 2022.
Web3 gaming investments (Source: DappRadar)
However, the current number remains relatively small, next to the $1.22 billion invested in the Web3 gaming space in the third quarter of 2022.
The post Blockchain gaming unique active wallets decreased 8% in Q1 2023 appeared first on CryptoSlate.
