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DappRadar Report: These blockchain games are more popular than Axie Infinity

While Axie Infinity may be stealing the show, a report by DappRadar on the state of blockchain gaming puts several gaming titles ahead of it in terms of unique active wallets (UAW) in Q3 2021.

As expected, the report also highlights that play-to-earn (P2E) gaming, and NFTs to a lesser extent, are driving growth in the blockchain gaming sector.

With that in mind, has gaming become the new DeFi?

Blockchain gaming is taking off

Analysis by DappRadar shows 1.54 million UAWs were registered in Q3 this year. They point out that this is a 25% increase quarter-over-quarter and a 509% increase year-over-year.

Of those 1.54 million wallets, almost half, at 754,000, relate to blockchain games. This, they say, is being driven by the growing popularity of P2E games.

The 7-day trailing average for UAWs shows a spike in games around July, going on to peak at just below 1,100. By contrast, year to date, DeFi peaked at just over 1,100 UAWs in May and has seen a sharp decline, leading to a ranging average of between 500 and 700 since.

Blockchain games like Axie Infinity are driving UAW numbers
Source: dappradar.com

As impressive as this is for the gaming sector, DappRadar states that UAW relates to unique addresses interacting with a particular smart contract. As someone may have more than one wallet, this metric should not be interpreted in the same way as daily active users.

“Unique Active Wallets (UAW) or unique wallets refer to unique addresses that interact with a given smart contract; therefore, UAW does not translate to (daily) active users (DAU).  A single individual might utilize different wallets to interact with a single dapp.”

Axie Infinity is the star, but for how much longer?

Axie Infinity is described as Pokémon but on the Ethereum blockchain. And with reports of some users generating thousands of dollars a month playing it, it’s no surprise to learn its monthly users for August topped 1.8 million.

However, DappRadar reports that, over the last 30 days, seven other blockchain games were more popular than it in terms of the number of UAW interactions. Alien Worlds on WAX was the most popular, followed by Splinterlands on Hive and Arc8 on Polygon, making the third spot.

Top games by UAW
Source: dappradar.com

Despite active wallets on WAX increasing 53% quarter-over-quarter, its dominance (as a gaming blockchain) decreased by 31% compared to Q2. This is because other blockchains had undergone massive expansion in Q3, in particular, BSC and Hive.

Game dominance by blockchain
Source: dappradar.com

With P2E offering the added element of entertainment, perhaps we’ll see metrics for gaming pulling even further away from DeFi in the future.

The post DappRadar Report: These blockchain games are more popular than Axie Infinity appeared first on CryptoSlate.

Founder of Coin Signals Funds Pleads Guilty in Crypto Scam — Faces up to 10 Years in Prison

The founder and manager of several cryptocurrency funds has pleaded guilty to luring investors to his crypto investment scam. His funds consistently lost money and his scam left investors with a $5 million loss, according to the U.S. Department of Justice (DOJ). Investors Scammed Into Investing in Coin Signals’ Funds The U.S. Department of Justice::Listen

Crypto Fund Manager ‘Coin Signals’ Pleads Guilty in $5 Million Crypto Fraud Scheme

The founder and manager of several cryptocurrency funds has pleaded guilty to luring investors to his crypto investment scam. His funds consistently lost money and his scam left investors with a $5 million loss, according to the U.S. Department of Justice (DOJ).

Investors Scammed Into Investing in Coin Signals’ Funds

The U.S. Department of Justice (DOJ) announced Tuesday that Jeremy Spence (aka Coin Signals) has pleaded guilty in a fraudulent cryptocurrency investment scheme.

Spence “solicited over $5 million from more than 170 individual investors for various cryptocurrency funds that he operated, after making false representations in connection with these funds,” the DOJ explained. Spence was charged in June.

U.S. Attorney Damian Williams detailed:

Jeremy Spence, a/k/a, ‘Coin Signals,’ admitted today to luring investors to his cryptocurrency investment scam by touting fictitious historical returns of up to 148%.

“In reality, Spence’s investments consistently lost money, and his scam left investors with a $5 million loss,” the Justice Department continued.

Spence solicited investors for several cryptocurrency investment funds that he created and managed from November 2017 through April 2019. His largest and most active funds were Coin Signals Bitmex Fund (CS Mex Fund), Coin Signals Alternative Fund (CS Alt Fund), and Coin Signals Long Term Fund.

The Department of Justice noted:

Investors who wanted to participate in a fund would transfer cryptocurrency, such as bitcoin and ethereum, to Spence in order for Spence to invest it.

“To hide his trading losses, Spence used new investor funds to pay back other investors in a Ponzi-like fashion,” the DOJ described, adding that he “distributed cryptocurrency worth approximately $2 million to investors substantially from funds previously deposited by other investors.” The Justice Department elaborated:

Spence, 25, pled guilty to commodities fraud, which carries a maximum sentence of ten years in prison.

What do you think about this case? Let us know in the comments section below.

DappRadar Report: These blockchain games are more popular than Axie Infinity

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