ETFdb Logo
ETFdb Logo
  • ETF Database
  • Channels
    • Active ETF
    • Alternatives
    • Beyond Basic Beta
    • China Insights
    • Climate Insights
    • Commodities
    • Core Strategies
    • Crypto
    • Disruptive Technology
    • Dividend
    • Dual Impact
    • Emerging Markets
    • Energy Infrastructure
    • ESG
    • ETF Building Blocks
    • ETF Education
    • ETF Strategist
    • Fixed Income
    • Free Cash Flow
    • Future ETFs
    • Global Diversification
    • Gold/Silver/Critical Minerals
    • Innovative ETFs
    • Institutional Income Strategies
    • Leveraged & Inverse
    • Managed Futures
    • Market Insights
    • Megatrends
    • Modern Alpha
    • Multi-Asset
    • Night Effect
    • Portfolio Strategies
    • Retirement Income
    • Richard Bernstein Advisors
    • Tax Efficient Income
    • Thematic Investing
    • Volatility Resource
  • Tools
    • ETF Screener
    • ETF Country Exposure Tool
    • ETF Sector Tracker Tool
    • ETF Database Categories
    • Head-To-Head ETF Comparison Tool
    • ETF Stock Exposure Tool
    • ETF Issuer Fund Flows
    • Indexes
    • Mutual Fund To ETF Converter
    • ETF Data for Journalists
    • ETF Nerds
  • Research
    • First Bitcoin ETF
    • ETF Education
    • Equity Investing
    • Dividend ETFs
    • Leveraged ETFs
    • Inverse ETFs
    • Index Education
    • Index Insights
    • Top ETF Sectors
    • Top ETF Issuers
    • Top ETF Industries
  • Webcasts
  • Themes
    • AI ETFs
    • Blockchain ETFs
    • See all Thematic Investing ETF themes
    • ESG Investing
    • Marijuana ETFs
  • Multimedia
    • ETF 360 Video Series
    • ETF Trends on Videos
    • ETF Trends on Podcasts
    • ETF Prime Podcast
  • Company
    • About Us
    • Swag Store
  • PRO
    • Pro Content
    • Pro Tools
    • Advanced
    • FAQ
    • Pricing
    • Free Sign Up
    • Login
  1. Crypto Channel
  2. Despite Crypto Calamity, Blockchain Gaming Proves Resilient
Crypto Channel
Share

Despite Crypto Calamity, Blockchain Gaming Proves Resilient

Tom LydonDec 05, 2022
2022-12-05

The demise of FTX is pressuring multiple corners of the cryptocurrency ecosystem and having the predictable effect of challenging investors’ willingness to hold digital assets, including crypto-correlated equities.

While FTX’s collapse is having a contagion effect — which some experts argue the extent of which isn’t fully known — some corners of the crypto industry are proving surprisingly resilient. Those include blockchain-based gaming, which has long been seen as an important growth driver for broader blockchain adoption beyond digital currencies.

That positivity could be a plus for exchange traded funds such as the VanEck Digital Transformation ETF (DAPP C)+. For its part, DAPP recently showed signs of perking up, gaining almost 4% last week.

“Despite the FTX collapse, Web3 games continue to be a driving force for the dapp industry. In October and November, gaming activity accounted for almost half of all blockchain activity tracked by DappRadar across 50 networks, with 800,875 daily Unique Active Wallets (UAW) interacting with games’ smart contracts in November,” reported DappRadar.

The evolution of blockchain gaming underscores the broader usage for related technologies. While that usage case has long revolved around serving as the digital ledger for digital currency transactions, investors are awakening to the point that there’s much more to the blockchain story.

The “more” includes applications with digital identification, medical records, real estate, wills and trusts, gaming, rewards platforms, and much more. Add to that, the intersection of blockchain and gaming is pertinent in the nascent non-fungible token (NFT) market.

“The impact of blockchain games is also visible in the NFT market, where in-game NFTs had a total trading volume of $55 million in the past two months. Gods Unchained remains the top game by trading volume, generating 60% of the total trading volume for game asset,” according to DappRadar.

Perhaps bolstering the blockchain thesis — and gaming is relevant on this point, too — is the technology’s applications within the metaverse, which is another young market that may have ample growth potential.

“Even though the investments in blockchain-based games and Metaverse projects declined in the past months, $534 million was raised in October and November. It is also worth noting that many projects focused on building Web3 gaming infrastructure. Examples of these are Horizon Blockchain Games and Fenix Games, which have both raised a total of $190 million,” concluded DappRadar.

DAPP’s blockchain-related holdings include Block (NYSE:SQ) and Coinbase (NASDAQ:COIN).

For more news, information, and analysis, visit the Crypto Channel.

Loading Articles...
Help & Info
  • Contact Us
Tools
  • ETF Screener
  • ETF Analyzer
  • Mutual Fund to ETF Converter
  • Head-To-Head ETF Comparison
  • ETF Country Exposure Tool
  • ETF Stock Exposure Tool
  • ETF Performance Visualizer
  • ETF Database Model Portfolios
  • ETF Database Realtime Ratings
  • ETF Database Pro
More Tools
  • ETF Launch Center
  • Financial Advisor & RIA Center
  • ETF Database RSS Feed
Explore ETFs
  • ETF News
  • ETF Picks of the Month
  • ETF Category Reports
  • Premium Articles
  • Alphabetical Listing of ETFs
  • Best ETFs
  • Browse ETFs by ETF Database Category
  • Browse ETFs by Index
  • Browse ETFs by Issuer
  • Compare ETFs
Legal
  • Terms of Use and Privacy Policy
  • © 2023 VettaFi LLC. All rights reserved.
Follow ETF Database
Follow ETF Database

Advertisement

Is Your Portfolio Positioned With Enough Global Exposure?

ETF Education Channel

How to Allocate Commodities in Portfolios

Tom LydonApr 26, 2022
2022-04-26

A long-running debate in asset allocation circles is how much of a portfolio an investor should...

Core Strategies Channel

Why ETFs Experience Limit Up/Down Protections

Karrie GordonMay 13, 2022
2022-05-13

In a digital age where information moves in milliseconds and millions of participants can transact...

}
X