With general crypto sentiment rising, the visibility of gaming projects, many of which are successfully launching tokens, is driving up sector activity.
One notable project is Pixels, which since launching on the Ronin blockchain in November 2023 has continued to grow its audience thanks to initiatives such as its play-to-airdrop event and collaborations with the likes of Mocaverse and, more recently, Yield Guild Gaming.
Indeed, according to open data, Pixels has now broken the two million barrier in terms of lifetime wallets on Ronin, attracting around 625,000 daily active unique wallets, according to DappRadar.
And, more generally, the entire blockchain gaming sector is also hitting all-time highs in terms of activity.
Of course, activity in terms of wallets isn’t always a good measure of actual human activity. In situations where games are giving away tokens for activity, there’s a strong temptation for people to set up automated bot wallets to try and maximize their rewards.
Nevertheless, the sector trend appears to be strongly up, as this graph from Joel John’s Decentralised Substack demonstrates.
As for other measures of data, the market cap of the top 33 blockchain gaming ecosystem tokens (those worth more than $100 million) is now $20 billion, with Immutable’s IMX token the most valuable with a market cap of $4.4 billion.