DappRadar Drops May Report
Manuel Olumorin
May 12, 2023
GM GM. It’s Lootbox here wishing all mamas HAPPY MOTHER’S DAY in advance since we don’t get to reach you on Sunday.
And luckily, look what we found in a dungeon on our last mission for loot.
Let’s get to the box of roses for the day.
DappRadar May 2023 Report
Ownership in web3 is BS?
The Sneakies
DappRadar May Report
DappRadar dropped their May 2023 Report for gaming activity in April. So here’s the 9-minute read cut down to 1 version.
The number of Unique Active Wallets (UAW) dropped 22.4% since the beginning of the year, with Splinterlands and Alien Worlds conducting the purge to eliminate bots from their games.
Top gaming chains - WAX remained the top dog of gaming chains as Polygon held on to the 2nd place it recently obtained. Big ups to them.
But what is interesting is the silent uprising of the baby chains. Arbitrium gained 118% more users in a month, and the new kid on the block, Sui, is causing devs to do a double-take before joining the established chains.
Bitcoin may become a gaming chain. At least that’s what Genopets is doing, bringing their next mint to Bitcoin Ordinals with Gold Baby Genopets Bitcoin NFTs. Wow, that was a mouthful!
Anyway, back to it. Genopets plans to use this to bring cross-chain functionality to their game.
Good fundraising season - Games continue to have a good funding season (sort of), with $421 million raised. More than half of it was gobbled up by Bitkraft for their second token fund, with $221 million going to them.
The Epic Store - The future may be bright for blockchain games in the Epic Store as the number of titles is slowly growing. Now up to 18 titles, many of them are offering early access.
Let’s leave you with the top 10 games in April.
Ownership In Web3 Gaming Is BS
Those are the bold words of Vader, aka @VaderResearch, on Twitter.
Ownership in Web3 Gaming is Bullshit 🧵
An Objective Take on "NFT Ownership" in 15 Tweets
👇
0/15 https://t.co/SkQRrLd9Dy
— Vader (@VaderResearch)
May 11, 2023
And
So here’s the TLDR of what they said
Ownership is pretty much an illusion for the following reasons
Visuals for gaming NFTs are stored off-chain in centralized databases that, once offline, all you are holding is an empty bag the title.
Current copyrights prevent games from just slapping IP from another developer into their game without any agreement. This also cans the case for interoperability. You can’t use the IP wherever you like.
Game NFTs can be nerfed or buffed. We’ve seen this happen in Axie Infinity to balance the game.
The NFT can be diluted by devs minting multiple copies of it.
New NFT standards could limit the ability to trade on any marketplace.
Lootbringer’s take
Hard to argue against these points. And this shows there is still a lot of work to do, both on the tech and the regulatory sides (Copyright Laws).
Fully on-chain games would solve many of these issues, but we don’t know if gamers would care yet. 🤞it works out.
The Sneakies
The private web3 browser, Aloha, partners with Moonpay to integrate crypto on-ramp to its browser with the usual suspects in payments like debit, credit cards, Apple Pay, Google Pay and more.
Regulatory uncertainty in the US is seriously putting a damper on the development of web3 games as highly anticipated MechaFightClub from Irreverent Labs gets paused indefinitely after raising $40 million.
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