- Games and NFTs still receive most of the industry’s attention. The number of Unique Active Wallets that interact with games and NFT dapps increased by 27% and 7%, respectively, while DeFi-connected wallets remained unchanged.
- The United States had the largest blockchain audience in September, with more than 110,000 users; Indonesia and the United Kingdom increased their traffic bases by 43% and 62%, respectively, surpassing China and Thailand, becoming the third and fourth countries in terms of traffic.
- Young millennials (25-34 years old) are still the most important group of blockchain users, accounting for 37% of the total. Generation Z (18-24 years old) is closely followed by 27%, while 35-44 years old Of people accounted for 18%.
- In September, the proportion of women dropped slightly from 25% in August to 23%; in September, 77% of DappRadar users were men.
- NFT defeated games in September and became the main source of traffic; in the three main categories of the blockchain, NFT accounted for 48% of the traffic, while games and DeFi accounted for 33% and 19%, respectively.
- The game-making movement is expanding to new regions; Iran’s game-related traffic has increased by 300% month-on-month, while traffic in Northern Europe, France, and many African countries has also increased significantly.
- Industry Demographics
- After a record-breaking August, interest in NFTs is soaring
- Will earning while playing expand to new regions?
- DeFi stands firm
The blockchain industry showed signs of growth for the fourth consecutive month. In September, an average of 1.71 million unique active wallets (UAW) were connected to the blockchain dapp every day. This figure represents a 12.4% month-on-month (MoM) and an impressive year-on-year (YoY) growth of 487%.
Continuing the demographic analysis, the report considers DappRadar’s traffic in September, which includes more than 650,000 users. As in previous months, the United States and the Philippines remain the two most important countries in terms of transportation. However, the gap between the two countries is large, as the U.S. has nearly 110,000 users per month, while the Philippines has 37,000. In the traffic ranking, we found that Indonesia (33.5K) and the United Kingdom (31K) are ranked third and fourth respectively. The quarter-on-quarter growth of these two countries was 43.1% and 62.1%, respectively, surpassing China (30K), Thailand (26K), India (25K) and Brazil (24K) in the corresponding rankings.
Compared with the previous month, the other country with the most significant traffic growth is Iran. This Middle Eastern country recently participated in government discussions on cryptocurrency mining. In contrast, Southeast Asian countries have been reducing traffic. For example, traffic from the Philippines fell by 33% month-on-month, while traffic from Thailand and Vietnam was 14% and 11% lower than the August traffic figures.
Another important aspect of future monitoring is the way blockchain users interact with decentralized applications. In the first half of 2021, mobile devices are the first choice for connecting DappRadar resources. However, as shown in the figure below, this trend was reversed in August, and desktop devices are now the main means of interaction.
Currently, the most important Web3 features are only available on the desktop, or at least more effective on the computer. However, as wallets and some blockchain games become ubiquitous in mobile devices, this trend is likely to change again.
Additional demographic analysis shows that age range has always been one of the most constant variables in DappRadar traffic. Young millennials between the ages of 25 and 34 are the dominant group, generating more than 37% of incoming traffic. Followed by the Z generation, 18-24 years old, accounting for 26%, 35-44 years old age group created 20% of the traffic. Compared with the August figure, there is no significant difference in any range.
Finally, by analyzing the gender of traffic in September, we found that women’s participation in the space has slightly decreased. Although the male-to-female ratio is very close to 3:1, this ratio has been on the rise until May when the male-dominated ratio was 4:1.
In general, the main demographic indicators have not changed significantly from the previous month. The most significant changes are reflected in geographic regions, where users in Indonesia and the United Kingdom surged in September, while interest in Southeast Asia seems to have cooled.
After a record-breaking August, interest in NFTs is soaring
Since the beginning of the third quarter, the gaming and NFT categories have made positive progress. On the one hand, the game money-making campaign led by Axie Infinity has become a sensational headline news, helping blockchain games enter the mainstream channel. This trend is particularly relevant to emerging economies, where the potential value of passive income is notorious.
On the other hand, the hype surrounding NFT has helped space reach the stratospheric level. In only three months in the third quarter of 2021, the NFT space generated more than 10.67 billion US dollars in transaction volume. In the long run, this is more than the sum of the remaining time in 2019, 2020 and 2021.
Analyzing DappRadar’s traffic by category, we can see the trend reversal that occurred in September. NFT became the leading category in terms of traffic for the first time. After a record August NFT transaction volume reached US$5.2 billion, and VISA bought CryptoPunk #7610 for US$150,000 and other headlines, NFT overcame the high interest caused by the narrative of earning revenue through games in the previous months.
According to the interaction measured by DappRadar, the United States is the country with the most NFT-related incidents on record. China ranks second, with one-third of interactions coming from the United States. Turkey, Russia and Thailand are among the top five.
The United States is expected to top the NFT rankings. According to Forbes, the United States has a $5.4 billion sports memorabilia market and has one of the largest sports fan bases in the world. In addition, Hollywood celebrities such as Snoop Dogg, Jay-Z and Stephen Curry have become true ambassadors of the NFT community.
Although some mature NFT collections, such as CryptoPunks or NBA Top Shot, are far from the transaction volume generated in previous months (transaction volume decreased by 58% and 45% respectively from the previous month) , newer collections such as CrypToadz, MekaVerse and Sneaky Vampires Syndicate, created more than 2.5 billion in revenue in less than a month.
By generating utility in different ways or by creating well-connected communities, older but well-designed NFT projects are stimulating investor interest. In addition, by providing visibility to digital artists around the world, the NFT space has become more global.
It is worth noting that Russia’s NFT interaction increased by 108% month-on-month , and the country has created one of the most famous NFT markets, Rarible . Like Russia, NFT interactions in the UK increased by 44% from last month. Ukraine and Romania are other countries where the number of NFT interactions at least doubled from last month.
Will earning while playing expand to new regions?
It seems that the story of making money from games is losing momentum. Somehow, it was diluted between the large number of reports received by the NFT and the recent surge in cryptocurrency prices. However, on-chain analysis shows that this is not the case. Since July 2021, usage in this industry has been driven by games.
In the past few months, Asian countries such as the Philippines, Thailand, or Vietnam have been the main traffic drivers like China, but the September data tells a different story. Compared with August, game-related traffic in the Philippines, Taiwan, and Vietnam dropped by 58%, 43%, and 40%, respectively.
Back to NFT, we can observe another September downside in the gaming sector. In blockchain games, NFT represents the items, characters and virtual land in the game. The transaction volume of game NFTs in September dropped by 17% compared with August, and only created sales of 640 million US dollars. In addition, the dominance of games in NFT transaction volume fell by 2% during the same period.
However, there are some positive signs looming on the game horizon. First of all, there are a large number of blockchain games that are still in the development stage. Several gaming dapps across different protocols are preparing to launch their functions in the coming months. Metaverse and games with comprehensive token economics will completely change the way we play games.
In addition, after analyzing the top 10 dapps that generate the most user interactions, we found that 9 out of the 10 dapps are blockchain games. The interest in the game may not be as high as in previous months, but it will not disappear anytime soon.
Finally, as disclosed in previous behavior reports, the sport of playing and making money is not specific to a certain type of economy. We identified users from countries such as Northern Europe, Canada, and France, and increased their interest in the game. In addition, countries such as Iran and Greece have also begun to show interest in this field. It is worth noting the situation in Iran, where game users increased by 300% month-on-month. As mentioned earlier, there has been discussion around crypto mining, but their interest in games is real. As Ian Kane pointed out, “Game token mining does not involve expensive equipment—just a laptop or mobile phone. In the past three months, the use of DappRadar sites from Iran has increased by more than 160%.” Worth Pay attention to this behavior.
DeFi stands firm
Although games and NFTs have become the focus of attention since the first half of 2021, the field of Defi has become very interesting. Blockchains such as Solana, Terra, and Avalanche have become extensive DeFi networks, with a total value lock (TVL) totaling more than 20 billion U.S. dollars.
Contrary to games where Asia is still dominant or the United States has a strong interest in NFTs, the DeFi field does not entirely depend on a particular region. Thailand is the country with the most DeFi interactions, followed by the United States, Brazil, Spain and Indonesia.
Overall, the industry’s TVL is estimated at US$178 billion , which is 2% lower than the August TVL, but 27% higher than the July record. UAW related to DeFi dapps stagnated throughout the third quarter, but there is still a feeling that decentralized finance may be close to wider use.
Widespread use is undoubtedly a positive sign. Although the TVL numbers do not seem encouraging, unless any negative events occur, the competition brought by the above three blockchains will attract more value. In addition, as shown by the monthly trend of UAW and DeFi dapp interactions, interest in DeFi is almost declining. Although the industry is expanding, value has not flowed from DeFi to other peer categories.
The demographic analysis applied to DappRadar’s main traffic indicators helps to assess the underlying patterns of consumer behavior and thereby better understand user decisions. Although there are no important trend differences from a demographic point of view, there are still some behaviors to be aware of.
Once again, the United States is still the largest market in the industry. Their demand for NFT is the largest in the world, and their interest in DeFi and blockchain games is still high. Although some major Ethereum series remained stagnant in September, it was the newer series that generated value. In addition, it should be noted that the participation of NFTs in other countries such as Russia and the United Kingdom may indicate that there is still room for growth in the demand for NFTs.
At the same time, the participation of Southeast Asian countries declined slightly. Especially in the narrative of making money in games. Individuals from countries such as the Philippines, Vietnam, and Thailand may have fully participated in blockchain games. Their main need is to immerse themselves in the gaming experience, not to explore other options. On the other hand, the situation in Iran, El Salvador and other emerging African economies still exists, and the money-making movement in these countries has just begun. It is likely that the movement is delayed due to information asymmetry or other types of regulatory friction. The media where mass games make money may come later than other regions.
Just like in the top NFT collections, the number of NFT items in the game has dropped from August. Coupled with the downward trend in Southeast Asia during the same period. However, the situation looks positive. As attractive blockchain games are ready to be launched and interest in other regions increases, the game of making money is far from over.
In the end, even though DeFi hasn’t recently emerged astonishing indicators, TVL is still holding its ground. It is still one of the broadest categories, with no obvious geographical advantage. Reaching as many users as possible is essential for mass adoption.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/blockchain-user-behavior-report-from-the-perspective-of-gaming/
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