Crypto

Facebook’s Rebranding to “Metaverse” is a Blockchain Boost

Decentralized games are essential in the future metaverse that men like Facebook CEO Mark Zuckerberg sought to create. However, gaming businesses such as Valve, which recently banned blockchain-based games from Steam, have spoken out against them. However, if these corporations continue to scoop up income, it will be more difficult for them to argue against these games.

According to crypto-journalist Colin Wu, who quoted statistics from Token Terminal, a data analytics platform for crypto assets, popular blockchain-based game Axie Infinity has topped NFT-platform OpenSea in 30 days income numbers for the first time.

Wu noted on Twitter,

“In the past 30d, Axie Infinity continued to lead the way with $190.9 million in revenue from Dapps. With the cooling of the NFT market, dYdX surpassed OpenSea with 30d $66.9 million in agreement income.”

In comparison, OpenSea, one of the world’s largest NFT-auctioning platforms, made $66.9 million during the same period.

NFT Games Rising

Axie Infinity has experienced rapid growth in the last three months, with income increasing by more than 200 percent. The game’s token, AXS, hit an all-time high of $162 due to Mark Zuckerberg’s plans to transfer Facebook’s priority to constructing the metaverse. Last week, Facebook changed its name to Meta and said that it would focus on virtual reality and augmented reality products to expand the metaverse. Over the last three months, the AXS token has grown by 200 percent.

Facebook’s metaverse plans may benefit the social media giant in the future, but it is now assisting blockchain game developers. Axie Infinity isn’t the only game to have grown in popularity. Since Facebook’s rebranding less than a week ago, Decentraland’s MANA has increased by 300 percent.

Four of the top ten games in terms of volume have acquired more than 20% users in the last seven days, according to DappRadar. Wanaka Farm, for example, has seen a 500 percent surge in users in the last seven days, while Axie Infinity’s user base has expanded by 5% in the same time period.

NFTs have been hailed as a key component in the future of multiplayer gaming. They can be used to sell in-game products, as well as secure them from being hacked or stolen in other ways because they imply ownership of digital items.


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