Here we summarize the third quarter in the Web3/NFT world using reports from various sources. We’ll discuss security and scams, blockchain gaming and NFT sales.
Blockchain security platform Immunefi, released a report showing that the Web3 marketplace lost $428.7 million to hacks and scams in the 3Q. However, that’s 62.9% less than the same period in 2021.
Coda Labs, a provider of blockchain game development services, noted in its research that despite the enormous investment in the industry, Web3 games are still far from mass adoption by regular players.
The brand new newsletter with insights, market analysis and daily opportunities.
Let’s grow together!
Coda Labs analysts surveyed 6,921 people from five countries. It turned out that ordinary gamers avoid NFT games because they don’t understand how such projects work, and also because they don’t want to have a cryptocurrency wallet.
At the same time, most users are attracted by the possibility of making money in Play-to-Earn (P2E) projects. In fact, this term is the most recognizable among average gamers.
Interestingly, gamers usually rate Web3 game projects quite highly. On average, people without cryptocurrency experience rate games with NFT at 7.1 out of 10, and crypto enthusiasts — at 8.3 points.
As shown in the data of the leading NFT marketplace OpenSea, the turnover of digital assets collapsed at the beginning of the summer and held at a low level throughout Q3. According to Dapp Radar, NFT demand volumes collapsed 62.5% over the past three months, but if we compare the quarterly result to the historical maximum, the decline was 72.8%.
In fact, everything from fan tokens to virtual portions of the Metaverse land has devalued. This once again proves the highly speculative component of NFT.
The Dapp Radar report shows that the Ethereum blockchain continues to account for the largest number of NFT transactions. In Q3, the network processed 91% of such transfers worth $645 million. The Flow and Ronin specialized blockchains processed 2.54% and 2.53% of NFT transactions.
Hello, fellow crypto enthusiasts! 👋 As we embark on another week in the ever-evolving crypto…
EigenLayer, a protocol for Ethereum restaking, recently announced an airdrop plan that garnered both praise…
Keonne Rodriguez, a figure linked to the cryptocurrency mixing service Samourai Wallet, has entered a…
The debut of spot crypto exchange-traded funds (ETFs) on the Hong Kong stock market is…
Tether, renowned for its dominant stablecoin USDT, has embarked on a significant investment journey after…
Bitcoin analyst Willy Woo forecasts that the cryptocurrency industry could achieve its first billion users…