According to Defy Insight platform Dapradar, blockchain-based games and NFT trading were the main drivers of DAP adoption during Q3. In his DAP Industry Report: Q3 2021 Overview, Dappader says the importance of these new activities in the crypto industry has increased dramatically, making the process more diverse and competitive. Daffy has got one more project with platforms like Solana and Terra so that more projects can be taken up.
Dappradar: What were the NFTs and play-to-earn keys during Q3?
According to the DAP Industry Report, NFT and game-to-earnings games were very important for the industry in the last quarter: Q3 2021 overview released by Dapadar. The report says that the sector has surpassed the conventional decentralized app in the unique active wallet, which is proof of the popularity of these tools nowadays.
The play-to-earn movement attracted more than 754,000 daily unique active wallets during Q3, providing more activity than other established decentralized finance protocols. The game was the result of Axie Infinity’s disruption to the market last quarter, a blockchain game that has already moved more than 6 1.6 billion. The NFT sector has also experienced unprecedented growth, increasing its value by 704% per quarter.
What is diversity?
The reason for all this growth in the pre-industrial or marginal sector of the industry is that the direction the market has taken gives value to diversity. This is the view of Modesta Jurgelevičienè, head of finance and research at DappRadar, who says:
If I add Q3 to a single word, it will be ‘diversity’. The play-to-earn movement became a key driver in space, NFTs leaned towards greater utility and secured record volumes, and the Defy space became more attractive and competitive like Solana and Terra.
In general, it gave the market a new lease of life at a time when prices were stable. The blockchain sector has managed to expand overall, recording 25% quarter-over-quarter and 509% growth year after year.
Although Etherium is an irresistible leader in the deficit market, two blockchains have entered space with power. Solana reached এ 8.28 billion in TVL this quarter, a huge 1,300% increase over the previous quarter. Also, Terra has gradually made itself more relevant by introducing anchor-like protocols, which provide a 20% APY on fixed coin deposits. Terra TVL is 8.09 billion, up 137% from the previous quarter.
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