Games and NFTs are the driving force behind Dapps in Q3, according to Dappradar –

Blockchain-based gaming and NFT trading were the driving force behind Dapp's launch in the third quarter, according to Defi insights platform Dappradar. In its Dapp Industry Report: Q3 2021 Overview, Dappradar notes that the importance of these new activities in the crypto industry has increased dramatically, making the space more diversified and competitive. Defi has also gotten a boost as platforms like Solana and Terra mature to accommodate more projects.

Dappradar: NFTs and play-to-earn were key in the third quarter

NFTs and play-to-earn games were very important to the industry last quarter, according to Dappradar's Dapp Industry Report: Q3 2021 Overview. The report States The sector has surpassed traditional decentralized apps in unique active wallets, a testament to the popularity of these tools today.

The play-to-earn movement attracted more than 754,000 daily unique active wallets in the third quarter, offering more activity than other more established decentralized finance protocols. This increase is partly the product of last quarter's market slump by Axie Infinity, a blockchain play that already stirred more than 1.6 billion dollars. The NFT sector also saw unprecedented growth, increasing its value by 704% quarter-on-quarter.

Diversification is key

The reason for all this boom in previously ignored or marginalized sectors of the industry has to do with the direction the market has taken, giving value to diversification. This is the opinion of Modesta Jurgelevičienè, Head of Finance & Research at DappRadar, who said:

If I were to sum up Q3 in one word, it would be “diversification.” The play-to-earn movement became a major driver in the space, NFTs turned to greater utility and secured record volumes, and the DeFi space became much more interesting and competitive with Solana and Terra.

In general, this has given new impetus to the market at a time when prices were stagnant. The blockchain sector continued to expand overall, recording growth of 25% quarter-on-quarter and 509% year-on-year.

While Ethereum is the undeniable leader in the Defi market, two blockchains have entered the space with force. Solana reached $8.28 billion TVL this quarter, an increase of a whopping 1,300% compared to last quarter. Also, Terra has slowly become more relevant with the introduction of protocols like Anchor, which offers 20% APY over stablecoin deposits. Terra's TVL is $8.09 billion, up 137% from last quarter.

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