Q3 2021 overview report published by the DeFi insight platform, Dappradar, claims that blockchain-based NFTs and Games are the main driving force behind the Dapps. This new activity in the crypto market has risen significantly, added the Dappradar report. The report also explains that DeFi has got a boost due to maturing platforms like Terra and Solana to gain more projects.
NFTs and Games are the driving force behind Dapps:
Dappradar has published its Dapp industry report of the session Q3 2021. This report has informed us that traditional apps are far behind in unique active wallets and is a testament to the popularity of these tools nowadays. The report states that NFTs and Games are playing a key role in the industry of Dapps. The Play-to-earn movement has added more than 754,000 daily unique active wallets. These numbers are more active than other established finance protocols.
The NFT sector has gained 704% which is much more than expected growth. The head of Finance and Research at Dappradar has expressed his opinion by saying:
If I were, to sum up, Q3 in a single word, it would be ‘diversification’. The play-to-earn movement became a key driver in the space, NFTs turned towards greater utility and secured record volumes, and the DeFi space got a lot more interesting and competitive with the likes of Solana and Terra.
Despite showing how much NFTs and Games have done, the report also states that the blockchain sector has gained more than 509% year-over-year. Solana has progressed a lot by gaining more than 1300% compared to the last quarter which is due to NFTs and Games. Terra is also working tirelessly to introduce the protocol like Anchor.
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