January 2022 continues to be rough for crypto investors as current markets see turbulent fluctuations in the price of Bitcoin (BTC) and other cryptocurrencies. Some have attributed the slump to recent federal intentions to introduce new rate hikes, và political turmoil in Kazakhstan, which significantly lowered the hash rate of Bitcoin. On Jan. 14, the price of Bitcoin dipped below $42,000 as traders continued to hold out hope for bullish signals.
Nonfungible token (NFT) trading and blockchain games, on the other hand, seem to have resisted the dip. Theo to reports from DappRadar, NFT transactions continued to increase amid declining crypto prices. The report stated that “the number of UAW connected to Ethereum NFT DApps grew by 43% since Q3 2021.” Numbers from the report also show that the money generated by NFT trading went from $10.7 billion in Q3 2021 to $11.9 billion in the first ten days of 2022. Recent developments in the NFT space, such as the launch of the LooksRare marketplace, may have also contributed to this growth.
The report also stated that “blockchain games continue to be widely used,” and noted that they “represent 52% of the industry’s usage.” Expanding metaverse developments alongside the growing success of the play-to-earn model have also strengthened the case for blockchain games to continue growing throughout 2022.
The growing interest in NFTs and blockchain gaming during this market slump can partially be attributed to Chinese audiences, which coincides with the recent announcements from China that say that the country will begin developing its own non-crypto NFT industry. According to DappRadar’s report, “China is now the country with the most extensive user base…increasing 166% from the numbers registered in November.”
Mặc dù Hoa Kỳ hiện đứng thứ hai về lưu lượng truy cập tổng thể, quốc gia này vẫn có 175,000 người dùng mới trong hệ sinh thái NFT, tăng trưởng khoảng 38%. Điều này một phần đến từ sự quan tâm ngày càng tăng của khán giả trẻ khi Millennials và Thế hệ Z bắt đầu chiếm tỷ lệ lưu lượng truy cập cao hơn.
DappRadar báo cáo rằng “30% lưu lượng truy cập đến từ những người dùng ở độ tuổi này… [với thế hệ millennials] tăng từ 36% được quan sát từ năm ngoái”.