AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- According to DappRadar, in the month of August, the DApps saw more than 2 million unique wallets registration, 18.14% increase from July.
- Further, DappRadar analysis indicated that the blockchain gaming sector has increased in August by 17%.
- In August, NFTs volumes exploded, surpassing $5.29 billion in total sales. This represents a 315% increase month-on-month.
The Decentralised Applications (DApps) has been the talk of blockchain town in recent times that has got all the developers engaged and buoyant. Considered to be one of the latest ways to leverage blockchain technology, developers are exploring the DApps industry. More and more developers are charting the waters of DApps and are becoming successful at it as well. Unlike traditional apps, DApps is a form of permissionless app it doesn’t require a middleman for connecting users and developers. Besides, DappRadar analysis further highlighted the rise in the volume of the NFT sales.
Also Read: NFT Explained: Here's what we know so far!
According to DappRadar, in the month of August, the DApps saw more than 2 million unique wallets registration, 18.14% increase from July and an 883% increase year-on-year. With more and more online gaming companies venturing into cryptocurrencies, DApps are becoming a common sight. Further, DappRadar analysis indicates that the blockchain gaming sector has increased by 17% in August and around 880,000 unique gaming wallets interaction were registered.
NFT volume surpasses $5billion
DappRadar analysis also indicated the rise in the volume of the NFT sales for the very first time. In fact, August has been one of the best months for the non-fungible tokens industry. The demand for the NFT space has been an aggressive one in 2021, with many celebrities, sports clubs, artists, musicians prompting to use NFTs as the next way of interacting with fans and venture into cryptocurrency space. In August, NFTs volumes too exploded, surpassing $5.29 billion in total sales. This represents a 315% increase month-on-month and an outstanding 1,103% rise when compared to June.
OpenSea is the largest marketplace for NFTs contributed to the NFT volume increase. OpenSea volume saw it surge past $1 billion in monthly transactions and volume increased by 286% from July to August. The industry is expanding at increasing rates. With NFTs and DeFi driving volumes, the industry has become more competitive than ever. Newer NFT collections like 0N1 Force and Mutants Ape Yacht Club too have left significant impact on the market in less than a month of its existence.
Conclusion
With the NFT boom and healthy growth in the DApps industry, the cryptocurrency market is all poised to grow from here. With the cryptocurrencies entering the gaming platforms, it has given a whole new dimension to the DApps developers to thrive and become a separate force to recon in the near future.
