Two Crypto Sectors Growing Rapidly, Defying Overall Market Correction: DappRadar
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Two nascent crypto sectors are bucking current crypto trends and rapidly growing despite a stumbling market, according to blockchain tracker DappRadar.
Per a new report, the popularity of non-fungible tokens (NFTs) and blockchain gaming are at least partially driven by interest from the Asian markets.
DappRadar says countries like China, Indonesia and India are exploding in terms of user base, overtaking the US as the epicenter of activity.
“The Asian market continues to increase its footprint within the industry overall.
With a high interest in blockchain games and the potential for NFTs, the Asian region is undoubtedly one to closely monitor.”
The report highlights that the two crypto sectors appear unaffected by the macro factors that influence the rest of the digital markets, and instead exist in their own independent ecosystems.
DappRadar predicts that NFTs and gaming will continue to grow on the back of emerging use cases and mainstream adoption.
“Both NFTs and blockchain games performed strongly in 2021, and it appears that the trend will continue. Especially when considering the upcoming project releases and the potential use cases for both ends.
While the price of cryptocurrencies is volatile by nature, the adoption, volumes, and usage of blockchain games and NFTs have only increased constantly. It will be interesting to see whether maturity in both spaces will generate sensitivity to the price of their underlying tokens.”
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