August 03, 2022<\/p>\n\n\n\n
By Anjali Kochhar<\/p>\n\n\n\n
Blockchain gaming and the metaverse have been least affected by Terra\u2019s collapse in May, while decentralized finance and non-fungible tokens (NFTs) were not so lucky, a new report has found out.<\/p>\n\n\n\n
A report<\/a><\/u>\u00a0published by decentralized application (DApp) data aggregator DappRadar last week found that the collapse of Terra in May was similar<\/a>\u00a0in scale to the 2008 subprime mortgage crisis.<\/p>\n\n\n\n \u201cIt is becoming clear that the Terra debacle has become a Lehman brothers-like event that has sent shockwaves across the entire breadth of the crypto industry and aftershocks that will affect us for many months,\u201d the report said.<\/p>\n\n\n\n However, the report noted that blockchain gaming and metaverse projects showed either minimal drawbacks or even positive signs of growth in the same period.<\/p>\n\n\n\n According to the report, DeFi and NFTs saw the biggest drops with 14.8% and 12.2% apiece, while blockchain games and NFT-related metaverse projects \u201cmanaged to sidestep the ensuing bear market\u201d by posting increases of 9.51% and 27% each.<\/p>\n\n\n\n While the average amount of activity from unique active wallets (UAWs) in NFTs dropped by a hefty 24% in Q2, blockchain gaming saw a drop of just 7%, suggesting that users continue to interact with gaming DApps \u201cat a more or less the same rate as before the Terra incident.\u201d<\/p>\n\n\n\n The trading volume for metaverse-related NFT projects was also described as a \u201cbeacon of hope,\u201d as volumes increased by a whopping 97%.<\/p>\n\n\n\n The research noted that amongst the most NFT-friendly countries, Montenegro takes the number one spot with 86.2% positive tweets. Bosnia, Herzegovina, and Luxembourg share a close second place with 78% positive sentiment. Cuba takes the third spot with 71% approval.<\/p>\n\n\n\n On the other end of the spectrum, Poland ranks as the most NFT apprehensive country, with 23% negative posts followed by Nicaragua with 22% and Belize in third place with 19.3%.<\/p>\n\n\n\n About the author<\/strong><\/strong><\/p>\n\n\n\n Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.<\/p>\n","protected":false},"excerpt":{"rendered":" August 03, 2022 By Anjali Kochhar Blockchain gaming and the metaverse have been least affected by Terra\u2019s collapse in May, while decentralized finance and non-fungible tokens (NFTs) were not so […]<\/p>\n","protected":false},"author":2,"featured_media":1508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/1507"}],"collection":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/comments?post=1507"}],"version-history":[{"count":2,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/1507\/revisions"}],"predecessor-version":[{"id":1521,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/1507\/revisions\/1521"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/media\/1508"}],"wp:attachment":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/media?parent=1507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/categories?post=1507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/tags?post=1507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}