Demand for Avalanche subnets grew rapidly in 2023. Avalanche’s NFT trading volume hits a 1-year high. The Avalanche [AVAX] ecosystem expanded considerably since the start of 2023 and a testimony to this fact was the rise in the network’s development activity. According to a tweet by an analyst, the number of active developers working across […]
grew rapidly as well. Subnets are the preferred scaling solution for Avalanche which allows users to create and run their own blockchain networks.Realistic or not, here’sGameFi has become one of the fastest-growing sectors in the Avalanche ecosystem. The platform has entered into high-profile partnerships of late to boost its appeal in the play-to-earn landscape.
App-specific blockchains, or subnets, provide a big incentive to gaming platforms if they want greater control over infrastructure such as using a native token for transaction fees, which can ultimately reduce the cost of playing.to launch an NFT gaming marketplace ‘Loco Legends’ using its subnets.earlier this month which chose Avalanche for their plunge into the Web3 world., top games like DeFi Kingdoms, Pizza Game, and Avaxtars recorded weekly growth of 19.5%, 5,48%, and 211.
Consequently, there was a substantial increase in the number of mentions of AVAX on different crypto social channels. The weighted sentiment surged as well, indicating that investors were optimistic about the coin’s prospects.However, there were a few concerning signals as well at the time of writing. The daily active users on Avalanche fell by 18% in the last week as per Token Terminal.
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