OneQuarterLife posted the following on Reddit:

We've switched to a fork of Waydroid that supports Nvidia GPUs. If you've already initialized Waydroid you'll need to reset it and initialize it again, but after doing so you can finally enjoy Android apps like AMD/Intel users have.

• Run ujust configure-waydroid in the terminal.
• Choose Reset Waydroid.
• Choose Initialize Waydroid.
• Finish the Waydroid configuration.
• Select your NVIDIA GPU in the GPU selection menu.
• Stop the Waydroid session: waydroid session stop
• Run the NVIDIA setup manually: sudo waydroid-nvidia-setup
• Enable and start the required services: sudo systemctl enable --now waydroid-container.service && systemctl --user enable --now wd-venus.service
• Start Waydroid.

Thanks to damin13 for the friendly instructions, we'll make this friendlier through ujust in the near future.