Blockchain Game Market Visual Report: NFT Transactions (01/2019–02/2020)
In order to provide a more easily digestible format for reviewing recent NFT transaction trends within the blockchain game market, for your convenience we’ve shifted our focus to providing a visual format for our data reporting.
The data referenced is in accordance to the following conditions (referenced via miime, Etherscan and BigQuery):
- NFT transactions from OpenSea, Auctionity, and in-game marketplaces such as within CryptoKitties
- Utilising ETH or WETH (excluding original tokens such as MANA)
- Transactions between the period of 06/01/18 to 02/29/20
Contents
- Total Period (06/01/18–02/29/20)
- Market Trend - Previous 3 Months (12/29/19–02/20/20)
- Market Trend
- Transaction Share by Title
- Top 3 Title Transaction Volume / User Trend
- Top 2 Items by Total Transaction Volume
- Market Share by Category
- Trading Volume by User Type
- Trading Volume by Trade Type
Total Period (06/01/18–02/29/20)
■ Market Trend（Monthly）
- Trade Volume: ETH-denominated trades have declined in recent months, while USD-denominated trades have seen a gradual increase.
- Transactions: The surge in popularity of Gods Unchained from October 2019 saw a dramatic rise in transaction volume over the following months, while a sharp drop in February brought the number of transactions back to the level of September 2019.
- MAU: December 2019’s peak was followed by a decrease in monthly active users across January and February, however a slight increase in new users across this same period could indicate a continuing pattern of acquisition growth over the coming months.
Previous 3 Months (12/29/19–02/20/20)
■ Market Trend（Weekly）
- Trade Volume: Despite trade volume fluctuating from week to week, it can be seen that both ETH- and USD-denominated trades have continued to be flat.
- Transactions: While the number of weekly transactions across December 2019 and January 2020 varied greatly, February saw a drop to a relatively stable amount.
- WAU: Looking at weekly data, although the number of actively trading users gradually decreased after the December 2019 peak, February showed signs of increased trading activity and increasing user acquisition.
■ Transaction Share by Title
Gods Unchained has undoubtedly dominated the secondary transaction market across this 3 month period, accounting for 30% of all trades and indicating the intensity of user excitement following its release.
■ Top 3 Title Transaction Volume / User Trend
In addition to familiar user favorites, Brave Frontier Heroes has seen a surge of popularity following its release in February.
Despite having a lower transaction share rate in comparison to the top titles, the game was ranked 11th for all transactions in February alone and is expected to significantly increase into the near future.
■ Top 2 Items by Transaction Value
The item with the highest transaction value within the last 3 months was an Axie Infinity character, traded at 60 ETH. Although the game itself is yet to be considered a top title within its genre, when viewing it by its individual items it can be said it still has the potential to be a title with increasingly high value.
■ Market Share by Category
It can be seen that the genres with the highest market share are TCG, Battle, and Craft. While until recently the CryptoKitties-fronted Collection category found itself in a higher position, the release of more serious titles such as God’s Unchained and My Crypto Heroes — in addition to virtual world titles similar to Cryptovoxels — has seen a dramatic increase in transactions by users wanting a less casual gaming experience.
■ Trading Volume by User Type
Looking at trading volume by user type, it is evident that the gap between the number of buyers and sellers remains to be relatively small.
Similarly, the share of the top 10 users by transaction volume for each type is not so large and indicates that the market is supported proportionally by both buyers and sellers.
■ Trading Volume by Trade Type
When looking at NFT trading as a whole it can be seen that the large majority of transactions occur within marketplaces, as opposed to private trades that have been growing in popularity in Japan.
In the case of Japan, many game titles have implemented a mechanism that works as a gateway to easily share items between the game itself and the Ethereum network. This has seen an increase in users negotiating and trading items using platforms such as Discord and Twitter, and is indicating that we will inevitably see a rise in private transactions in the near future.
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