Blockchain Game Market Visual Report: NFT Transactions (July Edition)
In order to easily view the latest blockchain game market data (secondary NFT trading) in one place, we’re continuing to regularly update our visual data report.
The data referenced is in accordance to the following conditions (referenced via miime, Etherscan and BigQuery):
- NFT transactions from OpenSea and in-game marketplaces
- Utilising ETH or WETH (excluding original tokens such as MANA)
- Transactions between the period of 06/01/18 to 06/30/20Contents
- Total Period (06/01/18–06/30/20)
- Market Trend - Previous 3 Months (04/01/20–06/30/20)
- Market Trend
- Transaction Share by Title
- Top 3 Title Transaction Volume / User Trend
- Top 2 Items by Total Transaction Volume (May)
- Market Share by Category
- Trading Volume by User Type
- Trading Volume by Trade Type
Total Period (06/01/18–06/30/20)
■ Market Trend（Monthly）
- Trade Volume: Compared to the previous month, both ETH-denominated and JPY-denominated trade volumes in June were significantly lower. In particular, JPY-denominated trading volume, which had been flat for the past few months due to the rise in the ETH price, finally fell by 11% this month, making it a difficult month overall.
- Transactions: The number of transactions also took a fall at 50% less in June in comparison to May, further exceeding the decline of that month.
- MAU: As with the above two categories the number of active users also declined compared to the previous month, again indicating it was a difficult month for secondary market trading.
Previous 3 Months (04/01/20–06/30/20)
■ Market Trend（Weekly）
- Trade Volume: Looking at the weekly volume, it can be seen that except for a spike in May the overall trend has been a gradual decline.
- Transactions: The decline in the number of transactions has accelerated further since the time of last month’s report, seeing a steep downward trend. It is clear that the number of trades is decreasing week by week, and we will be continuing to see how far this downward trend will continue from next month onwards.
- WAU: The number of users, which had been stable up until now, showed a downward trend from May to June. Whether this is due to a particular title or the market as a whole, we’d like to closer examine the possible factors behind the lack of activity by taking a look at individual titles and genres
■ Transaction Share by Title
Continuing on from last month’s report, the number one position in terms of market share was claimed by SOMNIUM SPACE (PARCEL), with Cryptovoxels in second place, and no significant change in the rankings after that. However, what’s most noteworthy about June’s rankings is the percentage of transactions for the other top-ranked titles: despite maintaining the same rank, the transactions of MCH, BFH, and Gods Unchained appeared to halve.
These three titles have consistently been top performers in terms of volume, but the decline in this volume over the last few months has been significant, decreasing with each installment of this report. It could be said that this decline in trading volume for these mainstay titles has had a significant impact on the overall market decline mentioned previously.
At the same time, newer market drivers such as SOMNIUM SPACE (PARCEL) and Cryptovoxels have been emerging, and a market that used to depend on a very limited number of titles can be considered to be changing into a more mature market made up of a larger variety of titles.
■ Top 3 Title Transaction Volume / User Trend
This report’s featured title is SuperRare, which ranked 10th in terms of transaction volume share. SuperRare is a digital art project, a title in a completely different category than the other top ranked titles. An interesting point about this project is that it is not about digitizing famous artwork, but rather allowing any user to create digital art that can then be sold as an NFT.
The project itself has existed for over a year, and until now only a few users were creating and selling their art. Recently, however, the boom of digital spaces such as Decentraland have given digitized artwork from SuperRare’s platform a chance to become more widely known, thanks to collaboration events. With this in mind, it’s likely that trading on the SuperRare platform has been revitalized recently.
Other art-related titles, such as MakersPlace, are similarly moving up through the rankings, and along with the rise in popularity of land-based titles such as SOMNIUM SPACE (PARCEL) and Cryptovoxels, the demand for digital art platforms also seems to be on the rise.
■ Top 2 Items by Transaction Value
The most expensive NFT traded in June was a plot of Cryptovoxels land, which sold for 50 ETH, with the next most expensive transaction being a CryptoSpells card at 26 ETH. There have been a number of high value CryptoSpell card trades in the past, however in late May and throughout June a TV commercial campaign was run in Japan. It could be said that this advertising brought a significant growth in the number of new users, and with it a similar growth of big spenders.
■ Market Share by Category
After some stagnation in position the previously top-ranked category of trading card game (TCG) took third place, with Craft coming in to take the number one spot. A major factor for this movement was the sharp drop in trading volume for Gods Unchained. In addition, titles such as SOMNIUM SPACE (PARCEL) and Cryptovoxels have steadily been increasing their volume, resulting in a significant shift in the rankings over the last three months.
Another category to watch is Art, which has risen to number four. As mentioned earlier in this report, the increase in digital art transactions on platforms such as SuperRare and MakersPlace are thought to be a major factor in this movement. Looking at each individual category, we can see that both the Craft and Art categories are growing at a similar pace.
■ Trading Volume by User Type
June saw a change in the type of sellers, with the ratio of sellers to buyers being reversed. This can be interpreted as a sign that the selling pressure from users who were willing to sell up to the time of last month’s report has temporarily subsided. We will continue to examine the impact of this reversal on the volume of transactions by comparing it to the market trend from next month onwards.
■ Trading Volume by Trade Type
Private transactions, which had grown to 22% market share at the time of last month’s report, have further increased by almost 3%, showing that the momentum for private trading is slowly building.
However, a comparison of May and June shows a slight decrease in the percentage of private sales. This could probably be attributed to the recent slowdown in transaction volume for titles adopting a private transaction gateway, a similar feature still lacking from many new title releases.
Contact Us
[ miime ] Digital Item Market Place
- Website：https://miime.io/
- Twitter (EN) : @miime_global
- Twitter (JP) : @miime_jp
- E-mail：contact@miime.io
[ Metaps Alpha ] Company Site
- Website: https://metaps-alpha.com/
- Twitter : @metapsalpha
