Blockchain Game Market Visual Report: NFT Transactions (June 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 05/31/20Contents
- Total Period (06/01/18–05/31/20)
- Market Trend - Previous 3 Months (3/31/20–05/31/20)
- 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 (06/01/18–05/31/20)
■ Market Trend（Monthly）
- Trade Volume: In May, both ETH-denominated and JPY-denominated trades turned negative despite a strong performance in April. Due to the rise in ETH prices, while JPY-denominated transactions were only slightly negative ETH-denominated transactions saw a drop of 19%, a significant decline compared to the last month.
- Transactions: The number of transactions was also significantly lower than last month, and the downward trend that has continued since January continued to gain further momentum.
- MAU: As with the volume and number of transactions the number of users decreased compared to last month, indicating that it was a difficult month overall.
Previous 3 Months (03/31/20–05/31/20)
■ Market Trend（Weekly）
- Trade Volume: Looking at the weekly trading volume it is clear that the market as a whole is showing signs of settling down, with the last three months remaining mostly unchanged albeit with a few fluctuations.
- Transactions: Compared to the volume, which has remained relatively flat, the number of transactions has been decreasing week by week, indicating that a decline in the number of transactions has become a trend.
- WAU: While not as high as the number of transactions, the number of active users can be seen decreasing week by week, and although slow, there appears to be a growing trend in the decline of market participation.
■ Transaction Share by Title
Cryptovoxels, which had made great strides and was #1 in terms of trading share at the time of last month’s report, this month saw a drop to #2 and was overtaken by SOMNIUM SPACE (PARCEL), which has also been featured several times in the last few reports.
Along with Cryptovoxels, SOMNIUM SPACE (PARCEL) has seen its trading volume increase slowly over the past few months and have found themselves as the most popular crafting (virtual space) titles currently. Other non-game titles, such as Avastar and Azimuth, are also ranking consistently, indicating a diversification of use cases for NFTs in terms of trading demand.
■ Top 3 Title Transaction Volume / User Trend
Somnium Space (PARCEL), which came in #1 overall, saw a number of fluctuations in trading volume and although the trading volume has risen and fallen sharply, the three-month trend shows a steady rise and it can be seen that the trading volume is continuing to grow steadily. With this trend in mind, we can expect this volume to continue to grow into the near future.
This month’s report saw a relative newcomer in the form of Zed Run (ZedToken), which has captured the #8 spot in the number of trading share for the year so far. The game, where the player breeds racehorses, hadn’t generated any significant transactions since its pre-sale about a year ago, but we’ve seen a gradual increase in transaction volume. One possible reason for this is the game’s release date, which was announced by the management at the beginning of the year in its future roadmap.
The title’s official 2020 release date is growing closer, which could be the reason why trading has become quite active, but only time will tell if this trend continues or changes after it is released.
■ Top 2 Items by Transaction Value
The highest value NFT item in May was from ChainGuardians, a partner of MCH+, which generated 50 ETH of transactions. Looking at the game as a whole, this isn’t quite a significant trading volume, but looking at the individual items we’ll be keeping an eye on the overall trading volume given that such a high amount of transactions are occurring.
■ Market Share by Category
As in last month’s report, trading card games (TCGs), battles, and crafting were among the top trading categories, with no significant changes in terms of market share.
However, when looking at the categories, the share of the Craft market has changed significantly, with a reversal of the share of Cryptovoxels and SOMNIUM SPACE (PARCEL), which we’ve discussed several times before.
Other categories have not changed much, and the market, which has fluctuated wildly from one report to the next, has begun to settle down.
■ Trading Volume by User Type
There has been no significant change in the percentage of user types since last month’s report, and there is not much difference between the seller and buyer sides.
However, by user type, the largest change is in the share of the top 10 sales users, which has increased by 2% compared to the last report. We’ve seen a gradual strengthening of sales by large users, as the percentage of Top 10 share on the sales side indicates, which hadn’t changed much in the past. As to how much the overall market trend correlates with the movement of Top 10 users, we will continue to monitor from month to month.
■ Trading Volume by Trade Type
After increasing its market share to 20% last month, private trading has grown by another 2% this time around, and we can see the momentum slowly building.
Currently, there are no new Japanese titles that are growing in private sales, with the main reason being the continual increase in trading volume of the current leading titles such as My Crypto Heroes (MCH), Brave Frontier Heroes (BFH), and Cryptospells. With no new titles of a similar nature appearing in the near future, we will further watch if the trend of increased private sale activity for these particular titles will continue.
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[ Metaps Alpha ] Company Site
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- Twitter : @metapsalpha
