It is beautiful to see the Hive blockchain rank high in 4 categories in Coinmarketcap's GameFi Analysis for H1 2022. This is a huge plus to this real web3 and truly decentralized blockchain that is about to explode in enrolment, asset value and utility in the next couple of months. The metamorphosis from a social media blockchain to a convergence of several web3 possibilities keeps Hive blockchain head tall in the league of other blockchains. Today, we can have a feel of write-to-earn, create-to-earn, play-to-earn, vote-to-earn, stake-to-earn, move-to-earn, learn-to-earn, hodl-to-earn and more on the Hive blockchain.
CoinMarketCap (CMC) is inarguably a leading name in cryptocurrency PR and is the world's most-referenced price-tracking website for cryptoassets in the rapidly growing cryptocurrency space. Digesting its Footprint Analytics on the performance of the nascent GameFi industry from January to July 2022 could be very helpful in examining which chains, tokens and games to watch in H2 2022.
GameFi - the combining the two verticals: Gaming and Finance, has come to stay. Playing games, having fun and earning financial incentives for doing so has become one of the most significant creations within the cryptocurrency space and has helped millions of persons make a living as well as recover from he covid-19 effect on economies. It feels good that despite the long bear season during the first half of 2022, some gaming platforms and blockchains were still making significant growth in several area asides from asset prices.
While some of the GameFi projects built on hype unsustainable play-to-earn model collapsed the hardest during this downturn, the Hive blockchain made some significant impressions in its advancement strides along the GameFi with Splinterlands at the fore. Below are the areas that Hive stood tall in ranking among other GameFi blockchains. The footprint detailed charts with downloadable files are available here.
1&2. Gaming Transactions and Average Users
Hive ranked second with 9.9% after WAX in terms of transactions (Txn) and 24.2% in terms of average users in H1 2022. This is the Splinterlands effect which records about 320k active users.
Hive's Splinterlands ranked top with 20% over Alien Worlds and Upland. The first crypto game to become a household name, Axie Infinity, was in no way near the top 10 games by the number of average active users currently. Splinterlands steady active usage speaks volumes of Hive's stability even in a bear ride to keep users still active despite declining value in gaming rewards. It is indeed important to note the Splinterlands kept on adding value to its ecosystem.
The dominance of Splinterlands in terms of active users also show that users kept on enjoying the game. Coinmarketcap's assessment of Splinterlands on this metric is simply amazing.
While Splinterlands led Alien Worlds with almost double the number of active users in the first half of 2022, it experienced a sharp decline in users in June. This is possibly due to the end of the season on June 1, a revision of its ranked reward system, the drawdown of the crypto market, or a combination of all factors. While they’re not the only fun games, they avoided the runaway asset inflation that put other titles in boom-and-bust cycles.
Active Users Trend (Alien Worlds vs Splinterlands)
3, Top 5 Gamers by Chain
Adding the total number of games from each blockchain together, Hive ranked second after WAX with over 360k users among to 5 game players by blockchain.
Hive experienced a significant decline in early June from 360K to 140K, due to the steep fall in active users on Splinterlands — the dominant game on the Hive blockchain.
It is hopeful that this rep[ort by the end of the year would have Hive back up there on the chart with Splinterlands and likely Genesis League Soccer which would be a new addition in the play-to-earn category on Hive with an expected same effect with Splinterlands.
4. Active Projects by Chain
Coinmarketcap's Footprint Analytics’ data also tracked that Hive blockchain ranked 6th in terms of active projects by chain. This metric is defined as having a minimum of 100 users active within the latest 5 days.
The Hive blockchain has never been replete of activities in bulls and bear. This is because the value of Hive is in utility and true decentralization and not necessarily price.
Final Thoughts
It is amazing how gaming is now pitching Hive among top blockchains and this maybe the path through which mass adoption would come to Hive. This underscores the need for more niche-specific communities emerging an BUIDLing on a scalable blockchain like Hive. This report may too big a win to celebrate, however, it shows Hive is significantly growing.
All screenshots and images are from the Footprint Analytics except stated otherwise.
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What is Hive?
Hive is an innovative and forward-looking decentralized blockchain and ecosystem, designed to scale with widespread adoption of the currency and platforms in mind. By combining the lightning-fast processing times and fee-less transactions, Hive is positioned to become one of the leading Web3 blockchains used by people around the world. source
Splinterlands game is termed the "next generation of collectible card games" in which allows players to collect, trade, and battle with provably scarce digital collectibles with real-world value. Battles on Splinterlands Unlike most trading card games, are fast and furious, and are usually completed within few minutes. The Splinterlands gameplay is simple and easy to learn viz: reviewing combat rules, making and submitting of the team and watching the battle unfold.
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When I read this , I was quite elated about the recognition given to Hive, it shows all the the hard work put in, is being noticed and thanks so much to Splinterlands impact on it all.
Really a huge work from the Splinterlands end. Soon, Hive would become a home of #GameFi.
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This is a great position to be in especially with a lot of new games coming down the track next year.
Things are looking good.
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Indeed. The pace of growth and exposures coming Splinterlands, Leofinance is massive. If we had 10 communities creating such effect, then hive would go places.
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Awesome analysis. I'm including you in today's Cryptocracy. https://cryptocracy.substack.com/
Oh great.
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