GameFi Hype Drives Renewed Interest in X World Games

654% jump in active wallets in 7 Days

X World Games, a decentralized blockchain game ecosystem running on Binance Smart Chain is enjoying revitalized success this week as its active users jumped over 670%. Binance Smart Chain is seriously pushing the GameFi category right now and as titles like CryptoBlades enjoy record results the entire ecosystem appears to be getting a lift. 

In the last 7 days, the number of active wallets interacting with the X World Games smart contracts has swelled over 670% to 28,730. This increase in usage brought about an almost 400% increase in transactions. 

A big driver of the activity has been users coming back to the platform to collect airdrop rewards which went live on the 7th of August. Any player that registered an account prior to the July 31st snapshot being eligible to receive XWG tokens. Importantly, claiming those tokens requires a transaction. Further transactions can indicate users moving the tokens. 

Looking at the token overview page on the BSC scanner reveals that as of the 10th of August 23,279 wallets held XWG with 120,904 transfers taking place in total. Interestingly, these tokens have no value at the time of writing and are being distributed and collected speculatively.

What is X World Games? 

The stated mission of X World Games is to build a diversified gaming ecosystem that connects traditional game players and the blockchain world. The idea is to help game developers from the traditional space who want to enter the crypto gaming sector by creating the underlying blockchain framework. Overall, the platform has big ideas for the ecosystem that Include a gaming hub, NFT exchange, cross-game protocol port, and a full-function game-creation toolbox. Additionally, the platform states it will soon be a truly decentralized DAO. Stating that games holding XWG tokens will get to decide the platform’s governance policy or the next in-game development, including reward mechanisms and tokenomic systems.

NFTs on BSC 

NFT projects on alternative blockchains outside Ethereum are gaining significant traction. Binance has launched its own NFT marketplace. Additionally, they have been attracting both NFT and gaming projects, to complement their DeFi offering. Non-Fungible Apes is just one example of that trend, while the massive success of CryptoBlades also taps into Binance Smart Chain.

According to the July DappRadar Dapp Industry Report, BSC was the most used blockchain with more than 658,000 unique users in July; WAX comes second with 336,000 and Ethereum is now third with 105,000. Binance is not the only blockchain eyeing the huge potential of the blockchain-based gaming industry. Polygon and Wax are clearly laying out their stalls while other crypto companies and blockchains are also taking big steps in this direction. For some time now the cryptocurrency space has been looking for a mass-market use case. Arguably Game-Fi is a sector that people have been talking about for a while. As it represents the first sector of crypto where average users, without the need for a complete understanding of blockchain and cryptocurrencies can participate.

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The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in ETH, BTC, ADA, NIOX, AGIX, MANA, SAFEMOON, SDAO, CAKE, HEX, LINK, GRT, CRO, SHIBA INU, AND OCEAN.