Binance Smart Chain GameFi Take Over The Charts

With incredible numbers pumping out of GameFi, we take a closer look at the leaps Binance Smart Chain have made through GameFi.

By
Dardania Havolli
on
August 21, 2021
Category:
BSC News

GameFi Users Ramp Up

This summer has seen a huge increase in volume and transactions for Binance Smart Chain as a result of GameFi, and there seems to be no sign of this slowing down. 

According to dapp.com's Top Blockchain Games data, a startling 6 out of the current top 7 GameFi projects with the biggest increase in users over one month belong to BSC. This represents an impressive domination in the space. 

“#DeFi and #GameFi are growing” wrote Binance CEO Changpeng Zhao (CZ) on Twitter in late July, acknowledging the kind of impact the growth is having.  

With each of the projects marking over a 100% increase in users over the last 30 days, transactions and volume look ready to increase with latency. Binance Smart Chain’s only issue will be accommodating the huge amount of incoming interest. 

Source
In a response to a question regarding whether BSC is actually ready to handle this increase in transactions per day, CZ replied: “Not an expert. But I think we will find out soon enough.”

As the charts continue to indicate, we are finding out that BSC are more than capable of accommodating the increase. 

BSC Priorities in Check

Gaming and Binance Smart Chain have combined brilliantly to offer users an ideal product. GameFi, which brings together gaming and DeFi, offers users the opportunity to earn profits by playing through establishing financial mechanisms within gaming. This is also often referred to as ‘play-to-earn.’

Although BSC is obviously interested in utilising Binance native token BNB, there seems to have been a shift in focus whereby user experience has become more important. 

Ecosystem Coordinator at BSC, Samsul Karim, explained in an interview with CoinDesk that there needs to be an understanding by developers that users should have the choice of different assets, whether that is BNB or something else. 

Karim explained that beyond the financial reward of GameFi for BSC is the ‘cultural value.’

“Similar to how you would value an artwork, for example, like that piece of artwork, what is the economic output that it’s contributing towards society or any particular economy?” Karim said. “It can’t be compared in the same way as a DeFi lending protocol or a bank or something like that. it is producing cultural value.
Binance Smart Chain v1.1.1 Release
Source

There appears to be no coincidence in the idea that as BSC begins to focus more on providing users exactly what they are after, more users are flocking toward BSC projects. 

The progress has been brilliant to watch, whether these numbers will be maintained is another matter and we’ll be sure to follow up.

​​Don’t forget to download the BSC.News mobile application on iOS and Android to keep up with all the latest news for Binance Smart Chain and crypto!


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Dardania Havolli

Dardania is an experienced researcher, editor and writer who is currently completing his PhD in Creative Writing. He is passionate about blockchain technology and the impact it will go on to have on our lives.

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