Data Interpretation: The Rise of "NFT Farmer" MOBOX

This article is from Dapprader, original author: Ian Kana

Compiled by: Moni, Odaily Planet Daily

Nowadays, play-to-earn games are beginning to combine the advantages of DeFi and NFTs, using financial mechanisms and gaming systems to empower users, and are gradually becoming more popular. Known as "NFT Farmer," MOBOX has become a rising star in this field. These games not only attract a record number of users but also provide an entry point for crypto newcomers who want to enter the Web3 space but have no idea how to start.

Since MOBOX joined the BNB Chain in early April 2021, this game has become one of the top ten games on the BNB Chain and even across the entire network, showcasing its strength as a play-to-earn NFT game.

This game is built on the DeFi ecosystem, combining NFTs with gaming, utilizing liquidity pools, farming yields, NFTs, and GameFi infrastructure to provide users with optimal yield strategies, allowing MOBOX users to earn rewards while playing for free.

Additionally, in the MOBOX game, players can also become liquidity providers (LP) by staking tokens or stablecoins to earn the token "KEY" as a reward.

"KEY" can be used to unlock NFTs, which are various characters in the game, allowing participation in different gameplay modes. Moreover, they can also be used as collateral to receive airdrop rewards. It must be said that MOBOX represents true GameFi, with NFTs playing a crucial role in this ecosystem.

MOBOX: The Best Gamified Financial Product on BNB Chain?

As a blockchain solution, BNB Chain is very suitable for MOBOX's needs, as it is EVM-compatible and has multiple consensus layers that can connect with other blockchains.

At the same time, the native BNB token reduces transaction costs on the BNB Chain and increases transaction speed. It is important to note that transaction costs and speed are two key factors for the success of any blockchain game.

Fundamentally, the MOBOX team has established a decentralized exchange (which can also be seen as an NFT marketplace) that combines GameFi, opening a gateway for those who want to benefit from GameFi. Through an entertaining and educational approach, users can not only gain interesting experiences in the game but also learn about investment, farming yields, and NFTs.

MOBOX was launched in April 2021, at a time when the blockchain industry was experiencing a year-on-year growth rate of 158%. Meanwhile, driven by blockchain games, the number of daily unique active wallets on all chains reached 1 million.

In the same period last year, the number of users on the BNB Chain increased by 61%, ranking second in activity among all blockchains at that time. It is worth noting that DeFi decentralized applications accounted for 96% of all blockchain activities on the BNB Chain. With the development of on-chain NFT markets, play-to-earn games, and GameFi dapps, the BNB Chain is gradually diversifying towards GameFi and NFTs.

It is noteworthy that at that time, the gaming projects on the BNB Chain (also known as Binance Smart Chain) were still in their infancy, but by the end of the first quarter of 2021, there had already been a growth from 0 to 1,238 active wallets.

As the BNB Chain developed, the market landscape underwent fundamental changes. While other GameFi projects emerged, MOBOX was quietly brewing for the next explosion. The NFT sales boom, the increase in token utility, and people's desire for passive income also played a significant role in this momentum.

Data Interpretation of the Rise of MOBOX

In its first month after launch, MOBOX successfully attracted over 44,000 unique active wallets, averaging about 1,500 per day, completing over 181,000 transactions with a total transaction volume of $23.1 million.

By May 2021, the number of unique active wallets on MOBOX surged to 152,000, averaging 4,900 per day, three times that of April; transaction volume soared to $116 million, nearly five times that of April. This was attributed to users starting to buy NFTs frantically and actively participating in DeFi mechanisms, beginning to reap rewards.

In June and July, the growth of the MOBOX platform began to stabilize, indicating that MOBOX had found the right way to attract and retain users.

As games on the BNB Chain allowed users to earn income, they became increasingly popular. Last summer, gaming projects on the BNB Chain experienced rapid growth: CryptoBlades, My Defi Pet, Mobox, and DungeonSwap saw significant increases in user numbers.

Among these play-to-earn games, MOBOX stood out, with the number of unique active wallets increasing by nearly 30%, and the user base steadily growing. In terms of transaction volume, MOBOX achieved nearly $10 million in NFT sales in July last year, maintaining a stable position among all blockchain games thanks to the combination of NFTs and play-to-earn mechanisms.

By August 2021, as investors, traders, and the cryptocurrency community rushed to find the next Axie Infinity, everyone wanted to become the "king of chain games," a revolution in play-to-earn games and GameFi began. By the end of the third quarter of 2021, an average of 1.54 million unique active wallets participated in decentralized applications daily, with 49% related to blockchain games.

MOBOX continued its strong momentum from the second quarter of 2021 through their efforts. As shown in the chart, the number of unique active wallets and transaction volume connected to MOBOX nearly doubled in the third quarter of 2021, largely due to the launch of Binance Launchpool in August. Binance Launchpool allows users to stake their BNB, MBOX, and BUSD into a single pool to earn MBOX tokens.

Data Witnesses Significant Growth of MOBOX

Shortly after the announcement of Binance Launchpool, the number of MOBOX users increased by 170%, exceeding 28,900. Additionally, in August, MOBOX announced a series of lottery events, with prizes including MOMO NFTs, which may have been another key factor for the surge in users. As the lottery registration deadline approached, more and more users began to flock to the platform.

MBOX is the native token on MOBOX, and as trading activity on the platform increased, more and more value was locked in smart contracts, simultaneously increasing the platform's attractiveness and positively impacting the price of MBOX.

Indeed, after a series of activities planned by MOBOX began, the price of the MBOX token started to rise sharply, from $1.98 on August 18 to $9.77 on August 28, with an increase of over 393% in just ten days.

All of this, combined with the surge in user interest in play-to-earn games, led to a significant leap for MOBOX in September 2021, which is somewhat incredible considering this occurred just five months after the game's launch. Subsequently, MOBOX did not rest on its laurels but continuously explored more gaming mechanisms to attract and retain users.

Since September 2021, the number of unique wallets connected to MOBOX has steadily increased. Moreover, following a record $65.4 million in NFT transaction volume in August, September's performance was even more impressive, with NFT transaction volume on the platform nearly doubling to over $109 million.

On just December 30 last year, the NFT transaction volume on MOBOX surged by 359%, reaching $9.26 million, successfully surpassing Axie Infinity and Bored Apes to top the transaction volume chart for that day.

This surge in transaction volume was primarily due to the launch of the new season of TokenMaster, where players could use their MoMo NFTs to earn MBOX tokens. Interestingly, beginner players could also rent MoMo on the MOBOX NFT Marketplace, significantly reducing their cost of experiencing MOBOX.

With increasing sales, MOBOX surpassed other well-known NFT platforms, including Axie Infinity, with considerable profit margins in December 2021.

After a frenzied December, MOBOX has firmly established its position on the BNB Chain. At this point, MOBOX has become one of the hottest gaming platforms.

It is worth mentioning that the blockchain gaming sector received $720 million in investments in February, indicating that investors are very optimistic about this field. Of course, the recent hype around the metaverse has further solidified the market position of such DApps.

Conclusion

Play-to-earn games continue to show strong momentum after the brilliance of 2021. Given the substantial funds raised, the gaming teams undoubtedly have plenty of resources to continue developing and improving their current products without worries. More importantly, the public has begun to feel the powerful potential of NFTs and play-to-earn games.

It is remarkable that MOBOX has achieved astonishing growth in less than a year since its launch. Who would have thought that it could now stand shoulder to shoulder with "gaming kings" like Axie Infinity and Splinterlands? The next challenge for MOBOX will be to see if it can continue to solidify its position in a fiercely competitive market and what strategies it can employ to further enhance the platform and attract more users.

Undoubtedly, user retention is crucial for MOBOX's continued expansion, but this is highly challenging. First, the gameplay needs improvement (to develop towards AAA-level top games); second, it must overcome resistance from traditional gamers (to gain their positive response).

It can be said that play-to-earn games have changed the traditional gaming paradigm, allowing players to earn rewards by spending time in games. Decentralized applications like MOBOX play an indispensable role in pushing blockchain towards mass adoption. Blockchain games delivered a satisfactory report card in 2021, and we hope they can continue to forge ahead in 2022, leading over 2.4 billion gamers worldwide towards the digital path.