Play-to-earn dapp attracts 175,000 active wallets in the past 7 days
Sunflower Farmers, a play-to-earn gaming dapp on the Polygon Network has witnessed incredible user and transaction growth in the last seven days as attention stays firmly placed on the play-to-earn category. The play-to-earn dapp attracted 175,000 unique active wallets over the past 7 days, placing it among the most popular game titles.
2022 is set to continue in the same fashion as 2021 in regards to the hype surrounding NFT infused decentralized finance games. The project launched at the end of September 2021 but didn’t catch any traction until the end of December. Mainly due to the fact that the project did not engage in an ICO or pre-sale of NFTs to early adopters. In this way, the platform hopes to make the game truly play-to-earn, as opposed to the pay-to-earn situation which arises as a result of selling NFTs to early adopters that then go on to list them at inflated prices. This practice fundamentally prices out new players.
The arrival of stone mining and wood chopping at the end of December caused a notable spike in activity on the 30-day chart below. In the last 7 days, the platform has attracted over 174,750 active wallets that completed 2.7 million transactions which drove more than $1.1 million in volume through the dapp’s smart contracts.
What is Sunflower Farmers?
Sunflower Farmers is an open-source play-to-earn game where users are invited to plant, craft, mine, chop, fish, fight, and more as they build out their farming empires. Most farmers begin by planting and harvesting to earn Sunflower Tokens. However, as players progress they can move onto more lucrative ventures and start gathering wood, stone, iron, and other valuable materials.
Each resource requires a specific tool in order to be gathered. These tools are crafted using a range of other resources in the game and designed as ERC20 contracts. This means if you chop wood you can freely trade it between farms or on open exchanges. Players have complete ownership of what they collect in the game.
Rewards for Holders
Players can earn distributed rewards every 3 days just by holding the token and supporting the game. The aim is to reward farmers who are early to the game and drive scarcity. When rewards are earned in the game, players receive the underlying ERC20 token. As more people farm and the overall supply increases, the rewards also lessen. This means someone playing in the early days will receive a significantly higher amount of rewards for harvesting a sunflower compared to someone in the future. You can think of this similar to Bitcoin Halving and how Bitcoin has become harder to mine after each halving event.
The earlier users start farming, the more they will be rewarded as the supply increases. The below table examines the rewards for harvesting sunflowers. When the supply is less than 100, 000 farmers receive $0.01 when they harvest a sunflower. On the other hand, when supply is between 100,000 and 500,000 farmers will only receive $0.002 when they harvest a sunflower.
Gaming Keeps Growing
Blockchain gaming, and more specifically play-to-earn games that gave players a chance to earn from their time spent playing, experienced unparalleled growth in the latter half of 2021. A trend that looks set to continue when viewed through the lens of the top 10 dapps on DappRadar in the last 7 days by active users. Seven of the top ten are play-to-earn games, while Atomic Assets is the Wax blockchain’s leading NFT marketplace. Almost all gaming projects on the Wax blockchain sell NFTs through Atomic. It’s going to be a very interesting year.
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 ETH, BTC, AGIX, HEX, LINK, GRT, CRO, OMI, IMMUTABLE X, ENS, GALA, AVASTR, GMEE, CUBE, RADAR, FLOW, FTM, BNB, SPS, WRLD, and ADA.