Crypto Market

In our last update on ERC-721 tokens on Nov. 12, we highlighted the spike in transfers of non-fungible tokens (NFTs) transfers to all-time highs as God’s Unchained, a blockchain-based gaming platform,  surpassed the previous high set by CryptoKitties transfers back in 2017 during the mega bull run. As of Nov. 19, ERC 721 token transfers have again surpassed the ATH, this time boosting close to 330% from the high set less than a fortnight ago.

God’s Unchained sells over 6 million game cards

Following a cross above the ATH on Nov. 12, recording over 864,000 transfers, God’s Unchained has once again caused a spike in total ERC 721 token transfers. According to data collected by CoinMetrics, the total number of transfers grew to over 3.7 million, representing a 328% growth in two weeks.

erc 270
Source: Coinmetrics

The inflammatory growth in ERC 721 transfers was caused by God’s Unchained as the game traded over 6.6 million gaming cards over the course of the week. In context, the CryptoKitties sold 4.7 million gaming cards since they launched in 2017.

The game grew popular in lieu of Hearthstone’s controversial handling of a Hong Kong protests sympathizer. Coincidentally, God’s Unchained had just activated their gaming cards to tradable tokens which gave unsatisfied gamers at Hearthstone to switch to God’s Unchained.

ETH block fullness stagnant despite colossal transfer number

The upsurge in transfers did not affect Ethereum’s speed at the slightest data show. Since hitting over 90% block fullness in mid-September, the block fullness has remained below 85% signaling a healthy market.

ETH block fullness

The “abnormal” block sizes are as a result of God’s Unchained packing hundreds of card transactions in single batches. This reduces the size of transactions while each card remains unique within the batch. Once the distribution process is complete, the development team will activate the cards for trading on the secondary market.  This turns each unique gaming card to a tradable token.

God’s Unchained is still leading the line in a number of ERC 721 tokens recording a total of 4385 transfers in the past 24 hours, as at the time of writing.

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Source: Coin Gape