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GameFi is a confluence of gaming and DeFi, powered by blockchain, NFTs and tokens.
Footprint Analysis – GameFi Project Number
Since 2018, GameFi projects have gradually emerged in the blockchain market. According to Footprint analysisthe number of GameFi projects began to grow rapidly from July.
However, the quality of projects varies. Data can help determine how a project is actually performing.
How to Analyze GameFi Project Data from User Behavior
User behavior is generated by users on the product. Users have their behavior every day. In GameFi projects, transactions are especially important because they supported the system. Therefore, it is especially important for GameFi project owners to analyze user behavior in a data-driven way. Analyzing project data from the perspective of user behavior can achieve the effects of monitoring front-end customer acquisition, promoting product iteration and upgrading, and driving product decision-making behavior.
User data is the source of GameFi data
The number of users refers to the number of players in a GameFi project and is key to the healthy operation of the GameFi ecosystem.
Footprint Analysis – GameFi User Number
Data shows this the number of GameFi users has grown steadily, which is inseparable from the increase in projects and the continuous development of the GameFi market.
For early-stage projects, look at acquiring customers
In the early stage of a project, acquiring and retaining customers is the front end for the project owner to do. Currently, GameFi is thriving. Every action of the project will bring significant user growth. Therefore, the initial project is mainly to see the amount of user growth.
If the effect of the activity was bad, it may be a problem with the way to acquire customers, and more promotional methods may be explored. If it is a case of the rapid growth of new users but insufficient retention, it is necessary to consider the threshold of access, the user experience and the user emotion to find the direction to improve the project.
In the case of a small user base, the growth of user numbers will be very evident. The effectiveness of the campaign can be easily assessed.
Footprint Analysis – MetaverseMiner Users and Transactions
For mid-stage projects, check the development status
In the middle and late stages of GameFi project, the number of users will be stable, so it is time to judge whether the project is in a healthy state according to the growth curve of users. This helps to determine whether retention is stable and the growth evident.
Metaverse Miner is a Metaverse NFT GameFi on BSC. Metaverse Miner presents its game world in the metaverse in an easy-to-understand and accessible way, giving you the titles of planet “landlord” and “second-hand landlord” in the virtual world. Data shows this MetaverseMiner has been on an overall growth trend since its launch, but has recently entered a slow growth period and needs to focus on ways to become more active.
Transaction data is the lifeline of GameFi data
Users’ transaction data is divided into transaction volume and transaction amount.
How to use transaction volume
In GameFi data, the per capita transaction volume shows not only how much user participation there is, but also whether the design of the product and token economy are reasonable.
For a GameFi project, user engagement is very important. The first generation of GameFi projects faltered due to the lack of long-term player engagement. An increase or decrease in transaction volume can help verify the viability of the project behavior to make better decisions.
REVV Racing Users and Transactions
Of the data from REVV Racingwe can see that the project has a high quality of users in the early stage, with a larger transaction volume per capita, and slowly transforms to a smaller group with a smaller transaction volume per capita in the later stage as the project develops.
How to use transaction amounts
Transaction amount per capita can tell you the ranking of your users. Then you can check if it matches the kind of user the project is targeting. For example, if the average transaction amount is high, your project can develop on Ethereum. If it is low, you can also choose other chains with a lower gas fee.
Summary
Data analytics can help GameFi developers make strategic adjustments to their projects. With on-chain data, businesses in the blockchain industry can make the right decisions, accelerate operational efficiency and spawn more great projects.
This article was contributed by Footprint analysis community.
What is Footprint Analytics
Footprint Analytics is an all-in-one analytics platform to visualize blockchain data and discover insights. It cleans and integrates chain data so users of any experience level can quickly start exploring tokens, projects, and protocols. With over a thousand dashboard templates plus a drag-and-drop interface, anyone can build their own custom charts in minutes. Uncover blockchain data and invest smarter with Footprint.
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