Playbux Emerges as Web3's New Leader, On-Chain Data Shows

Published: May 21, 2024 at 11:37 am Updated: May 21, 2024 at 11:37 am

In Brief

Over the past year, as crypto prices rallied, so did the crypto activity. This revival has been particularly potent in the gaming sector. According to Dapp Radar’s report, blockchain gaming is actually “commanding the largest share of the industry’s activities.”

One of the winners of this ongoing resurgence in crypto is Playbux, which is not just a gaming project but an all-encompassing platform that combines trading, music, movies, casinos, e-commerce, NFTs, DeFi, and gaming to build the largest Web3 entertainment platform in the world.

Earlier this month, Playbux achieved a monumental milestone by releasing its alpha version. Players can join this version and go on quests to win rewards that include Pebbles and NFT mystery boxes. Those who join the alpha version also become eligible for an airdrop.

What makes this startup from the Visa Accelerator Program 2023 exciting is the wide variety of services available to users, such as Play-to-Earn, Walk-to-Earn, Watch-to-Earn, and more, with PBUX token, Brick, and Pebble acting as the in-game currency system.

With the backing of Binance Labs, the investment arm of the world’s largest crypto exchange, Playbux is working on gradually becoming a prominent player in the space, as evident from the bullish on-chain data.

According to Dune Analytics data, Playbux has already attracted more than half a million users, surging from about 1,000 to nearly 600K total unique users in just over a year.

Even more bullish is the platform’s total transactions, which has surpassed 18.2 million. Daily transactions have slowed down since March 2024 but are still above 10,000. Similarly, new user acquisition dropped to 10,600 in April, down from almost 70K earlier this year. However, these numbers are still strong and have been growing since the second half of 2023.

While Playbux might not be adding new users at a rapid pace, daily user and engagement metrics have been on an uptrend since December.

If we take a look at the NFT statistics of Playbux, a grand total of 292,845 NFTs have been minted so far by more than 42,000 NFT minters. The project first made its entry into the NFT world with its Early Bird Collection, which generated 1600 BNB in trading volume and became the top-trending collection on the popular NFT marketplace Opensea.

Compared to other projects in the Play-to-Earn category, Playbux stands out in both daily active users and daily transactions. In the NFT realm, Decentraland and The Sandbox, which dominated the 2021 bull market as metaverse projects, are now also falling behind Playbux in terms of NFT holders and NFT holdings.

This is just the beginning, with Playbux planning to make its multiplayer metaverse accessible to everyone in the coming quarters. By early next year, it will enable users to not just create games on their phones but even earn from the sales. With this bold roadmap and crypto starting to attract mainstream attention thanks to the bull market, there are clearly exciting things ahead for the Playbux community.

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About The Author

Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.