Upwards momentum as project launches $150,000 tournament
The yield farming game Cometh has increased its active user base by 95% in the past 30 days, according to data from DappRadar. Now more than 2,260 users have played the game in an effort to earn MUST tokens.
Despite the significant increase of the Cometh user base, the number of transactions is down 61% to 186,390 in the past 30 days. That means that the average user does 82 transactions per month.
This seems like a steep number, but transactions happen on the Polygon blockchain. Therefore these are relatively cheap. Every move in the game requires a transaction, ranging from moving a spaceship to mining an asteroid. Mining earns players MUST tokens or other rewards, while every movement also requires MUST.
The increase in active users comes right at the time Cometh organizes a major $150,000 tournament spread out over the month. On Saturday players can compete for $50,000 in prizes. To compete, all players need to do is acquire an NFT spaceship. Cometh is giving some of these away at an online event.
Read more about Cometh on their official website.
Cometh part of play-to-earn hype
Play-to-earn gaming is arguably one of the latest stories reaching mainstream appeal. A play-to-earn game uses blockchain technology to give players ownership over in-game assets or currencies. The spaceship players use in Cometh is an NFT that they own. Some perform better than others and are therefore more valuable. In addition, the rewards players earn, the MUST tokens, have actual value.
A play-to-earn game technically allows gamers to earn an income from their participation in a game’s universe or economy. This is a major break from the traditional business model, where gamers pump money in games to get cosmetics over which they have no ownership.
The play-to-earn revolution is already actively taking place in developing countries like the Philippines, Indonesia, and Venezuela. In these countries playing a game can provide serious income. It’s one of the reasons why Axie Infinity is becoming so popular. Gamers in the Philippines now make 3 times more money playing Axie Infinity as opposed to working a regular office job or running a store. This hype for Axie jobs increased in recent days, as the SLP and AXS tokens pumped in value.