Stocks can exhibit certain characteristics or patterns in long-term operations, just like a person's character, so we call it "stock nature."
In other words, stock nature is an exogenous characteristic of stocks, which is given by the behavior of investors. This law applies not only to stocks, but also to public chains in the crypto world. For example, Ethereum was once called the rich chain because of its high transaction fees.
Different from the characteristics of stocks, the characteristics of public chains are composed of the physical characteristics of the public chain itself and the characteristics of users who use the public chain, and the latter have a greater influence.
If you carefully study the development of crypto projects, you will find that the characteristics of the public chain play a decisive role in the success or failure of the project. For this reason, this article will explain why high-quality projects choose BNB Chain from the perspective of public chain characteristics, and how BNB Chain attracts many high-quality projects.
From Solana No. 1 to BNB Chain No. 1 in just 3 days
Gameta is a Web3 gaming platform originally created on the Solana network. Gameta mainly provides infrastructure and distribution services for casual games, thereby attracting more gamers from Web2 to Web3.
On the Solana network, Gameta took just a few months to climb from zero to the top of the game rankings. According to DappRadar data, the Gameta Solana network has approximately 31,000 daily active users.
Gameta later migrated to BNB Chain after completing the Solana network ascent.
Three days after the migration, Gameta soared to the top of the BNB Chain game list. Data showed that within 48 hours after the migration, Gameta added 35,000 new users; in 7 days, Gameta's users increased by 486.73% and transactions increased by 203%.
Data from DappRadar shows that Gameta's MAU monthly active users reached 1.63 million.
Gameta is just one of many projects that have migrated from other public chains to BNB Chain. From the most basic data, it is not difficult to understand why many high-quality projects have migrated to BNB Chain.
Compared with other public chains, BNB Chain has a higher ceiling. The number of new users acquired by Gameta on BNB Chain in 3 days has exceeded that of several months of hard work on Solana. Moreover, high-quality projects that can achieve excellent results on other public chains have no barriers to entering BNB Chain.
Public chain characteristics determine the project ceiling
The high ceiling of BNB Chain is a result rather than a cause. Why the ceiling of BNB Chain is higher than other public chains requires us to conduct a more detailed analysis.
As mentioned above, a large part of the characteristics of the public chain comes from the characteristics of the users who use the public chain. For a project, choosing a public chain is more like choosing the users on the public chain.
Judging from Gameta’s feedback, the users on BNB Chain are a group of experienced users, or in other words, they are a group of users who are not new to blockchain.
Among this group, more than 39% of users have extensive experience in blockchain games. At the same time, they like new content and can get started quickly.
The user characteristics of BNB Chain mean that the ceiling for innovative high-quality projects will be higher than other public chains. Of course, in addition to user characteristics, the efforts of BNB Chain itself are also needed.
BNB Chain is compatible with most mainstream technologies, making project adaptation and construction more convenient and faster, and no longer requiring time and effort to educate users. For users, the learning cost is low and getting started is quick.
After migrating to BNB Chain, Gameta stated that most of Gameta’s users are mainstream mobile game players, and BNB Chain allows the team to efficiently link on-chain activities with users’ gaming habits without causing too much interference.
From the success of Gameta, we can see that the public chain characteristics are so important to the project, but how did the public chain characteristics come about? To this end, we will continue to explore the mystery of the birth of BNB Chain characteristics.
Comprehensive support
In fact, every successful public chain has the support of a founding team, just like ConsenSys sold a large amount of ETH in the early days for the construction of the Ethereum ecosystem. The same is true for BNB Chain. However, compared with other public chains, BNB Chain can provide more help and cover more details.
Judging from the public information and interviews of many projects built on BNB Chain, the BNB Chain official team provides comprehensive support for the project, including technology, ecosystem, marketing and public relations advice, token economic design, AMA support, etc.
Gameta stated that BNB Chain has provided abundant resources to help the project and coordinated Gameta’s relationships within the BNB Chain ecosystem, expanding Gameta’s services and user vision.
At the same time, BNB Chain gave Gameta a gas fee discount of up to 100% in the first three months to help the long-term development of the project.
As one of the most active public chains at present, the advantage of the BNB Chain official team lies more in its familiarity with the entire process of project operation and its control over details.
Through cooperation with a large number of projects, the BNB Chain team has long been familiar with issues such as how to capture users by maximizing the value of token economy and how to conduct targeted marketing. This is one of the reasons why many high-quality projects like to build on BNB Chain.
For earlier projects, BNB Chain also has the support of the Most Valuable Builder (MVB) incubation program. Since February 2021, BNB Chain has teamed up with Binance Labs to host the MVB incubation program, which has been successfully held for 5 seasons so far.
Well-known projects such as PancakeSwap, WOO Network, and Project Galaxy have emerged from the MVB program.
For projects participating in the MVB program, BNB Chain and Binance Labs will provide project teams with 6-8 weeks of customized training on the BNB ecosystem. High-quality projects will also have the opportunity to receive investment from Binance Labs.
The success of BNB Chain does not rely solely on the support of Binance, but is the result of multiple efforts. The BNB Chain team fully supports the development of high-quality projects, and high-quality projects attract a large number of users to participate.
A large number of users have opened up the imagination space for high-quality projects, thereby attracting high-quality projects from other public chains to migrate to BNB Chain. Finally, the gathering of high-quality projects and users has built the characteristics of BNB Chain.
The development of BNB Chain provides a template for the development of public chains. Public chains need their own characteristics, but these characteristics are the result of the joint efforts of users, teams, and projects, and none of them can be missing.
Further reading:
PFP Ragnarok, is the singularity of Gameta's new narrative "The Bored Ape of Civilians" coming?
What is Gameta and how to play Web3 games on Gameta?
Gameta, a Web3 NFT gaming platform invested by Binance Labs, is about to go live. Learn more about it in one article
#Gameta #BNBChain⚡️ #BinanceLabs #GameFi
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