Why was there 3.7 million Ethereum ERC-721 transfers in a single day?

Published on by Cryptoslate | Published on

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The Ethereum blockchain recently experienced a spike in the number of ERC-721 transfers made on a single day.

The surged appears to be related to a particular decentralized application on its network that is taking off.6 million tokenized items.

On Nov. 17, Ethereum saw the number of ERC-721 transfers on its network reach an all-time high of over 3.7 million transfers on that day alone.

The spike in the number of ERC-721 transfers on the Ethereum protocol appears to be related to a decentralized gaming application running on the network.

Gods Unchained is a trading card game that is built on top of the Ethereum blockchain.

Gods Unchained is in the process of making each one of its 6 million virtual cards tradable tokens.

The number of ERC-721 transfers seen on the Ethereum network is correlated with this "Activation" process, which began early this month.

Despite the bold move to tokenizing 6 million assets, the Ethereum protocol has not been affected.

Coin Metrics stated that Gods Unchained has been batching hundreds of transfers in single transactions, which is able to keep the network unclogged.

Even with the limitations on the Ethereum blockchain that have impeded it from realizing its potential as a widely adopted "World computer," Gods Unchained was able to tokenize 6 million digital assets without a problem.

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