Avalanche Activity Hits All-Time High as MapleStory Marketplace Takes Off

Activity on Layer 1 blockchain Avalanche is at an all-time high after the launch of the award-winning game MapleStory and its marketplace on the network.

Daily transactions have exceeded 11 million* every day since the MapleStory character mint launched on May 15, reaching a high of 12.9 million on May 27. Prior to May 11, the network averaged roughly 4 million daily transactions.

Since its launch, the MapleStory marketplace has processed more than $4 million in total trading volume across 590,000 active wallets and 3.5 million transactions, with some rare items, such as the Fafnir Guardian Hammer, trading as high as $6,500.

MapleStory is a massive multiplayer online role-playing game (MMORPG), and MapleStory Universe, the official blockchain-backed iteration of MapleStory, went live on May 15 alongside the launch of its NXPC token.

The original game was launched in 2003 and has had more than 250 million players registered in its database, with lifetime revenue exceeding $5 billion, according to Messari*. The NXPC, or Nexpace token, also boasts a $1.6 billion fully diluted valuation (FDV), which would make it one of the largest gaming tokens by FDV if the valuation holds when the token begins circulating.

While MapleStory is the most notable recent activation on Avalanche, it is unclear whether it's the sole driver of the massive spike in Avalanche-related activity, as the surge began on May 11.

Bergen County in New Jersey has signed a five-year deal to tokenize more than $200 billion worth of New Jersey property on Avalanche, with an estimated 370,000 property records set to be tokenized.

Avalanche also recently announced a partnership with FIFA, the Fédération Internationale de Football Association, to create its own Avalanche L1, previously referred to as subnets.

Despite the increase in usage, the AVAX token has not fared as well, and is down 10% over the last week, but up 3% over the last month. AVAX currently changes hands at $22.64, with a $9.5 billion market capitalization.

*Messari Portals are a free-to-use community resource that combines quantitative data with qualitative context, giving crypto communities transparent, convenient access to information that helps them make better decisions. Visit https://messari.io/portals to learn more.