Gods Unchained Single-Handedly Crowns ERC721s Ethereum Kings

Hello defiers! Here’s what’s going on in Decentralized finance:

• Non-fungible tokens surpassing transactions on all token types because of Gods Unchained
• LocalEthereum adds BTC and changes name to LocalCrypto

Gods Unchained Hitting it Out of the Park

Digital cards game Gods Unchained is pushing Ethereum transactions into another level –and the network has been chugging along just fine.

The Ethereum-based game is single-handedly making non-fungible tokens surpass transactions from all other token types. Gods Unchained uses ERC721 tokens to represent its cards. The standard allows each token to have unique characteristics, unlike ERC20 tokens and ETH, which act more like shares or money and are interchangeable.

Gods Unchained has been selling its trading cards since July, with some going for as much as TK. The cards are currently being activated which means they’re being turned into tradable tokens, ahead of the launch of the game’s marketplace. This has boosted Gods Unchained token transfers to over 22k just in the last 24 hours and over 8 million in the past week, as users anticipate they’ll be able to start trading their cards soon. CryptoKitties comes in at a far second among the most active non-fungible tokens, with +17k in the past week and +3k in the past 24 hours, according to Etherscan.

Image source: Gods Unchained

All this activity pushed total ERC721 transfers to a daily record of over 3.7 million on Nov. 17, four times more than the previous all-time high of 846k just two weeks ago, according to CoinMetrics. That beats ERC20 daily transfers by a lot, as they’re now hovering at around 500k.

Image source: CoinMetrics

Impact on Ethereum

Non-Fungible Tokens’ Potential

LocalEthereum Adds bitcoin

LocalEthereum is now LocalCrypto. The peer-to-peer trading platform, which started out as a fiat-to-crypto on ramp for ETH, is now adding BTC.

LocalCryptos, serves more than 100,000 users worldwide, is non-custodial and has end-to-end encrypted messages. The name change also suggests Bitcoin may be just the start.

Sign up to get the best and only daily newsletter focusing on decentralized finance news, complete with analysis, exclusive interviews, scoops, and a weekly recap. Those who become paying subscribers in the current 60-day beta period which started Oct. 1 get an early supporter discount :)

Subscribe now

About the author: I’m Camila Russo, a financial journalist writing a book on Ethereum with Harper Collins. I was previously at Bloomberg News in New York, Madrid and Buenos Aires covering markets. I’ve extensively covered crypto and finance, and now I’m diving into DeFi, the intersection of the two.