Abstract loves culture, virality and the buzz of what’s happening in community. This strategic emphasis is what truly distinguishes it from more technical Layer 2 solutions, such as Arbitrum or zkSync. The platform has proven its market relevance by generating a stimulating level of network activity and attracting a fast-growing array of projects.
Abstract is trending upward — can you feel it! Daily active wallet addresses constantly break through 100k and over 100k contracts are being created a day. This new wave of activity is primarily fueled by the “meme-launch-airdrop” playbook, one that’s been deceptively successful at cooking up community virality. More than 70% of contract interactions on Abstract are for staking and reward claiming. Moreover, users take a hands-on approach to optimizing mining rigs throughout the Big Coin universe.
GameFi has quickly become one of the central pillars to Abstract. Pioneering initiatives such as Big Coin, Roach Racing Club, and Onchain Heroes are carrying the torch. These casino-style games drive much of the platform’s transaction value and user engagement. NFTs that support gameplay, such as those from Roach Racing Club and Onchain Heroes, experience moderate trading activity on the network.
Big Coin is already a force to be reckoned with on Abstract. It has driven the platform’s TPS over 20 TPS. This serves as a testament to Abstract’s muscle to turn small concepts into big network action. Today, there are more than 100 live projects developing on Abstract, with a particularly high concentration of game-related products.
Even with the constant improvement and integration of an awesome array of Abstract NFT tools, Abstract’s NFT value has still fared poorly. As further utility, the platform accelerates NFT trading and utility across its ecosystem. Even with all this new activity, the combined market value of these digital assets has not gone up. First, it’s necessary to note that Abstract isn’t really in competition with Layer 2 scaling solutions. On a technical level, this includes platforms such as Arbitrum, Base, and zkSync.
