Cellula generated $179m in revenue; is it the next big web3 gaming platform?

Cellula, a blockchain gaming platform backed by OKX Ventures and Binance Labs, is securing its renown within the decentralized finance scene, just lately outperforming each different protocol in 24-hour income.

Information from Defi Llama exhibits Cellula has generated an astonishing $179 million in 24-hour income on Nov. 21, putting it forward of different prime protocols like Tether, Solana, and Raydium. 

In keeping with knowledge from Defi Llama, about $8.95 million of this determine instantly advantages holders. Nevertheless, Jito, a liquid staking protocol working on Solana, follows distantly with $15.55 million in charges and $621,829 in income. 

In the meantime, stablecoin chief Tether recorded $13.37 million in charges, equaling its income output. Raydium, a Solana-based DEX, generated $12.47 million in 24-hour charges and $811,337 in income, whereas Solana itself produced charges value $11.84 million inside the similar timeframe.

What’s Cellula?

Launched final 12 months, Cellula is a blockchain-based gaming and asset distribution platform constructed on compatibility with Ethereum Digital Machine. The mission raised $2 million in a pre-funding spherical in April this 12 months, culminating in its mainnet launch.

It employs a singular digital Proof-of-Work consensus mechanism, integrating sport principle and Conway’s Sport of Life ideas, in response to its web site. 

Curiously, this design permits for the creation and administration of BitLife, digital on-chain digital entities which might be central to its ecosystem. With customers having the chance to “mine” and work together with BitLife, this strategy helps to mix DeFi and gamified engagement.

How does vPoW work?

Cellula has proven a dedication to innovation. A serious achievement was the introduction of its programmable incentive layer three months again, which bolstered asset issuance inside the EVM. 

The initiative integrated its distinctive vPoW mannequin, including ideas from Conway’s Sport of Life and Sport Concept. 

Cellula’s vPoW permits customers to take part by creating and managing BitLife entities of conventional mining as a substitute of counting on energy-intensive {hardware}, in response to its blog post.

These entities generate rewards and energy the ecosystem. The vPoW system prioritizes accessibility, because it permits customers to take part with out costly gear. This makes the mechanism cheaper to function.

Nevertheless, its effectivity just like the PoW consensus is but to be decided. 

Cellula’s ecosystem

Cellula’s ecosystem consists of staking mechanisms, governance fashions, and a gamified asset issuance course of. Curiously, customers can purchase CELA tokens, which perform as each staking rewards and governance instruments.

Additionally, members seeking to mine BitLife can do that via strategies comparable to combining digital belongings or buying them via in-game shops. 

Achievements and initiatives

Amid sustained progress, Cellula just lately attained main milestones apart from its latest payment feat. This month, it secured a top-four place within the BNB Chain Fuel Grant Program for 2 consecutive months.

Moreover, Cellula introduced just lately that it had partnered with LBank Change, a transfer that expanded its attain. 

The platform has additionally obtained accolades for its contributions to blockchain innovation. In September 2024, Cellula was honored with the Innovation Excellence Award on the Catalyst Awards hosted by BNB Chain. 

This recognition adopted its earlier triumph on the ETHShanghai 2023 Hackathon, the place it won the “Layer-2 & On-chain Gaming” award. 

Cellula’s person base has expanded impressively, securing the primary spot on BNB Chain’s person and transaction development, with over 1 million BitLife entities minted as of the newest replace in August 2024. 

To assist the ecosystem’s development, the platform launched a month-to-month token burn initiative in November 2024 to cut back the token’s circulating provide. The inaugural burn eliminated over 1.6 million CELA tokens, equal to 12% of whole airdropped tokens.

Regardless of its spectacular development, Cellula faces potential challenges. The platform’s complicated mechanisms might deter much less tech-savvy customers, and scalability points may come up as adoption expands attributable to its nascence.

Additionally, sustaining the financial mannequin whereas sustaining person rewards shall be essential to its long-term success. Whereas the protocol’s robust neighborhood assist and options present a basis for addressing these hurdles, solely time will inform how successfully it could actually do that.