Network Analysis of The Sandbox Reveals the Hidden Forces Driving GameFi Economies

This study analyzes The Sandbox GameFi ecosystem using the bow-tie network model to map blockchain transactions. It finds that while large stakeholders (“whales”) heavily influence short-term activity, long-term stability depends on sustained user participation. Surprisingly, major external events—including the Ronin hack and regulatory hearings—had limited lasting impact on the network, highlighting the resilience of GameFi ecosystems and the importance of community-driven engagement.