New Research Shows How a Few Addresses Shape Blockchain Game Economies

Researchers analyze the transaction graph of The Sandbox blockchain using a bow-tie network model and compare it with studies of Steemit, Decentraland, and Axie Infinity. The findings suggest a recurring pattern across blockchain ecosystems: most activity occurs in a central strongly connected component, while a small number of “whale” addresses wield disproportionate influence. These results highlight how transaction graph analysis can reveal power structures, user behavior, and systemic risks within GameFi platforms.