Fantasy.top migrates to the Base ecosystem, Blast faces ecological loss challenges

Recently, the decentralized card game Fantasy.top announced that it will migrate from the Blast network to the Base ecosystem and support user asset migration. This news has sparked widespread discussion in the community, with many believing that this is a result that has long been foreshadowed.

Fantasy.top, as a star project on the Blast network, has been an important pillar of the ecosystem since its launch in May 2024. Data shows that the game contributed 83% of the protocol revenue of the Blast ecosystem in the past 24 hours, approximately $10,566. Over the past 6 months, Fantasy.top has also been the third highest application in terms of user trading volume on the Blast network.

However, Fantasy.top is not the only project leaving Blast. Recently, the Blast ecosystem has faced serious issues with project and user loss. Data shows that the total value locked in Blast's DeFi has shrunk from a peak of $2.2 billion to the current $87 million, a decline of over 95%. Meanwhile, the number of daily active addresses on the Blast network has sharply decreased from over 180,000 at the end of June 2024, remaining between 2,000 and 5,000 in recent months.

The migration of multiple projects further highlights the challenges faced by Blast. For example, pump.fun ceased operations on Blast after a brief attempt; the lottery application Megapot migrated from Blast to Base; and the Ethos Network, which was originally planned to launch on Blast, ultimately chose to start on Base. These cases indicate that Blast is facing severe challenges in attracting and retaining projects.

The Blast ecosystem has recently faced other negative news. In May 2025, Blast announced that it would not renew its service agreement with Safe; in June, the Blast ecosystem DEX Thruster announced that it would gradually cease operations. These events further undermined the confidence of developers and users in the Blast ecosystem.

Analysis suggests that the reasons for Blast's decline from its peak include: the cooling of the NFT market impacting Blast, which is deeply tied to Blur; a mismatch between the points economy and actual demand; a significant drop in the prices of BLAST and BLUR tokens; insufficient ecological diversity; and a weakening appeal of the "native yield" narrative, among others.

The migration of Fantasy.top is undoubtedly a clear signal of the diminishing appeal of the Blast ecosystem. This event once again proves that in the crypto world, relying solely on short-term speculation and marketing strategies is insufficient for sustainability; only projects that truly address user needs and build a healthy ecosystem can stand firm in fierce competition. The migration trend from Blast to Base reflects that the Layer 2 sector is undergoing a "de-bubbling" process.