Key Takeaways

• OpenSea added Avalanche support to its online marketplace. According to OpenSea’s rankings, Avalanche’s top two NFT collections of all time are “Smol Joes” and “Smol Lands”.

• Doodles, a popular and colourful NFT project, announced a Miami mini golf event this winter. The event, DoodlePutt, will take place in Wynwood, Miami, between the 2nd and 3rd of December. 

• Axie Infinity: Raylights, a land mini game, is live for all landowners. Players can sow minerals, grow plants, and cultivate their plot. The game can be played directly on a browser with no download required.

• X2Y2 recorded a +43% increase in sales and a -37% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +28% and its transaction count also increased +11%.

• The total market cap for GameFi tokens now stands at US$7.75 billion, down -12% from last week.

Crypto.com NFT in the Spotlight

• “Action Bears Club” is an engaging way for anyone to get involved in offsetting their carbon footprint. Revenue from the NFTs directly funds two global green projects. There are only 300 mystery packs available, with each pack containing one of seven dancing polar bears.

• “Deepest Fears” is a collection of ten NFTs representing ideas that torment us, materialising them, and creating captivating images designed to make something beautiful out of fear. The collection is created by Germán Benito, a seasoned graphic designer from Spain who has a fiery passion for producing remarkably unique pieces of art.

NFT Highlights

• DeGods Solana NFT collection joins zero royalty bandwagon

• Damien Hirst live streams the burning of $10M in art for NFT project

• Barbie partners with Boss Beauties for a new NFT collection

• NFT infrastructure company Gomu closes $5M seed round

• Korean music label Modhaus to launch first K-pop girl group tripleS, formed with NFT-based fan-voted members

• French authorities charge 5 over theft of Bored Ape NFTs

GameFi Highlights

• Decentraland gears up for its second annual metaverse music festival

• Popular move-to-earn game STEPN begins staff layoffs amid the bear market

• Gabriel Leydon’s Limit Break purchases $6.5M Super Bowl ad spot for DigiDaigaku NFT collection

• Axie Infinity player count falls back to Jan 2021 levels

• Catheon Gaming and Cointelegraph announce strategic blockchain gaming partnership

NFT Transaction Benchmark

Sources:

Magic Eden data refer to the on-chain activity of the tracked smart contracts.

LooksRare, OpenSea, and Coinbase data are retrieved from Dune Analytics.

Magic Eden, X2Y2, NBA Top Shot, and Solanart data are retrieved from DappRadar.

Notes:

1. Year-to-Date (YTD) volume is calculated from the first day of the current year to the current date.

2. Week-on-Week (WoW) % change is calculated based on the differences between two subsequent seven-day periods.  

3. Transaction count and average price refer to the number of traders and average price over the past seven days, respectively.

4. LooksRare was launched on 10 January 2022.

5. X2Y2 was launched on 16 February 2022.

6. A significant percentage of the transaction volume on LooksRare/X2Y2 could be from wash trading.

The following chart shows select top NFTs and their historical floor prices:

Top Collections

The following information shows selected top artists (by sales volume on each platform) and a sample of their art.

Platform: Crypto.com NFT
Artist: Loaded Lions
Sales Volume (USD): $77,000

Platform: Minted
Artist: VVS Miner Mole
Sales Volume (USD): $119,000

Platform: Magic Eden
Artist: Lunar NFT
Sales Volume (USD): $3,578,000

Platform: OpenSea
Artist: Bored Ape Yacht Club
Sales Volume (USD): $3,645,000

GameFi Top Gainers & Losers

*Gaming Infrastructure tokens: ENJ, FLOW, WAXP, UOS, MBOX, DAWN, GALA, IMX

*Gaming Utility tokens: AXS, MANA, SAND, ALICE, ILV, ATLAS, POLIS, GODS, GMT, DAR, AURY, APE, PYR

*Gaming Guild tokens: YGG, MC, UNIX, GGG, AGV

Top Games Metrics

* Week-on-Week (WoW) % change is calculated based on the differences between two consecutive seven-day periods
* Users refer to the number of unique wallet addresses interacting with the dApp's smart contracts
* Weekly Volume refers to the total amount of incoming value to the dApp's smart contracts during the seven-day period

* Weekly Transactions refer to the no. of transactions made on the dApp’s smart contracts during the seven-day period
* Stickiness refers to the ratio of daily active users (DAU) to monthly active users (MAU). A high stickiness means users consistently return to the dApp.

* Weekly volume using Splinterlands data is approx US$288K.
* Alien Worlds, Splinterlands, MOBOX, Sunflower Land, Pegaxy, SecondLive, Axie Infinity, DeFi Kingdoms data 

from DappRadar

* STEPN data from Dune Analytics

Daily Gamers by Blockchain

Disclaimer

The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.

This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement.

The brands and the logos appearing in this report are registered trademarks of their respective owners.

Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.

Thank you for reading! We hope you find our Weekly NFT & GameFi Update enlightening!

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