Chart of the Week

Data shows that in the past 30 days, the total sales volume for Bitcoin NFTs has grossed US$192 million, which made Bitcoin the second largest blockchain for NFTs, just behind Ethereum.

Check out our research report: Bitcoin’s Expanding Ecosystem: Layer-2, DeFi, NFT.

New Project Spotlight

NFT Collectibles

[COMING SOON] ‘Jewelry ART 1.0’ is a project by Jewelry cryptoART, a jewelry designer based in France. Dropping on 5 June on Crypto.com NFT, it explores the marriage of technology and craftsmanship, and offers collectors a new way to appreciate and own jewelry-inspired artwork.

[COMING SOON] ‘MindScape: A Journey into the Inner Mind’ is a collection by fantasy artist Rosco Adrian. This drop highlights the surreal and fantastical nature of how our subconscious works and its beautiful inner chaos. The collection goes live on Crypto.com NFT on 16 June.

Blockchain Games

[LIVE] D.G.Pals has launched free-to-play game Merge Defence, where players are able to participate by creating an account on the D.G.Pals website. Players who rank among the top 500 teams are eligible to earn a whitelist spot for the game’s subsequent Starter Bundle Mint.

[LIVE] Snook has released the Themed Rooms feature, where players can design and play in their own environment with their community. This helps to foster crypto communities, and enables Snook playing grounds with distinct branding and graphics.

The following table shows select top collections (by weekly sales volume on each platform) and a sample of their art:

The following table shows select top games by weekly Unique Active Wallets (UAW):

Gaming Token Performance

The total market cap for gaming tokens now stands at US$11.01 billion, up +1%from last week.

News Highlights

• The BRC-721E token standard, jointly launched by the Ordinals market and the ‘Bitcoin Miladys’ NFT collection, allows traders to transfer their ERC-721 NFTs to Ordinals. During the process, Ethereum-based NFT holders will burn their tokens and inscribe them onto a satoshi in the Bitcoin network.

• Reddit Collectible Avatars NFTs have surpassed 10 million holders, driven by a recent free minting of Ubisoft’s Rabbids NFTs. The Rabbids NFTs are traded on marketplaces like OpenSea, with the highest recorded sale being Unicorn Rabbid #9 for $669 (0.35 ETH).

• Mercedes Benz’s Web3 arm is set to release an NFT collection titled ‘Maschine’. The generative art collection draws inspiration from automotive concepts, and consists of 1,000 unique Ethereum-based tokens featuring themes of velocity and perception, with the artwork mimicking a wheel in motion.

• All Nippon Airways (ANA), the largest airline in Japan, has launched an aeronautical-themed NFT marketplace. The platform, named the ‘ANA GranWhale NFT Marketplace’, will feature an inaugural collection created by aerial photographer Luke Ozawa.

Recent Research Reports

• Monthly Research Roundup (April 2023): In this issue, we feature trending market insights, and our latest research reports take a closer look into Bitcoin’s expanding ecosystem, specifically Layer 2s, DeFi, and NFTs.

• Alpha Navigator: Quest for Alpha [April 2023]: Asset classes were generally flat in April, with cryptocurrency outperforming other assets. The US Federal Reserve could be on the cusp of ending its interest rate hike cycle.

• Bitcoin’s Expanding Ecosystem: Layer-2, DeFi, NFT: The landscape of the latest projects building on top of Bitcoin is expanding beyond payments. It now includes Layer-2 scaling solutions and key application categories like DeFi and NFTs.

Recent University Articles

• A Short History of Bitcoin Price: The price of BTC has experienced peaks and valleys ever since it launched in 2009. Learn all about Bitcoin's price history in this article.

• What Are ERC-20 Tokens? All About Ethereum’s Most Important Token Standard: ERC-20 is a token standard for fungible tokens on Ethereum. Learn what it is and how cryptocurrencies can be minted with it.

• How to Buy Bitcoin and Other Cryptocurrencies: Wondering how to buy your first Bitcoin? Or cryptocurrency in general? Here's a step-by-step guide on crypto buying for beginners.

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.

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