Chart of the Week

NFT borrowing volumes have surged in recent months, driven by platforms like Blur’s new lending platform, Blend. Blend exceeded 100,000 ETH in total volume, or approximately US$181 million, in just 17 days after its launch.

New Project Spotlight

NFT Collectibles

[COMING SOON] ‘Most Valuable Lions’ is a project by Crypto.com, inspired by its partnership with the Philadelphia 76ers. Dropping on 9 June on Crypto.com NFT, it features ‘Unguardable’ and ‘The Process’, the two remaining felines in the 'Most Valuable Lions' collection.

[COMING SOON] ‘Endless’ is a collection by NFT development team VerAI. This drop comprises 24 NFTs generated using techniques such as polygonal modelling and fractal generation. The collection goes live on Crypto.com NFT on 12 June.

Blockchain Games

[COMING SOON] Croskull is launching new pets for its Season 5 adventure. It has also released a tool for its Ordinals bitCroSkull collection, which includes metrics such as holders count, floor wall, and other market data.

[LIVE] Snook has released 100 special skins, and counting, for the game. Players can use traits they collect to unlock special skins on Snook, subsequently upgrading their NFTs' value.

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$10.39 billion, down -6% from last week.

News Highlights

• Luxury fashion house Louis Vuitton is set to debut a limited series of NFTs, each priced at about $41,712. Named ‘Treasure Trunks’, it consists of only a few hundred NFTs and each one will come with a matching, made-to-order physical Louis Vuitton luggage trunk.

• Bored Ape NFT #2758 has signed a movie contract with Pirexia Films, led by Netflix director JM Cravioto. This marks the first time an NFT actor will star in a film and be issued a salary that matches the rates set by the Screen Actors Guild (SAG).

• Nike’s NFT platform .SWOOSH is set to be integrated with EA Sports, potentially allowing Nike's virtual footwear and apparel to appear in games. The partnership would allow Nike to unlock new experiences for the .SWOOSH community and the EA Sports fan base. 

• Global travel platform Trip.com has announced its first NFT collection tailored specifically for regular travellers. The collection features a variety of dolphin-themed characters known as ‘Trekki’ and holders will be able to accumulate valuable rewards as they travel around the world.

Recent Research Reports

• Alpha Navigator: Quest for Alpha [May 2023]: Asset classes mostly dipped in May and crypto remains the best performer YTD. US debt ceiling dispute defused. Interest rate decisions from multiple central banks in the coming month.

• The Evolution of Memes and What Makes Them Successful: What are memes, how have they evolved, and what makes them successful? We also explore their role in crypto and Web3, and what the future holds for them.

• Monthly Research Roundup (May 2023): In this issue, we feature trending market insights and our latest research reports explores the meme landscape, including their relationship with the Web3 economy and quantitative analysis of meme coins.

Recent University Articles

• What is Cryptocurrency: Still wondering what cryptocurrency actually is, how it works, and how to use it? We’ve got the answers in this crypto beginner’s guide.

• 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.

• 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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