Chart of the Week

Ethscriptions are a novel way to mint NFTs on Ethereum using transaction calldata, inspired by Bitcoin Ordinals inscriptions. They have gained significant popularity in the past week, with almost 30,000 Ethscriptions created within the first 18 hours of the protocol’s launch.

New Project Spotlight

NFT Collectibles

[COMING SOON] ‘LIFE OF HEL - Volume 1’ is a project by NŌNE, the first winner of the annual Pulse Manga contest and co-host of Tokyopop's America's Greatest Otaku. Dropping on 26 June on Crypto.com NFT, it grants holders exclusive benefits like digital reading materials and priority access to future mints.

[COMING SOON] ‘Chinatown Warriors Mural’ is a collection by Gian Galang, an artist and illustrator specialising in dynamic portraits. This drop features digitised artwork of a physical mural painted in New York City’s Chinatown. The collection goes live on Crypto.com NFT on 28 June.

Blockchain Games

[COMING SOON] Crypto.com has announced the first Loaded Lions ManeCity trailer. Players will be able to build a thriving metropolis, furnish their own mansion, as well as engage in competitive gameplay with fellow tycoons.

[COMING SOON] D.G.Pals has released an updated list of its current and upcoming games. New upcoming developments include a mobile app for Merge Defence and an Adventure game set to launch in Q3 2023.

[COMING SOON] Eyeball Games has released a sneak peek of its new phase 2 user interface. Players will also be able to participate in PvP challenges. In addition, over 982K shots have been unleashed since phase 1 of the Eyeball Pool game.

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$9.73 billion, up +14% from last week.

News Highlights

• A $95,000 ‘CryptoPunk’ NFT was burnt and transferred to Bitcoin as an Ordinals inscription. The event, which marks the first ‘CryptoPunk’ teleburned from ETH to BTC, was a community-led effort conducted by developer Nathan Stein and holders of Bitcoin Bandits Ordinals inscriptions.

• Fortnite and Nike have unveiled ‘Airphoria’, an experience which allows users to go on a Nike sneaker hunt within a Fortnite game world. Users of Nike’s NFT-driven .Swoosh platform will be able to earn a special achievement on their NFT-based ID by connecting their account to an Epic Games account.

• Germany’s Federal Intelligence Service has launched dog-themed NFTs with an on-chain treasure hunt to recruit blockchain talent for the agency. The NFTs are collectible by finding a character string posted on Instagram which points to an Ethereum address.

• Blockchain-based trading card game Gods Unchained has joined the Epic Games store, which sells other popular video game titles such as FIFA 23 and League of Legends. The game, based on the Immutable X blockchain, held up to 92% of the non-Ethereum NFT trading volume for Web3 games in June 2023.

Recent Research Reports

• Research Roundup Newsletter [May 2023]: In our latest issue of Research Roundup, we feature trending market insights in May, charts of the month, and our latest research reports exploring memes — what makes them successful, their role in cryptocurrency and Web3, and the resurgence of meme mania.

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

• Alpha Navigator: Quest for Alpha [May 2023]: Asset classes mostly dipped in May and cryptocurrency remains the best performer year-to-date (YTD). US debt ceiling dispute defused, and interest rate decisions from multiple central banks will be made in the coming month.

Recent University Articles

• What Are Block Explorers and How Do They Work? Block explorers allow anyone to view transactions on a blockchain. Here’s how they work and how to access them.

• What Are Blockchain Forks? This guide explains what blockchain forks are, the differences between hard and soft forks, and how they can change the functionality and price of cryptocurrencies.

• 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.

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.

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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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