Chart of the Week

Yuga Labs, the creator of NFT collections like Bored Ape Yacht Club and Mutant Ape Yacht Club, has taken a strong stance on protecting creator royalties. The firm has done this by blocking the trading of its latest NFT collection ‘Otherside Mara’ on several major NFT marketplaces. These include OpenSea, Blur, LooksRare, and SudoSwap V1. 

This move is a response to marketplaces backtracking on their commitment to ensure fair compensation for creators when their NFTs are resold on the secondary market. Yuga Labs aims to support marketplaces that enforce royalties, such as X2Y2, Rarible, and Sudoswap V2, and only allows trading of its newest NFTs on these platforms.

New Project Spotlight

NFT Collectibles

[LIVE] Take your explorations to the next level with Crypto.com’s latest collection, ‘Crypto.com Expedition Gear: Tools of the Trade‘. It serves as a complementary collection to the first ‘Crypto.com Expedition Gear’ drop, equipping users with the gear they need to traverse the various Crypto.com Lands. In this collection, 40,000 ‘Elite Tool’ NFTs will be available for purchase, and ‘Crypto.com Expedition Gear’ backpack NFT holders will be airdropped at least one of five unique ‘Core Tool’ NFTs. Visit the Crypto.com blog for full details.

[COMING SOON] Created by DeFi The Game, ‘The International Game‘ collection features NFTs that celebrate cricket’s growth into a worldwide sport enjoyed by billions. Purchasing an NFT grants purchasers a redeemable, giving holders a chance to watch high-profile and first-class cricket fixtures in locations such as India, South Africa, England, Australia, and the UAE.

The following table shows selected top games by weekly volume in USD:

Gaming Token Performance

The total market cap for gaming tokens now stands at US$8.25 billion, growing by +1.7% from last week.

News Highlights

• PayPal filed a patent application for an NFT marketplace that facilitates on- and off-chain trading of assets. The proposed system would allow users to buy and sell NFTs through a third-party service provider, with Ethereum mentioned as a possible platform.

• Adidas Originals and Moncler teamed up for a fashion collaboration called "The Art of Explorers”. The campaign combines physical and digital elements, featuring AI-generated adventures and mixed-media sculptures. The collection, available on Moncler’s official website, offers limited-edition fashion items that can be explored and purchased through digital billboards. An NFT version of the Moncler x Adidas Originals NMD boot and other fashion items will be available through the Adidas Confirmed app from October 4 onwards.

• Aavegotchi and The Sandbox announced plans for an interactive game and airdrop in the metaverse, scheduled for October 25. Participants in the Aavegotchi x Sandbox Metaverse experience will have the opportunity to explore a virtual world and receive rewards, including SAND and GHST tokens.

• OpenSea introduced OpenSea Studio, which aims to make it easier for creators and developers to create and launch their own NFT projects. The platform provides a suite of tools and services, including customisable templates, smart contract libraries, and a user-friendly interface. OpenSea Studio also offers support for various blockchain networks.

Recent Research Reports

• Ethereum: Dencun Upgrade and Proto-Danksharding: Ethereum’s next major upgrade is Dencun, which introduces Proto-Danksharding. We explore what it is and its benefits.

• Alpha Navigator: Quest for Alpha [September 2023]: Risk assets end 3Q 2023 mostly down on a QoQ basis, but YTD paints a more positive picture. Inflation retreats, and the US avoids a government shutdown.

• Decentralised Stablecoins: Stablecoins are well positioned to facilitate broader adoption of cryptocurrencies. We explore key decentralised stablecoin projects and their innovative mechanisms.

Recent University Articles

• What Is Polkadot (DOT): Learn about one of the most important multichain networks in the cryptocurrency space and how it addresses scalability and interoperability issues — plus how to use its governance token, DOT.

• Recruitment Scams - How to Know if a Job Offer Is Fake: Received a job offer out of the blue that sounds too good to be true? It might be a recruitment scam. In this article, learn all about fake job offers in the cryptocurrency space and how to recognise them.

• What Is Cryptojacking and How to Recognise It: Follow these essential steps to minimise the risk of falling victim to the silent threat of cryptojacking.

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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