Chart of the Week

Find Satoshi Lab, the founder of Stepn, launched a video game named ‘Gas Hero’. It generated over US$75 million in NFT trading volume since it launched earlier this month. Among its six NFT series, the ‘Gas Hero Common Heroes’ topped sales volume of over US$38 million across the last 30 days.

New Project Spotlight

NFT Collectibles

[Live] Boomer Squad: Arcade Game Pass

Boomer Squad, as a leading project on the Cronos network, cultivates a vibrant ecosystem teeming with on-chain games, NFT collections, events, and groundbreaking protocols.

The Arcade Game Pass unlocks in-game tokens, wallet benefits, and exclusive merchandise for existing and upcoming games. Users can easily explore this dynamic NFT landscape by connecting to the Boomer Squad website with their NFT. This provides users with an affordable entry point into the ecosystem without full commitment. This group is dedicated to enhancing the NFT journey for collectors of all experience levels, from beginners to seasoned enthusiasts.

[Upcoming] 

Mysterious Gardens

Ashkan Galehdari is an Amsterdam-based digital artist whose creations are deeply rooted in Eastern Culture.

‘Mysterious Gardens’, his latest NFT collection, is inspired by old Eastern paintings and captivating architecture. It’s devised to transport collectors to a world that is both familiar and simultaneously otherworldly. This collection celebrates the human experience, its creativity, and the constant pursuit of understanding and order.

SYNTHTOPIA: THE HOLY GRAIL

DESTABILIZED is a dynamic collective that's disrupting the NFT space through a blend of art, culture, and community. They've scored several major achievements and have collaborated with leading organisations like Fracture Labs, Loot8, Undo Records, and Daemon Engine.

Their newest drop, the ‘SYNTHTOPIA’ collection, expands the Genesis set and lifts the bar with two additional Mystery Packs totaling 6000 NFTs. The NFTs include avatars, robots, cinematic moments, exclusive merchandise, airdrops, and more.

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 $20.21 billion, increasing by 2.54% from last week.

News Highlights

• ‘Cool Cats’, a popular NFT collection, has announced a partnership with Immutable to launch the first of three games in 2024. Developed by PlayEmber and Sync Studios, the match-3 mobile game, named 'Cool Cats: Match Quest', is set to launch in 2Q 2024. It aims to expand the Cool Cats brand, take the collection multi-chain, and enhance fan engagement with special rewards.

• NFT marketplace Magic Eden has announced three initiatives aimed at enhancing its NFT ecosystem. These initiatives include a new rewards programme that will extend to Bitcoin, Ethereum, and Polygon, alongside its initial availability on Solana. Additionally, the marketplace is developing a universal cross-chain wallet that allows seamless cryptocurrency exchanges in order to facilitate trading for NFT collectors across multiple blockchains.

• ‘Genesis Cat’ from the ‘Taproot Wizards’ collection was recently sold for $254,000 at a Sotheby's auction, highlighting the growing interest in digital art minted via the Bitcoin blockchain's Ordinals protocol. Artist Francisco Alarcon, the creator of ’Genesis Cat’, combines technology and art, challenging conventional forms of art. Sotheby's ’Ordinals Curated Sale’ auction featured 19 lots from 11 artists, earning $1.1 million in total. This emphasised the rising demand for Bitcoin-based digital art.

• The Chinese government has formed a Metaverse Standardization Working Group in response to the growing popularity of the metaverse concept. The group includes Chinese universities, government institutions, and major tech companies like Tencent, Huawei, and Baidu. The goal of the group is to establish rules and guidelines for metaverse platforms in China, ensuring a structured and secure environment for users.

• South Korean telecommunications firm KT Corporation, which boasts over $32 billion in total assets, has announced its decision to shutter its non-fungible token (NFT) platform, MINCL. This is effective from 4 March and the company pointed to unpredictable business conditions as the rationale for its decision. The move follows similar actions by other major South Korean corporations, including Hyundai and Netmarble, to discontinue their Web3 divisions.

Recent Research Reports

• Crypto Market Sizing Report 2023: Global cryptocurrency owners increased by 34% in 2023, rising from 432 million in January to 580 million in December.

• Alpha Navigator: Quest for Alpha [December 2023]: FOMC minutes appear to reaffirm the prospect of an interest rate turnaround. Risk assets were mostly up in December, led by ETH and BTC.

• 2023 Year Review & 2024 Year Ahead: 2023 has been an eventful year for the cryptocurrency industry. In this report, we curate the top crypto events and trends of 2023, followed by our outlook for 2024.

Recent University Articles

• What Is 2FA? How Two-Factor Authentication Can Protect Your Cryptocurrency: Enhance your online security with two-factor authentication (2FA). Learn what it is, how it works, and why it’s crucial for protecting your online accounts.

• What Is Copy Trading and How Does It Work? Copy trading allows users to benefit from the expertise of other traders without having to learn market analysis. Here’s how to get started.

• What Big Data Is and How It Might Change With Web3: Big data refers to the vast, complex datasets that shape our online experiences. Here’s a guide to understanding how it’s used.

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.

We’re all ears.

Your feedback has always helped us provide insightful crypto market trends. Tell us how we can improve this newsletter further by taking a quick survey below (it will only take less than a minute). Thank you!

Take our survey now

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

Hungry for more? Visit our Research Hub and University to access other insightful crypto research! 

Share with a friend if you like our email!

Share