Chart of the Week

Pudgy Penguins launched the beta version of OverpassIP, an IP licensing platform to streamline the licensing process for NFTs at the end of January 2024. The platform aims to provide Pudgy Penguins and Lil Pudgys NFT holders with opportunities to transform their characters into physical products such as toys.

Since the platform’s launch, the collection’s trading volume and average price have been experiencing considerable growth recently. It topped the trading volume charts on NFT markets Blur and OpenSea in the past week, and the average sales price has surged, reaching over US$46,000.

New Project Spotlight

Blockchain Games

[Live] Loaded Lions: Mane City Prosperity Blitz

As Loaded Lions: Mane City prepares for its next full-fledged Competitive Mode season, players can compete in a two-week Blitz event again and earn the opportunity to win from a prize pool of US$35,000+!

100% of Diamond spend will be allocated to the prize pool, with 70% of this being exclusive to the Prosperity Blitz. What’s more, special NFT rewards are waiting for the top player as well, including the ‘Lion’s Tenacity Award’ collectible.

NFT Collectibles

[Live] The Depot

Missed your chance to snag an ‘Expedition Gear’ NFT in the initial drop and previous Depot restocks? Scoop up all the tools you need in this latest Depot restock, and gear up for the next Loaded Lions: Mane City Competitive Mode event. These might just come in handy beyond the game too. Stay tuned for more details!

[Upcoming] MGRNS

Portuguese 3D artist Tiago Marinho returns with ‘MGRNS’, a sequel collection to his ‘Migraines: State of Mind’ Crypto.com NFT drop. His latest project tells a tale about a business selling emotions and experiences in collectible packages. You can start shopping this drop starting 19 February.

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 $26.73 billion, increasing by 21.12% from last week.

News Highlights

• One week after the release of Ethereum’s ERC-404 token standard, which introduced fractional NFT ownership, a competitor called DN404 (Divisible NFT) emerged. It combines aspects of ERC-20 and ERC-721 tokens in a two-part system and promotes direct token trading without a middle man. Despite this advancement, concerns about ERC-404's stability and adherence to existing standards have emerged.

• Disney and Epic Games have announced a $1.5 billion partnership to develop an immersive gaming and entertainment universe integrating Disney’s franchises with Fortnite. This partnership aims to deliver a 'persistent universe' for players to interact, shop, and engage in content, signalling another significant move towards the metaverse.

• The creators of Axie Infinity, Sky Mavis, have announced a collaboration with Japan-based developer GMonsters and mobile game publisher MIXI to bring Fight League games to the Ronin blockchain. This collaboration provides greater exposure and a wider audience for the Fight League franchise, tapping into blockchain gaming, and further promoting the use of blockchain technology in the gaming industry.

Recent Research Reports

• Alpha Navigator: Quest for Alpha [January 2024]: Fed signals rate cut in March unlikely. Asset class performance was mixed in January, with crypto and equities up slightly.

• Research Roundup Newsletter [January 2024]: We present to you our latest issue of Research Roundup, featuring trending market insights in January, charts of the month, and our deep dive into the world of crypto ETFs.

• Crypto ETFs: This report explores what crypto ETFs are, providing an overview of the current crypto ETF market and looking into how they work as investment vehicles. Plus, we explore their features, significance, advantages, and drawbacks.

Recent University Articles

• What Is NEAR Protocol (NEAR)? How It Works and How to Buy NEAR: The NEAR protocol is designed to incentivise a network of computers to operate a platform for decentralised applications, utilising sharding for more efficient data retrieval and scaling.

• What Is Bitcoin (BTC) Dominance?: In this beginner’s guide, learn the ins and outs of BTC dominance — what it means, and what happens when BTC dominance goes up or down.

• Crypto Market Makers vs Market Takers — What They Are and How They Influence: Crypto market makers provide liquidity by placing buy and sell orders, while market takers seek immediate execution of their orders. Here’s how they interact with each other.

We’re all ears.

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Authors

Research and Insights Team

Disclaimer

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