Chart of the Week

Although the total NFTs sales volume dropped by 21% last week in the Bitcoin network, it still boasts a strong presence in the NFT market. There were four sets of NFTs on Bitcoin within the top 10 projects by weekly sales volume. In total, they garnered US$36 million in sales across seven days.

Solana followed behind with a total of $14 million in sales, and three projects were in the top 10 projects.

New Project Spotlight

NFT Collectibles

[Live] Rooted

Paris-based digital artist Natacha Einat returns with her fifth Crypto.com NFT collection! Her latest drop, ‘ROOTED’, is a series of metaphors exploring the theme of trees and the four annual seasons. Just 166 surprise packs are available, with eight unique collectibles distributed among them.

[Upcoming] Rainmakers

There’s an incredible tale from decades or even centuries ago detailing how rainfall always accompanies aliens when they visit. Barbara Redekop brings this urban legend to life in her ‘Rainmakers’ collection, boasting 10 different NFTs spread out across 300 surprise packs.

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 $39.91 billion, increasing by +4.42% from last week.

News Highlights

• OpenSea adopts the ERC-721C standard, allowing creators to set and enforce royalties on their NFTs. This ensures proper compensation and control over their intellectual property. Creators on OpenSea can activate this feature through compatible smart contracts.

• Animoca Brands’ Mocaverse public token sale (MOCA) features 8,888,888,888 tokens, with 126,984,127 earmarked for the community. The token sale grants exclusive access to ‘Mocaverse’ NFT holders, Moca ID users, and key partners only.

• Animoca Brands Japan launches Nine Chronicles M on Coincheck NFT, introducing ’De:Centralised Cat (D:CC)’ NFTs to support Web3 projects in Japan. This facilitates the global outreach of Japanese IP in the Web3 space.

• Poopcoin (POOP), launched by Doodles creator Jordan Castro, skyrockets post-airdrop, witnessing $60 million in transactions within ten hours. However, concerns arise over its uncertain future as two wallets hold over 36% of its supply. Additionally, POOP’s value is down almost 80% since inception, per CoinGecko.

• Andreessen Horowitz (a16z) launches 'SPEEDRUN', a gaming accelerator programme which offers $30 million to 40 startups in Web3, AI, and VR gaming. The programme aims to expedite deployment within 45 days, with its Demo Day held during SF Tech Week.

Recent Research Reports

• Bitcoin Ordinals Development and Introduction to Runes: We explore Bitcoin Ordinals‘ development, from BRC-20 to Runes, as well as the significance and controversies surrounding them.

• Landscape of Staking Providers: An overview of the current landscape of staking service providers, the bedrock of staking in Proof of Stake chains.

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

Recent University Article

• How to Trade in This Crypto Bull Market: The crypto bull market is here and traders are adjusting their strategies to this market phase. Here’s how.

• What Is Coq Inu and How to Buy COQ: Coq Inu opened up a new category in the world of meme coins with a play on the French word for rooster. Here’s what else to know about this trending token.

• What Is BOOK OF MEME and How to Buy BOME: BOME burst onto the meme coin scene in March 2024 and has quickly captured the crypto space’s attention. Here’s an introduction to the project and the potential of its coin.

We’re all ears.

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Authors

Research and Insights Team

Disclaimer

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