Chart of the Week

The floor price of ‘Bored Ape Yacht Club’ (BAYC) NFTs has plummeted over 90% from its peak of 120+ETH to 11.6 ETH (approximately US$34,000) currently. This marks its lowest floor price since August 2021 and is reflecting a decline in the popularity of digital art NFTs. This drop brings BAYC's floor price back to where it stood just months after its April 2021 launch. Despite this downturn, some BAYC NFTs have sold well above their floor price. For example, BAYC #830 fetched 504.3 ETH (US$1.92 million) just last month.

New Project Spotlight

NFT Collectibles

[Upcoming] The Dark Lions Are Coming to Loaded Lions: Mane City

Loaded Lions: Mane City Season 2 is coming soon, and with that comes several game changing updates. The Faction system, Abilities feature, as well as the highly anticipated ‘Dark Lions’ and ‘Crypto.com Tactical Gear’ NFT collection integrations are all part of this massive update.

The NFT collections above play a vital role by enabling you to hit harder and defend stronger. You can attack your fellow tycoons more frequently, reduce the cost of an Attack, or extend the duration of an Attack on the tycoon you’re targeting.

[Upcoming] Deviants

Astra Nova is a revolutionary free-to-play Web3 RPG game, and Deviants Deployer’s ‘Deviants’ NFTs will serve as your in-game companion characters. Each one of these collectibles is upgradeable and are vital to unlocking the mysteries in Astra Nova’s game world.

15 different species of Deviants are distributed across 1,664 surprise packs. Pick up a companion and make the leap into Astra Nova!

[Live] Ballies: Divas

Ballies is a leading force in the Web3 sports gaming world, boasting its own Meta-Court metaverse and video game. ‘Ballies: Diva’ celebrates empowerment and diversity among ladies, with 1,000 unique algorithmically generated NFTs distributed across an equal number of surprise packs.

It’s time to revolutionise the way you play and engage with the Ballies universe!

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 $28.94 billion, decreasing by -22.4% from last week.

News Highlights

• STEPN and adidas have partnered to launch a limited-edition ‘STEPN x adidas Genesis Sneakers’ NFT collection on 17 April, available to five million STEPN users via the MOOAR marketplace. This collaboration marks the beginning of a year-long partnership. This will feature co-branded activities and physical items, and highlights STEPN's growth in the move-to-earn sector.

• MetaMask has partnered with Daylight to allow users to easily check their eligibility for NFT airdrops and discover trending mints using Daylight’s API. It also offers personalised NFT recommendations based on societal factors and user interactions. 

• Animoca Brands Japan plans to launch an NFT launchpad this summer to support Japanese IP and content creators in Web3, leveraging its vast network and partner base of over 700 million users worldwide. The platform will assist selected projects with sales strategies, marketing, and offer flexible payment methods.

• Ubisoft showcased its first blockchain-based game, Champion Tactics Grimoria, during Paris Blockchain Week. The game offers players the ability to craft blockchain-based figurines with unique attributes for turn-based PvP battles. Champion Tactics Grimoria is set to launch by the end of 2024.

• Yuga Labs sold gaming IPs HV-MTL and Legends of the Mara to Web3 gaming studio Faraway. The studio also hired Yuga Labs’s Chief Gaming Officer as its new Chief Product Officer.

• BytePlus, a ByteDance subsidiary, partnered with Sui to adapt its AR products and recommendation solutions for gaming and social apps on the blockchain.  The company will offer services like personalised app creation and a vast library of video effects.

Recent Research Reports

• Crypto.com Visa Card Consumer Spending Insights 2023: A full breakdown of what our community across the globe likes to spend on in 2023.

• Decentralised Compute for AI Development: This report explores the subsectors of the decentralised compute networks and their representatives, and how they contribute to the development of AI.

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

Recent University Article

• What Is Leverage Trading in the Crypto Market?: Learn how to use leverage in your crypto trades and balance the potential for greater profits with its risks.

• All Artificial Intelligence (AI) Tokens You Can Buy on Crypto.com: Here’s a complete list of all AI tokens available for purchase in the Crypto.com App and on the Crypto.com Exchange.

• What Is an Order Book and How Does It Work?: Order books are used by cryptocurrency exchanges to facilitate liquid and transparent trading. Learn what they are and how they work.

We’re all ears.

Your feedback helps make our reporting more insightful. Tell us how we can improve this newsletter by taking the survey below. It will take less than a minute of your time. Thank you!

Take our survey now

Authors

Research and Insights Team

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.

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