Chart of the Week

Gaming-related NFTs were under the spotlight, as four gaming-themed NFT collections – namely Guild of Guardians Avatars, Pixelmon, Dmarket, and Fantasy.top – were among the top 10 projects by sales volume in the last seven days.

Tied to Immutable’s online game, Guild of Guardians Avatars surged by 44%, taking the second spot on the NFT leader’s board with US$5.8 million in sales. DMarket, a marketplace for trading in-game items on the Mythos network, also showed strong sales. Fantasy.top, a SocialFi protocol that turns crypto influencers on X (Twitter) into an NFT game saw a ~60% drop in both sales and transactions. Pixelmon, an Ethereum-based game inspired by Pokémon, saw a surge in NFT purchases triggered by its MON token airdrop.

New Project Spotlight

Blockchain Gaming

[Upcoming] Loaded Lions: Mane City Season 2 Competitive Mode Events Calendar

The Mane City Team has organised a series of Competitive Mode events that lead up to World Series II: The Great War. We’ll be giving away a grand total of over US$500,000* worth of CRO and NFTs across all seven events, including The Great War. 

More details regarding each event will be shared before they begin. 

NFT Collectibles

[Live] Art de Finance APN : The Second Mythology Mystery Pack

The second instalment of Art de Finance’s APN series features gods from the legendary Mount Olympus: Zeus, Poseidon, and Hermes. Collectors have the opportunity to receive exclusive token airdrops, merchandise crafted in collaboration with Art de Finance’s partner artists, and more.

[Upcoming] Travelers of Egret Bridge

Egret Bridge – a busy town where those traveling North or South by boat cross those traveling East or West on foot. Following 2022's Escape From Egret Bridge, ‘Travelers’ is the latest collection from the world of The Longclaw Teahouse. 

Each of the 211 packs contains a unique Traveler made from hand-drawn traits. Hidden within are a variety of prizes. 

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 $33 billion, up +0.42% from last week.

News Highlights

• ENS Labs has proposed ENSv2 to expand the Ethereum Name Service (ENS) to Layer-2 networks, aiming to enhance efficiency, decentralisation, and integration across blockchains. The new hierarchical registry system will improve control over .eth names to make them more accessible and affordable.

• Yuga Labs CEO Greg Solano announced new developments for Bored Ape Yacht Club, including ‘Project Dragon’, a large-scale action game, and enhanced 3D game creation through the Otherside Developer Kit (ODK) platform. Solano also highlighted plans for an improved ApeFest and revamped Dookey Dash game, alongside continued innovations in the Bored Apes Yacht Club (BAYC)-exclusive Clubhouse virtual world.

• The Sandbox has launched a DAO to allow SAND token and LAND plot owners to vote on the game's future, starting with a proposed $11 million annual budget. The rollout will progress through three phases, gradually transferring full control to the community.

• Square Enix, maker of the ‘Final Fantasy’ game series, is shifting minting of NFT characters for its Symbiogenesis blockchain game to Ethereum Layer-2 network Arbitrum. The move follows the initial minting on Ethereum.

• Pixelmon's MON token airdrop has triggered a surge in NFT purchases. The game experienced a boost in daily transactions to $1.36 million and increased the project's market cap to $35.47 million. 

• Pudgy Penguins is collaborating with Mythical Games to launch a mobile game on the Polkadot-based Mythos Chain in 2025, leveraging the success of its retail toy sales and web-based game on Ethereum. This partnership aims to expand the Pudgy Penguins brand and attract new players to the Mythos network.

• Aptos recorded a massive spike in transactions due to a viral ; ‘tickle-to-earn’ cat Telegram game called Tapos, which logged over 115 million transactions on Saturday. The game incentivises users to tickle a digital cat to earn HEART tokens.

Recent Research Reports

• Expanding Ethereum’s Frontier: Restaking And EigenLayer’s Ecosystem (An Analysis of Restaking Dynamics): EigenLayer pioneers the ETH restaking narrative, pushing the liquid restaking market to grow to $8 billion TVL. This report delves into EigenLayer’s ecosystem, its restaking mechanism, and the newly launched EIGEN token.

• Tokenisation of RWAs & Yield-Bearing Stablecoins: RWA tokenisation signifies a bridge between TradFi and the digital asset space. We explore the tokenisation of securities and its application in yield-bearing stablecoins, which have both gained much attention recently.

• Alpha Navigator: Quest for Alpha [April 2024]: Asset classes were mostly down in April. Cryptocurrency led the drop. US fighting inflation while ECB signals potential rate cuts.

• What Is the Floki Meme Coin and How to Buy FLOKI: Explore Floki, a successful token that evolved from a simple meme coin to utility-rich cryptocurrency, renowned for its engaging community and charitable initiatives.

• 10 Most Popular Layer-1 Tokens of 2024: Layer-1 blockchains form the backbone of the cryptocurrency space. Here’s an overview of the most important Layer-1 crypto tokens to know in 2024.

• What Is the Theta Crypto Token and How Does It Work?: Theta Network has drawn big tech into the crypto space, with partnerships including Google, Samsung, and Sony. Here’s how the Theta crypto token (THETA) works.

We’re all ears.

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Authors

Research and Insights Team

Disclaimer

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