Hello everybody! Welcome back to the latest edition of the weekly PlayToEarn newsletter!

Thanks for your feedback on our new newsletter format last week. The general sentiment seems to be positive, though we will always try to improve on our content!

Speaking of which, we have a new poll up for you this week at the end of this newsletter, asking what information you’d like to see us cover. Give us your opinions!

Here are our topics for this week:

Top Trending games on PlayToEarn

Waves of Red: The Sea Was Angry that Day My Friends

In celebration of American Independence Day, crypto communities around the world were treated to a sea of red in their portfolios! The crypto markets saw a huge sell-off this past week as Bitcoin dropped below $60k, even going under $55k at one point! And of course, as goes Bitcoin, so goes everything else, usually to a greater degree! Most other tokens, including gaming tokens, are down 10-20% from last week.

Various news reports such as the start of repayments to those affected by the Mt Gox shutdown many years ago, and the German government moving over millions worth of BTC onto various exchanges, seemed to stir up quite a bit of FUD. The markets did bounce back a bit this weekend. Is this just a temporary correction, or are we in for a longer downturn?

But even if we have another dip, Bitcoin is still nearly double the price it was a year ago. And the long-term trend for Bitcoin remains bullish!

Tap, Tap, Tap: Click Games are Back

I never in a million years would have guessed that click miners would regain their popularity. And yet, here we are!

Though this time around the preferred terminology is ‘tap to earn’, and Telegram is the main source of these new, mostly mindless clicking games. With their own Ton blockchain and TON token, Telegram has certainly taken the crypto world by storm. Even already established developers such as Gala Games are getting in on the tap to earn frenzy!

Will this phenomenon last? Can tap to earn maintain a viable economy? Telegram seems to be going all-in on crypto adoption, even making it easier for users to play the tap games on their platform. So this will certainly be an interesting space to watch over the coming weeks and months!

SEC and Crypto: Will it ever end?

The SEC has been trying to stick their noses into every aspect of crpyto over the last few years — filing lawsuits, starting investigations, and generally just being a pain in the butt to crypto developers and services!

But in recent news, the SEC backed off a bit, at least in one case. The SEC decided to close their investigation into Consensys, the team behind the ever popular MetaMask extension. The SEC had been looking into them in regards to their ETH staking option, but ultimately decided that no enforcement action was necessary! But the legal battles aren’t over as Consensys has filed a lawsuit against the SEC, claiming that they made an ‘unlawful power grab!’

Whatever the outcome of this and any other legal actions in progress, it’s pretty clear that without any sort of overarching legal framework dealing with crypto, the waters regarding operating and using crypto in the US will remain muddy and subject to the whims of whoever is in charge at the moment.

Moving Money: Funding, Tokenomics, and other related stories from web3 gaming

Top News Stories in Web3 Gaming This Week

Need a break from the summer heat? How about staying inside instead to play and earn with a variety of new alphas and betas!

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