Quick Take

• Crypto.com and Hamster Kombat partnered to launch a new payment card that can be used both in the game and real world.

• CryptoPunks led the NFT market’s resurgence along with other blue-chip Ethereum NFTs.

• Top Crypto.com NFT Drops: The Tactical Gear Depot, Navigators and Explorers, NeuroSynth: A Quantum Cyber Odyssey, and AI-Themed Premium Onchain Domain Drop

• Notable News: Stepn Go launched G-Shock NFT sneakers; Magic Eden announced its native token, ME; Aavegotchi’s developers announced a new Ethereum Layer-3 (L3) gaming blockchain.

Chart of the Week

CryptoPunks, the leading profile picture (PFP) NFT collection, saw a remarkable resurgence, with its floor price rising 28% week-over-week (27.58 ETH at the time of writing) following a low of 21 ETH. It recorded over US$3.6 million in total volume on 21 August and the unique owner count grew by 40% to reach 3,980, indicating new buyers are entering the market. 

Other blue-chip NFTs on Ethereum also experienced gains. Pudgy Penguins, Bored Ape Yacht Club, and Milady Maker saw ETH floor price increases of 14.9%, 6.6%, and 6.5%, respectively, over the last seven days. The upward trend appears to be driven by community sentiment and market momentum.

New Projects Spotlight

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 $19.51 billion, increasing by +4.67% from last week.

News Highlights

• Crypto.com and Hamster Kombat partnered to launch a new payment card aimed at enhancing payment flexibility for users. This card can be used both within the Hamster Kombat game and for real-world transactions. Users can increase their in-game earnings by using the card and receive a Crypto.com Visa Card for everyday purchases.

• Stepn Go, a spin-off of Stepn, launched G-Shock NFT sneakers. The sneakers will be launched through a raffle mint event on MOOAR marketplace from 26 to 29 August. They will enable users to earn real-world rewards through physical activity. 

• NFT marketplace Magic Eden announced its native token, ME. This token will serve as an ecosystem incentive as the platform expands into mobile consumer dapps. The token rollout includes a presumed airdrop for users, although details on the airdrop and its tokenomics are still pending.

• Pixelcraft Studios,the developer behind Aavegotchi, announced Geist, a new Ethereum L3 gaming blockchain built to support gaming applications. The L3 adopts a members-only model, in which only invited users can have access to the rewards programme. It is also integrated into the Aavegotchi ecosystem as the main blockchain.

Recent Research Reports

• Research Roundup Newsletter [July 2024]: We present to you our latest issue of Research Roundup, featuring our deep dives into the latest crypto market sizing findings, Layer-2 interoperability, and Web3 socials.

• Alpha Navigator: Quest for Alpha [July 2024]: Cryptocurrencies showed mixed performance in July; Fixed Income was up while Equities were down. The US and EU maintained interest rates, the UK cut rates, and Japan hiked rates for the second time since 2007.

• Crypto Market Sizing Report H1 2024: Global crypto owners reached 617 million by the first half of 2024.

Interested to know more? Access exclusive reports by signing up as a Private member, joining our Crypto.com Exchange VIP Programme, or collecting a Loaded Lions NFT.

Recent University Articles

• What Is Solana (SOL)?: One of the top market cap cryptocurrencies, Solana (SOL) is a high-performance blockchain platform known for its scalability, speed, and low transaction costs. Learn all the fundamentals here.

• What Is Cryptocurrency? A Comprehensive Guide for Beginners: Cryptocurrency is defined as digital currency based on blockchain technology and secured by cryptography. Here’s everything to know for beginners.

• What Is a Short Squeeze and How Does It Affect Bitcoin?: Short squeezes happen when a heavily shorted asset climbs in price. Here’s how they play out for Bitcoin and other cryptocurrencies.

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Authors

Research and Insights Team

Disclaimer

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