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Weekly NFT & GameFi Update (Week 31, 29/07/2023 - 04/08/2023)
Crypto.com releases a ‘Spot the Difference’ game with NFT prizes. Yuga Labs acquires metaverse startup Roar Studios. Starbucks Odyssey launches its eighth NFT collection, ‘Green Apron’.
Chart of the Week
The number of Ordinal inscriptions minted on the Bitcoin blockchain recently surpassed the 20 million milestone. The Bitcoin Ordinals team has created a non-profit organisation to support the development of its protocol named the Open Ordinals Institute, which will enable the team to accept tax-deductible donations. The Ordinals team also launched Ordinals.org, a platform for posting community updates and other Ordinals-related resources.
New Project Spotlight
[COMING SOON] ‘The Jellyfishes Places: An Experience’ is a project by Tony Lopez, a 3D artist and videographer. Dropping on 7 August on Crypto.com NFT, it features eight immersive audiovisual NFTs of places where the viewer can be surrounded by floating jellyfish.
[COMING SOON] ‘Lil Bitcoin Chapter 3: The Road Home’ is a collection by Lil Bitcoin, a decentralised avatar rapper created by record producer Mitch Mula and visual artist TillaVision. This drop consists of four NFTs, including the highly coveted Chapter 3 physical comic book. The collection goes live on Crypto.com NFT on 9 August.
[LIVE] Cronos is participating in the Seoul Web3 Festival, with its booth featuring various games on its blockchain, such as Loaded Lions: Mane City, MarbleVerse, Eyeball Games, and D.G. Pals.
[LIVE] Eyeball Games has unveiled its latest Phase 2 cue stick attributes. The five new attributes are aim, power, spin, efficiency, and health. Eyeball Games has also joined Immutable as a partner and released new Balldroid fan art.
The following table shows select top collections (by weekly sales volume on each platform) and a sample of their art:
The following table shows select top games by weekly Unique Active Wallets (UAW):
Gaming Token Performance
The total market cap for gaming tokens now stands at US$9.96 billion, down -1% from last week.
Crypto.com released a ‘Spot the Difference’ game, where participants stand to win a ‘Crypto.com Expedition Gear’ NFT. Players must correctly identify the number of differences between two images in the Mane City game. To participate, users need to retweet the campaign tweet and register by 8 August 2023.
Yuga Labs announced its acquisition of the metaverse startup, Roar Studios, which specialises in creative content creation and social connections. With this move, Yuga Labs aims to accelerate the development of its Otherside metaverse, while creating new opportunities for communities to connect and express themselves.
Starbucks Odyssey, the Web3 loyalty and rewards programme of the global coffee chain, is launching its eighth NFT collection titled ‘Green Apron'. The collection comprises 5,000 NFTs of artwork featuring the original Pike Place apron, Siren apron, and more. Each NFT is priced at US$100.
PROOF unveiled its latest NFT collection named ‘Grails IV’. Previous Grails collections consisted of work by renowned artists like Tyler Hobbs, Snowfro, and Larva Labs. The artists behind the latest collection will be revealed during the live event launch in Los Angeles on 11 August, where art lovers can admire the creations at an in-person exhibition.
Japanese gaming giant Bandai Namco launched an AI virtual pet NFT game on the Oasys blockchain. The game features a series of NFT-based digital creatures known as ‘RYU’. Similar to the classic Tamagotchi virtual pet game, RYU can develop unique personalities and abilities based on user engagement.
Recent Research Reports
Alpha Navigator: Quest for Alpha [July 2023]: Risk assets continued their positive price action in July, although BTC dipped slightly. Macro calendar is quiet up until mid-August where we have the US CPI and release of FOMC minutes.
Crypto Market Sizing Report H1 2023: Global crypto owners reached 516 million by the first half of 2023
Research Roundup Newsletter [June 2023]: We present to you our latest issue of Research Roundup, featuring trending market insights in June, charts of the month, and our latest research exploring ZK rollups and Layer-0 protocols.
The Development of ZK Rollups: Zero-knowledge rollups (ZK rollups) are still in their nascent stage. However, as the technology evolves, various methods to achieve compatibility with the Ethereum Virtual Machine (EVM) have emerged.
Layer-0: Infrastructure for Customised Blockchains: Layer-0 protocols are the infrastructure that customised Layer-1 blockchains can be built on. We explore notable projects like Cosmos, Polkadot, Avalanche, LayerZero, and zkLink.
Recent University Articles
Top Gaming Tokens to Know in 2023: Get to know some of the top crypto gaming tokens of 2023 — their unique features and potential for growth in the ever-evolving world of crypto.
What Is WorldCoin? The New Digital Identity Token: Delve into the workings of Worldcoin (WLD), an ambitious digital identity token co-founded by the CEO of OpenAI.
Top Crypto Utility Tokens to Know in 2023: In this guide, we explore the top crypto utility tokens in 2023, delving into their unique use cases and potential growth in the market.
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