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Weekly NFT & GameFi Update (Week 36, 02/09/2023 - 08/09/2023)
Loaded Lions announced upcoming features for Mane City. Yuga Labs set to release its upcoming Otherside metaverse game. Google allows ads for blockchain-based NFT gaming.
Chart of the Week
Loaded Lions: Mane City, Crypto.com and Cronos's first-ever collaborative Web3 game, launched on 30 August. The game gained significant traction in the community, and the trading volume reached over US$372,000, surging by 238.32% from last week. It’s currently one of the top ten Web3 games by volume across all chains.
New Project Spotlight
[LIVE] ‘Mutant ROO’ is Rooit's new collection featuring 1,000 utility-enabled 3D NFTs. Holders can enjoy chat-to-earn capabilities, private club membership, participation in IRL events, early access to future drops, and more. The collection went live on Crypto.com NFT on 6 September.
[COMING SOON] Created by the seasoned sand artist SANDBANG, ‘Sand Lions’ is a collection containing unique 5,000 PFP collectibles created with sand. It tells the story of ancient lion warriors gathering to annihilate rampant evil and prepare for future wars.
[LIVE] Loaded Lions: Mane City, a tycoon-style game powered by Cronos, went live on 30 August. Each player is an entrepreneur with the goal of building and designing their dream city. Mane City became among the top ten Web3 games by volume across all chains this past week.
The following table shows select top collections (by weekly sales volume on each platform):
The following table shows select top games by weekly volume in USD:
Gaming Token Performance
The total market cap for gaming tokens now stands at US$8.37 billion, almost the same as last week.
Loaded Lions: Mane City announced upcoming features of the game, including the access pass system, avatar boost, UI improvements, and mansion optimisation.
Yuga Labs is set to launch the open beta for its upcoming game called Legends of the Mara. The game is part of the Otherside metaverse and is connected to the Bored Ape Yacht Club (BAYC) ecosystem. It allows players to own virtual land through their Otherdeed NFTs and explore an open-world game.
Starting from 15 September, Google will allow advertisements for blockchain-based NFT gaming. The updated policy will permit ads for NFT games that involve the purchase of in-game items, but ads promoting gambling with NFTs or real-world prizes will still be banned.
Krafton, the developer of PUBG, has unveiled Settlus, a blockchain project built on Cosmos SDK. Launching its testnet in early 2024, Settlus aims to enable USDC settlements within the PUBG ecosystem and will operate as a Layer-1 blockchain. Settlus is associated with Project Migaloo, a metaverse platform offering a ‘create-to-earn’ system for content creators.
Reddit has released a collection of NFT avatars representing all 32 NFL teams to celebrate the start of the football season. The digital collectibles can be used by fans to show support for their teams in online discussions and comment sections.
Producer Andreas ‘Axident’ Schuller is selling NFTs representing a percentage of future streaming royalties for Justin Bieber's song ‘Company’. Partnering with AnotherBlock, Schuller is offering 2,000 Ethereum-based NFTs, each representing a 1% share of the streaming royalty rights. NFT holders will receive a portion of streaming proceeds from platforms like Apple Music and Spotify.
Recent Research Reports
Decentralised Stablecoins: Stablecoins are well positioned to facilitate broader adoption of cryptocurrencies. We explore the key decentralised stablecoin projects and their innovative mechanisms.
Research Roundup Newsletter [August 2023]: We present to you our latest issue of Research Roundup, featuring trending market insights in July, charts of the month, and our latest research exploring real-world assets.
Alpha Navigator: Quest for Alpha [August 2023]: Asset classes dipped in August; BTC and ETH underperformed. No surprises from the central bankers summit at Jackson Hole. China intensifies economic stimulus.
Recent University Articles
What Is USD Coin (USDC)?: In this article, we explore Circle’s USDC, a leading stablecoin in the cryptocurrency market, diving into its tokenomics, backing, and utility.
What Is Tether (USDT)? Understanding the US Dollar Stablecoin: In this article, we explore what the Tether stablecoin is, how it works, and how to use it in cryptocurrency trading.
Crypto Remittance Scams: What They Are and How to Avoid Them: Sending crypto to receive crypto? That doesn’t sound right! In this article, learn about remittance scams and how to recognise them.
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