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Weekly NFT & GameFi Update (Week 37, 09/09/2023 - 15/09/2023)
Meta partnered with universities to launch a VR educational program. OnChainMonkey migrated its OCM Genesis NFT collection from Ethereum to Bitcoin. Milady NFT suffered an exploit.
Chart of the Week
The team behind Milady Maker NFT announced that the project has suffered an exploit in which a developer in the Milady ecosystem diverted about US$1 million in generated fees from Remilia Corporation. After the news, the collection suffered significant selling pressure, with the floor price plummeting by more than 35%.
New Project Spotlight
[LIVE] ‘Sand Lions’ is SANDBANG’s new collection featuring unique 5,000 PFP NFTs created using sand. Holders can enjoy exclusive perks, including custom sand art, NFT airdrops, and merchandise. The collection went live on Crypto.com NFT on 13 September.
[COMING SOON] ‘LOFI Pods Mystery Box NFT‘ features utility-driven NFTs designed for LOFI EQ, an app that enables live stream fans to monetise their watch time. It was created by lofi_buzz, a team of tech experts from AWS, Samsung, and leading startups.
[LIVE] Loaded Lions: Mane City has released new playbook updates, which include additional sections detailing in-game parameters. A full tutorial for Loaded Lions: Mane City is available on YouTube, and you can also join its Discord Server for all the latest news, updates, and help guides.
[LIVE] Ballies announced it will be ending its Beta testing phase soon, and its official launch on iOS and Android will be coming in the next two weeks.
The following table shows select top collections (by weekly sales volume on each platform):
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 US$7.97 billion, dropped by -4.8% from last week.
Meta has partnered with 15 universities in the US to launch a programme that aims to transform education using metaverse technologies like virtual and augmented reality. It will also launch dedicated education shelves in the Meta Quest store.
OnChainMonkey creator Metagood has migrated its OCM Genesis NFT collection from Ethereum to Bitcoin using RSK technology, which allows for the creation of smart contracts on the Bitcoin blockchain.
Animoca Brands, a Web3 gaming and investment firm, has raised $20 million for its Mocaverse project, which aims to create a decentralised virtual world where users can create on-chain identities and interact with each other. The recent funding round will be used to expand the Mocaverse project and develop new features.
The Securities and Exchange Commission (SEC) has charged Stoner Cats 2 LLC, the creator of the web series and NFT project Stoner Cats, with unregistered offering of NFTs. This marks the second major enforcement action by the SEC in the NFT space.
Recent Research Reports
Research Roundup Newsletter [August 2023]: We present to you our latest issue of Research Roundup, featuring trending market insights in August, charts of the month, and our latest research on decentralised stablecoins.
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.
Decentralised Stablecoins: Stablecoins are well positioned to facilitate broader adoption of cryptocurrencies. We explore the key decentralised stablecoin projects and their innovative mechanisms.
Recent University Articles
Crypto Romance Scams: What They Are and How to Avoid Them: Your new date is talking you into a hot, new crypto project? It could be a romance scam. Here’s how they work and how to recognise them.
What Is Cardano (ADA)?: In this article, learn about Cardano’s scalable, sustainable, and interoperable blockchain solution, as well as the features of its native token, ADA.
What Is PYUSD? PayPal’s New Stablecoin — and Where to Get It: PayPal has launched its cryptocurrency: the PYUSD stablecoin. In this article, learn about its uses and tokenomics and how to trade it.
The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.
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The brands and the logos appearing in this report are registered trademarks of their respective owners.
Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.
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