Weekly NFT & GameFi Update (Week 12, 18/03/2023 - 24/03/2023)
Cronos Labs releases new updates for Unreal Engine and C++ game developers. Sony files a patent for transferable NFTs. Immutable is partnering with Polygon for Web3 gaming.
New Project Spotlight
NFT Collectibles
[COMING SOON] ‘Fragments of the Future’ is a project by Alex Fernández, a photographer and cinematographer. This drop showcases a collection of surrealist photographs that attempt to show a dystopian future through visual elements and colours. The collection goes live on Crypto.com NFT on 27 March.
[COMING SOON] ‘TMK GEN 2’ is Luca De Massis’s second collection. Dropping on 31 March on Crypto.com NFT, it features inspiration from the 80s & 90s, such as the popular music and shared cultural experiences during those two periods.
Blockchain Games
[LIVE] Cronos Labs is participating in the Game Developers Conference (GDC) 2023 in San Francisco, California. The Cronos booth features merchandise giveaways from the company’s partners, including Loaded Lions and D.G.Pals.
[LIVE]CroSkull Adventure Season 4 has reached a total of 6,105 CroSkulls in the adventure, as well as 479 Pets Eggs minted. In addition, Croskull will be releasing the Eggs for Dragons of the Underworld in a future update.
NFT Metrics
The following table shows select top collections (by weekly sales volume on each platform) and a sample of their art:
Blockchain Game Metrics
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$10.26 billion, up +3% from last week.
News Highlights
Cronos Labs has released new updates for Unreal Engine and C++ game developers. These updates include the ability to connect to the Crypto.com DeFi Wallet and MetaMask, and Dynamic Contract support, which allows developers to interact with smart contracts on the fly.
Sony has filed a patent that would make NFTs transferable between different games and consoles. This would allow users of Sony products, such as its flagship PlayStation console, to have an interoperable Web3 gameplay experience.
Web3 gaming platform Immutable is partnering with Polygon to accelerate the development of Web3 gaming. Immutable plans to power its platform using Polygon’s zero-knowledge technology to simplify the process of onboarding game studios and developers in Web3.
Recent Research Reports
Research Roundup Newsletter [February 2023]: In this issue, we feature trending market insights and our analyses of the current state of the decentralised derivatives market.
Alpha Navigator: Quest for Alpha [February 2023]: Asset classes took a breather in February and sold off, although crypto bucked the trend. BTC and ETH options implied volatilities remain at subdued levels.
Overview of Decentralised Derivatives: Crypto derivatives dominate the industry, representing about 70% of the entire market. In this report, we shed light on derivatives in DeFi, their market overview, and some innovations in the space.
Disclaimer
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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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