Weekly NFT & GameFi Update (Week 38, 23/09/2022 - 29/09/2022)
Apple will allow apps to sell NFTs in its App Store. OpenSea added support for Optimism. PUBG creator announced new blockchain metaverse game.
We’re all ears.
Your feedback has always helped us provide insightful crypto market trends. Tell us how we can improve this newsletter further by taking a quick survey below (it will only take less than a minute). Thanks!
Apple will allow apps to sell NFTs on its App Store. Current app developers can sell NFTs and new apps can also incorporate NFTs within them. Apple will take a 30% cut of each transaction.
Leading NFT marketplace OpenSea added support for the layer-2 scaling solution Optimism on 28 September. OpenSea specifically onboarded popular Optimism-backed NFT projects, including Apetimism, Bored Town, MotorHeadz, and OptiChads.
PUBG creator Brendan Greene announced a new blockchain metaverse game. The new game is named Artemis, and will be a virtual metaverse with an AI population, where players can trade NFTs. PUBG is one of the most popular games on Steam with a devoted legion of fans.
X2Y2 recorded a -13% decrease in sales and a -15% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +23% and its transaction count also increased +31%.
The total market cap for GameFi tokens now stands at US$8.44 billion, down -4% from last week.
Crypto.com NFT in the Spotlight
Bandanaboi’s “PHAZES” is a collection of 100 unique digital artworks living on the Crypto.org Chain. Each artwork is related to an emotion that the artist was experiencing on a given day. Some pieces are fun, whereas others are introspective. The collection will be expanded in 3 seasons.
“Lords Of The Lands” is a decentralised metaverse of a futuristic medieval era, and the first metaverse to be available on the Web, iOS, Android, and virtual reality apps. It consists of 2,000 unique “Lord” NFTs that are virtual reality-ready avatars that can be coupled with a “LadyLord” to breed a GenX LOL.
NFT Transaction Benchmark
Magic Eden data refer to the on-chain activity of the tracked smart contracts.
Magic Eden, X2Y2, NBA Top Shot, and Solanart data are retrieved from DappRadar.
1. Year-to-Date (YTD) volume is calculated from the first day of the current year to the current date.
2. Week-on-Week (WoW) % change is calculated based on the differences between two subsequent seven-day periods.
3. Transaction count and average price refer to the number of traders and average price over the past seven days, respectively.
4. LooksRare was launched on 10 January 2022.
5. X2Y2 was launched on 16 February 2022.
6. A significant percentage of the transaction volume on LooksRare/X2Y2 could be from wash trading.
The following chart shows select top NFTs and their historical floor prices:
The following information shows selected top artists (by sales volume on each platform) and a sample of their art.
Platform: Crypto.com NFT
Sales Volume (USD): $273,000
Artist: Cronos Cruisers
Sales Volume (USD): $119,000
Platform: Magic Eden
Artist: Critters Cult
Sales Volume (USD): $3,405,000
Sales Volume (USD): $9,949,000
GameFi Top Gainers & Losers
*Gaming Infrastructure tokens: ENJ, FLOW, WAXP, UOS, MBOX, DAWN, GALA, IMX
*Gaming Utility tokens: AXS, MANA, SAND, ALICE, ILV, ATLAS, POLIS, GODS, GMT, DAR, AURY, APE, PYR
*Gaming Guild tokens: YGG, MC, UNIX, GGG, AGV
Top Games Metrics
* Week-on-Week (WoW) % change is calculated based on the differences between two consecutive seven-day periods
* Users refer to the number of unique wallet addresses interacting with the dApp's smart contracts
* Weekly Volume refers to the total amount of incoming value to the dApp's smart contracts during the seven-day period
* Weekly Transactions refer to the no. of transactions made on the dApp’s smart contracts during the seven-day period
* Stickiness refers to the ratio of daily active users (DAU) to monthly active users (MAU). A high stickiness means users consistently return to the dApp.
* Weekly volume using Splinterlands data is approx US$808K.
* Alien Worlds, Splinterlands, MOBOX, Sunflower Land, Pegaxy, SecondLive, Axie Infinity, DeFi Kingdoms data
* STEPN data from Dune Analytics
Daily Gamers by Blockchain
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.
This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement.
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.
Thank you for reading! We hope you find our Weekly NFT & GameFi Update enlightening!
Share with a friend if you like our email!
Thanks for reading Weekly Crypto News about DeFi, NFT, and crypto market! Subscribe for free to receive new posts and support my work.