NFT & GameFi (Week 31, 05/08/2022 – 11/08/2022)

Meta integrates with Flow, rolling out Instagram’s NFT feature in 100 countries. Vitalik Buterin proposes a new privacy solution for NFT ownership. Axie Infinity looks to double down in South Korea.

Key Takeaways

• Minted, the multi-chain NFT platform across Cronos and Ethereum incubated by Cronos Labs, launched on Thursday. It also announced its partnership with Crypto.com NFT: Every collection launched on Crypto.com NFT and minted on Cronos will also be available for secondary trading on Minted.
• Tech conglomerate Meta integrates with Flow blockchain and rolls out its Instagram NFT support feature in 100 countries, allowing collectors to display their verified Flow-minted NFTs in the photo-sharing app. Following the announcement, FLOW token soared by almost 44%.
• Ethereum Co-founder Vitalik Buterin proposes in a tweet a new way to stealth addresses for anonymous NFT ownership and transactions. This was in response to Ethereum researcher Anton Wahrstätter’s fresh proposal, and suggests a “much lighter-weight” solution on how to hide the identities of NFT owners without the need for Merkle trees or zk-SNARKs.
• Axie Infinity plans to expand and “double down” in South Korea, a market the company considers to be one of its most important. Sky Mavis Co-founder Jeffrey Zerlin announced this during the recent Korean Blockchain Week event, and in spite of a major blanket ban on P2E games in the country in December 2021.
• X2Y2 recorded a -6% decrease in sales and a +129% increase in transactions. Meanwhile, OpenSea‘s sales were positive at +32%, and its transaction count also increased +27%.
• The total market cap for GameFi tokens now stands at US$10.83 billion, up +4.6% from last week.

Crypto.com NFT in the Spotlight

• Crypto.com NFT recently launched a new feature that lets users browse and buy LooksRare listings directly from the platform. On top of this, rarity scores were added for all Crypto.org Chain collections, and the platform is now also available in 17 languages. Visit the Crypto.com Blog for more updates. 
• “Kaiju Legends” is a colourful multiverse where art, story, toys, and gaming come together. Created by illustrator Jordy te Braak and game developer Roel Weber, it’s a community-driven NFT project that will feature a multiplayer P2E game, a native token, and exclusive toys and merchandise. The first wave is a collection of 7,777 algorithmically-generated collectibles with over 500 individual traits.
• Christian Whiticar’s new drop, “OKTṒPOUS”, is a fresh take on fine art. Using spellbinding loops, he tastefully captures the essence of the octopus. With an imaginative mind and years of work, Whiticar brings “OKTṒPOUS” to life, hypnotising the viewer. This will be the artist’s fourth drop in a series of sold-out collections in collaboration with Crypto.com.

NFT Highlights

• Okay Bears to airdrop NFTs attached with actual gold
• Fractional NFT markets slide 76% in value in 7 months, diced-up DOGE NFT still leads the pack
• ApeCoin deal with fashion giant Gucci boosts Bored Ape Yacht Club token APE
• Sudoswap, a decentralised NFT marketplace hit all-time high daily trade volumes yesterday at ~900 ETH
• reNFT partners with Unlockd to bridge tradFi with NFT rentals
• CryptoDickbutts Ethereum NFTs surge 690% in daily sales volume
• NFT global sales hit 2022 low in July, sinking more than $4 billion

GameFi Highlights

• Blockchain Games Report #6: Blockchain games are the least affected by the economic certainty
• STEPN launches GMT earning plans
• VisionsDao exits Stealth Mode and Presents a Modular Stack for GameFi
• Game on for Bybit-backed GameFi platform, Yeeha Games
• Polygon, Neowiz join forces to build new Web3 gaming platform Intella X

NFT Transaction Benchmark

The following chart shows selected top NFTs and their historical floor prices.

Top Collections

The following table shows select top artists (by sales volume on each platform) and a sample of their art.

GameFi Top Gainers & Losers

Top Games Metrics

Daily Gamers by Blockchain

Authors

Research and Insights Team

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