NFT & Blockchain Gaming Weekly (12/01/2024)

Azuki will produce an anime anthology series. OpenSea launches an email-based wallet setup. Visa launches a Web3 Loyalty Engagement Solution.

Chart of the Week

Chiru Labs, the company behind Azuki and Beanz, partnered with director Gorō Taniguchi to produce an anime anthology series aimed at broadening anime’s reach and offering new opportunities for creators. The series will include three stories, enhancing Azuki’s IP, and is set for release later this year. Azuki also reported a possible collaboration with the Weeb3 Foundation, an organisation dedicated to anime and manga culture.Azuki and Beanz NFT sales surged during the hype, with volume growing by 18% and 1,374% week-over-week, respectively.

New Project Spotlight

NFT Collectibles

[Live] Boomer Squad: Arcade Game Pass

Boomer Squad is a leading project on the Cronos network consisting of on-chain games, curated NFT collections, immersive events, and innovative protocols. Its team is passionate about pushing the boundaries of what’s possible with NFTs and leveraging crypto and Web3 for education, storytelling, and gaming.

‘Boomer Squad: Arcade Game Pass’ lets collectors unlock in-game tokens, wallet benefits for upcoming and existing games, exclusive merchandise, and much more. Holders simply need to connect their NFT on the boomersquad.io website to dive into this dynamic ecosystem.

[Upcoming] Legends of Tank NFT Drop

BattleCity is the creator of Legends of Tanks, an immersive game with a thrilling blend of combat and strategy that’s inspired by the beloved decades-old title, Tank 1990. 

‘Legends of Tank NFT Drop’ features 2,886 Mystery Boxes that can be used to claim three distinct in-game utility items. These NFTs enable players to earn rewards and get access to a series of celebratory events in anticipation of the official game launch.

NFT Metrics

Blockchain Game Metrics

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 $21.31 billion, grew by +11.86% from last week.

News Highlights

• OpenSea introduced a new feature that simplifies the process of wallet creation and NFT access. Users can now set up a self-custodial wallet with their email address, eliminating the need for complex steps like setting up a traditional crypto wallet. This initiative uses technology from Privy and allows users to manage their NFTs and crypto directly on OpenSea’s platform. The self-custodial wallet supports nine EVM-based chains, including Ethereum and Polygon.
• Visa launched a Web3 Loyalty Engagement Solution in partnership with SmartMedia Technologies to modernise loyalty programs using digital collectibles and Web3 wallets. This platform aims to offer more engaging customer experiences and new forms of value for loyalty points that are secure and transferable. Businesses can create personalised Web3 experiences and rewards, with the potential for better customer retention and improved business results.
• Axie Infinity capped the supply of its reward token, Smooth Love Potion (SLP), at 44 billion. This cap aims to stabilise the token’s economy through adjusted in-game rewards. The game’s developers also created a stability fund to maintain SLP’s value, adding to the fund whenever SLP is burned. A new game mode, Premium Cursed Coliseum, has been introduced, with entry fees partly used to support the fund. 
• Yuga Labs released a new trailer for the third playtest of its metaverse project, Otherside, set for release in February. The trailer received mixed reactions because of concerns about its low frame rate, suggesting potential performance issues. Some community members voiced the need for improved communication from Yuga Labs regarding the project’s future.
• Elon Musk’s social media platform X (formerly Twitter) has quietly removed the ability for paid Twitter Blue subscribers to use NFTs as their profile picture. While existing NFT profile pictures are still visible, it’s unclear if X will phase them out in the future. This change is part of Musk’s 2024 initiatives for the platform, which focus on peer-to-peer payments and advanced AI tools.

Recent Research Reports

• Exploring the Future of Blockchain Gaming: Trends and Opportunities: A comprehensive review of the blockchain gaming industry, the state of the gaming market, current challenges and opportunities, and what lies ahead for on-chain games.
• Research Roundup Newsletter [November 2023]: We present to you our latest issue of Research Roundup, featuring trending market insights in November, charts of the month, and our exploration of new developments within the Bitcoin ecosystem.
• 2023 Year Review & 2024 Year Ahead: 2023 has been an eventful year for the crypto industry. In this report, we curate the top crypto events and trends of 2023, followed by our outlook for 2024.

Recent University Articles

• What Is Nakamoto Consensus? The Mechanism That Powers Bitcoin: Learn about the original blockchain consensus mechanism, the Nakamoto Consensus, that still powers Bitcoin today.
• On-Chain vs Off-Chain Cryptocurrency Transactions: What Is the Difference?: Learn the difference between on-chain and off-chain cryptocurrency transactions and how they work on the blockchain.
• Bitcoin Halving 2024: What to Know: In this article, learn the dynamics of Bitcoin halving — what previous events have shown, and what future ones may involve.

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Authors

Research and Insights Team

Disclaimer

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