NFT & Blockchain Gaming Weekly (27/10/2023)

Judge ruled RR/BAYC creators to pay over US$1.5 million in damages to Yuga Labs and transfer their smart contract. Decentraland introduces personalised metaverse identities, dubbed “Decentraland NAME”. Memeland launches its MEME token.

Oct 27, 2023
Crypto.com NFT and Gaming

Chart of the Week

A federal judge in California has ruled that conceptual artist Ryder Ripps and his business partner Jeremy Cahen must pay over US$1.5 million in damages to Bored Ape Yacht Club (BAYC) creator Yuga Labs. Ripps and Cahen are the duo behind the RR/BAYC NFT collection, which featured primates in similar poses as the Bored Apes. It also used marketing material similar to BAYC.

The judge determined that Ripps and Cahen’s copies of the Bored Ape NFTs,  which they claimed were appropriation art criticising Yuga Labs’s works, infringed on Yuga Labs’s intellectual property rights. The defendants were ordered to pay all of their profits from the copies to Yuga Labs, and transfer their NFT smart contract and project-related websites and social media accounts to the company.

Crypto.com RR/BAYC Market Cap and Volume

New Project Spotlight

NFT Collectibles

[LIVE] LIFE OF HEL

LIFE OF HEL’ represents the establishment of a new IP monetisation platform set to elevate the LOH saga as the next global-scale manga and anime series. The LOH manga series consists of seven volumes, which will be physically published by Kadokawa Gempak Starz (Q4-23). An animated series is also in the pipeline for release on OTT streaming platforms. The first PFP drop of the LOH series is ‘LIFE OF HEL – Reapers‘.

Crypto.com Life of Her

[UPCOMING] Planet IX: Limited Edition – Corporation Avatar Pack

‘Planet IX Corporation Packs’ can be burned in the player’s in-game inventory. Burning these packs will then unlock Avatars from the Corporation Genesis Collection, consisting of characters representing various corporations in the Planet IX universe. These Avatars will have different utilities in the game, and their full story can only be obtained through the in-game inventory. Collecting multiple characters will allow players to uncover mysteries within the Planet IX universe. The Avatars are AI-analysed and stored as NFTs on the blockchain.

Crypto.com Planet IX

NFT Metrics

PlatformCollection7D Sales Volume (USD)Floor Price
(USD)
OpenSeaBored Ape Yacht ClubBored Ape Yacht Club$24,303,065 (+52%)$48,924
OpenSeaMutant Ape Yacht ClubMutant Ape Yacht Club$9,948,831 (+78%)$9,317
Crypto.comImage2 CopyLoaded Lions$53,515 (+6%)$930
Crypto.comImage12 CopyLIFE OF HEL – Reapers$42,985 (-)$35
MintedImage1 CopyCronos Cruisers$11,110 (+2,052%)$493
MintedVVS Miner MoleVVS Miner Mole$7,456 (+58%)$132
PlatformOpenSea
Bored Ape Yacht Club
CollectionBored Ape Yacht Club
7D Sales Volume (USD)$24,303,065 (+52%)
Floor Price
(USD)
$48,924
PlatformOpenSea
Mutant Ape Yacht Club
CollectionMutant Ape Yacht Club
7D Sales Volume (USD)$9,948,831 (+78%)
Floor Price
(USD)
$9,317
PlatformCrypto.com
Image2 Copy
CollectionLoaded Lions
7D Sales Volume (USD)$53,515 (+6%)
Floor Price
(USD)
$930
PlatformCrypto.com
Image12 Copy
CollectionLIFE OF HEL – Reapers
7D Sales Volume (USD)$42,985 (-)
Floor Price
(USD)
$35
PlatformMinted
Image1 Copy
CollectionCronos Cruisers
7D Sales Volume (USD)$11,110 (+2,052%)
Floor Price
(USD)
$493
PlatformMinted
VVS Miner Mole
CollectionVVS Miner Mole
7D Sales Volume (USD)$7,456 (+58%)
Floor Price
(USD)
$132
As of 26 Oct 2023
Sources: OpenSea, Minted, Crypto.com Research

Blockchain Game Metrics

The following table shows selected top games by weekly volume in USD:

GameBlockchain(s)7D Volume (USD)7D UAW
Loaded Lions Mane CityLoaded Lions: Mane CityCronos$21,523 (-29%)3,166 (+7%)
Treasure DAOTreasure DAOEthereum, Arbitrum$6,108,455 (+88%)1,532 (+12%)
Axie InfinityAxie InfinityEthereum, Ronin$5,725,617 (+94%)32,419 (+12%)
Gods UnchainedGods UnchainedEthereum, Immutable X$5,077,881 (+15%)4,840 (+28%)
Image13 Copy 1Galactic ArenaBNB Chain$1,246,484 (+1,216%)22 (-4%)
Image9 3HYTOPIAEthereum, Polygon$1,072,369 (+419%)308 (+12%)
Loaded Lions Mane City
GameLoaded Lions: Mane City
Blockchain(s)Cronos
7D Volume (USD)$21,523 (-29%)
7D UAW3,166 (+7%)
Treasure DAO
GameTreasure DAO
Blockchain(s)Ethereum, Arbitrum
7D Volume (USD)$6,108,455 (+88%)
7D UAW1,532 (+12%)
Axie Infinity
GameAxie Infinity
Blockchain(s)Ethereum, Ronin
7D Volume (USD)$5,725,617 (+94%)
7D UAW32,419 (+12%)
Gods Unchained
GameGods Unchained
Blockchain(s)Ethereum, Immutable X
7D Volume (USD)$5,077,881 (+15%)
7D UAW4,840 (+28%)
Image13 Copy 1
GameGalactic Arena
Blockchain(s)BNB Chain
7D Volume (USD)$1,246,484 (+1,216%)
7D UAW22 (-4%)
Image9 3
GameHYTOPIA
Blockchain(s)Ethereum, Polygon
7D Volume (USD)$1,072,369 (+419%)
7D UAW308 (+12%)
As of 26 Oct 2023
Sources: Crypto.com Research, DappRadar

Gaming Token Performance

The total market cap for gaming tokens now stands at US$9.74 billion, surging by +20.2% from last week.

Crypto.com Gaming Top Gainers and Losers

News Highlights

  • Decentraland introduced personalised metaverse identities called Decentraland NAME, allowing users to claim unique names, access virtual spaces, and participate in platform governance.
  • Memeland, a Web3 project built by 9GAG’s team, launched its MEME coin with a successful Fire Sale, selling out in 40 minutes and making $10 million in the first hour. The token has a total supply of 69 billion MEME and will be gradually unlocked over 18 months. Allowlist allocations are based on NFT holdings, and crews receive additional benefits. MEME is described as a meme coin with no promises or financial return.
  • Async Art, a creator platform known for its pioneering role in the Web3 community, has announced its forthcoming closure. The platform allowed artists to create dynamic, multi-layered digital art that could change over time. However, the NFT space has evolved, leading to operational challenges and a shift in industry motivations. Existing Async NFTs will continue to exist on-chain, but the marketplace will stop supporting purchases by the end of 2023.
  • ApeCoinDAO‘s Ape Improvement Proposal 337, which aimed to halve the monthly compensation of special council members, was rejected in a close vote. The justification for the proposal was to reduce the DAO’s monthly financial outlay and increase overall participation. The proposal arose amid criticism of the Special Council due to a drop in ApeCoin’s price and a controversial funding authorisation in July. Community members expressed different opinions, with some advocating for targeted incentives and performance bonuses instead of blanket salary cuts.

Recent Research Reports


Recent University Articles

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We’re all ears.

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Authors

Research and Insights Team

Disclaimer

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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