Chart of the Week
The floor price of blue-chip NFT collection ‘Azuki’ was down more than 60% in the past week after its Elementals collection mint. The mint appeared to be successful, and the collection sold out in 15 minutes, earning US$38 million worth of ETH. However, the hectic minting process, release of identical art to the original collection, and lack of innovation in the roadmap sparked a backlash from the community. Mass selloffs of other Azuki collections soon followed.
New Project Spotlight
NFT Collectibles
[COMING SOON] ‘Aliens in Cyberspace’ is a project by Nibera, an interdisciplinary visual artist. Dropping on 10 July on Crypto.com NFT, it features the virtual world of Cyberspace, which faces the threat of invasion from an unknown species of aliens.
[COMING SOON] ‘Anatomy of Emotions’ is a collection by Igor Martins, a multidisciplinary artist and the founder of a motion and VFX studio. This drop explores the contrast between emotions we reveal to others and the ones we feel. The collection goes live on Crypto.com NFT on 14 July.
Blockchain Games
[LIVE] The Cronos ecosystem update for July 2023 features various games across multiple genres that can now be played on Cronos, including D.G.Pals, Eyeball Games, Marble Verse, and Bored Candy City.
[LIVE] CroskullAdventure Season 5 has reached 6,036 Croskulls, a 3% burned GRVE index, and 177 pet eggs minted. In addition, Croskull has partnered with Boring Security, a project that aims to keep the NFT and crypto community safe by providing classes and informative articles.
NFT Metrics
The following table shows select top collections (by weekly sales volume on each platform) and a sample of their art:
| Platform | Collection | Sales Volume (USD) | Floor Price (USD) | Sample |
|---|---|---|---|---|
| OpenSea | Bored Ape Yacht Club | $33,300,000 (-10%) | $57,400 |  |
| OpenSea | Azuki | $29,600,000 (-46%) | $12,500 |  |
| Crypto.com NFT | Loaded Lions | $33,500 (-28%) | $1,300 |  |
| Crypto.com NFT | Crypto.com Expedition Gear | $17,200 (+12%) | $9 |  |
| Minted | Cronos Cruisers | $12,100 (—) | $450 |  |
| Minted | Atlantis Spaceships | $11,000 (+44%) | $30 |  |
| Platform | OpenSea |
|---|---|
| Collection | Bored Ape Yacht Club |
| Sales Volume (USD) | $33,300,000 (-10%) |
| Floor Price (USD) | $57,400 |
| Sample | |
| Platform | OpenSea |
| Collection | Azuki |
| Sales Volume (USD) | $29,600,000 (-46%) |
| Floor Price (USD) | $12,500 |
| Sample | |
| Platform | Crypto.com NFT |
| Collection | Loaded Lions |
| Sales Volume (USD) | $33,500 (-28%) |
| Floor Price (USD) | $1,300 |
| Sample | |
| Platform | Crypto.com NFT |
| Collection | Crypto.com Expedition Gear |
| Sales Volume (USD) | $17,200 (+12%) |
| Floor Price (USD) | $9 |
| Sample | |
| Platform | Minted |
| Collection | Cronos Cruisers |
| Sales Volume (USD) | $12,100 (—) |
| Floor Price (USD) | $450 |
| Sample | |
| Platform | Minted |
| Collection | Atlantis Spaceships |
| Sales Volume (USD) | $11,000 (+44%) |
| Floor Price (USD) | $30 |
| Sample | |
Blockchain Game Metrics
The following table shows select top games by weekly Unique Active Wallets (UAW):
| Game | Blockchain(s) | UAW | Volume | Logo |
|---|---|---|---|---|
| Splinterlands | Hive, WAX | 114K (+30%) | $0.7K |  |
| Hippo Dash by Gameta | BNB Chain | 97K (+1%) | $0.4K |  |
| Carrom Blitz | Flow | 93K (+75%) | $10K |  |
| Iskra | Klaytn, Ethereum | 79K (-71%) | $64K |  |
| DeFi Kingdoms | Harmony, Avalanche | 75K (+11%) | $1.1M |  |
| Game | Splinterlands |
|---|---|
| Blockchain(s) | Hive, WAX |
| UAW | 114K (+30%) |
| Volume | $0.7K |
| Logo | |
| Game | Hippo Dash by Gameta |
| Blockchain(s) | BNB Chain |
| UAW | 97K (+1%) |
| Volume | $0.4K |
| Logo | |
| Game | Carrom Blitz |
| Blockchain(s) | Flow |
| UAW | 93K (+75%) |
| Volume | $10K |
| Logo | |
| Game | Iskra |
| Blockchain(s) | Klaytn, Ethereum |
| UAW | 79K (-71%) |
| Volume | $64K |
| Logo | |
| Game | DeFi Kingdoms |
| Blockchain(s) | Harmony, Avalanche |
| UAW | 75K (+11%) |
| Volume | $1.1M |
| Logo | |
Gaming Token Performance
The total market cap for gaming tokens now stands at US$9.5 billion, down -0.5% from last week.
News Highlights
- Yuga Labs has released its latest game experience, HV-MTL Forge, which blends Tamagotchi-style pet care with world-building and social strategy. Currently, only holders of HV-MTL NFTs are able to fully experience the browser-based game; however, they can delegate their NFTs to another Ethereum wallet to allow a friend to play.
- Credit Suisse is partnering with the Swiss Football Association (SFA) to release an NFT collection set to launch on 11 July. The collection comprises 756 NFTs on the Ethereum blockchain that feature talented female football players from SFA.
- French fashion house Dior has announced a line of men’s sneakers with “digital twins”. Each pair of shoes costs $1,350 and will be linked to a corresponding NFT minted on the Ethereum blockchain.
- Apparel giant Lacoste has introduced an interactive Web3 experience where fashion NFTs can be turned into digital cards. Users can complete game missions and receive points, increasing the rarity of their cards in the process.
Recent Research Reports
 |  |  |
| The Development of ZK Rollups: Zero-knowledge rollups (ZK rollups) are still in their nascent stage. However, as the technology evolves, various methods to achieve compatibility with the Ethereum Virtual Machine (EVM) have emerged. | Layer-0: Infrastructure for Customised Blockchains: Layer-0 protocols are the infrastructure that customised Layer-1 blockchains can be built on. We explore notable projects like Cosmos, Polkadot, Avalanche, LayerZero, and zkLink. | Alpha Navigator: Quest for Alpha [June 2023]: Asset classes finished the first half of 2023 strongly, with crypto in the lead. Decelerating US inflation readings could ease market concerns for the time being, while BTC options implied volatilities remain muted. |
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| The Development of ZK Rollups: Zero-knowledge rollups (ZK rollups) are still in their nascent stage. However, as the technology evolves, various methods to achieve compatibility with the Ethereum Virtual Machine (EVM) have emerged. | |
| Layer-0: Infrastructure for Customised Blockchains: Layer-0 protocols are the infrastructure that customised Layer-1 blockchains can be built on. We explore notable projects like Cosmos, Polkadot, Avalanche, LayerZero, and zkLink. | |
| Alpha Navigator: Quest for Alpha [June 2023]: Asset classes finished the first half of 2023 strongly, with crypto in the lead. Decelerating US inflation readings could ease market concerns for the time being, while BTC options implied volatilities remain muted. |
Recent University Articles
 |  |  |
| What Is Sharding? Sharding can improve transaction speed and scalability. Learn what the term means and how sharding works. | Bitcoin Scalability: Challenges and Solutions: This article explores the various challenges associated with Bitcoin’s scalability problem, with potential solutions while maintaining network security. | Cryptocurrency Futures and Derivatives: A Growing Market: Explore the rapidly expanding world of crypto futures and derivatives, and learn about their impact on the digital asset market. |
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| What Is Sharding? Sharding can improve transaction speed and scalability. Learn what the term means and how sharding works. | |
| Bitcoin Scalability: Challenges and Solutions: This article explores the various challenges associated with Bitcoin’s scalability problem, with potential solutions while maintaining network security. | |
| Cryptocurrency Futures and Derivatives: A Growing Market: Explore the rapidly expanding world of crypto futures and derivatives, and learn about their impact on the digital asset market. |
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Authors
Research and Insights Team
Disclaimer
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