New Project Spotlight
[COMING SOON] ‘SENSES’ is a project by VESA, an award-winning digital art pioneer. Dropping on 15 May on Crypto.com NFT, it explores courage through artistic expression, and was also featured during Art Dubai, a leading art fair in the Middle East.
[COMING SOON] ‘Cryptonauts’ is a collection by digital artist Fran Rodriguez. This drop features Cryptonauts, who are explorers of the metaverse and citizens of the Cronos Chain. This collection goes live on Crypto.com NFT on 19 May.
[LIVE] Eyeball Games and Boomer Squad are jointly organising a tournament that will run until 16 May. Players are able to access the game by holding a Boomer Squad NFT, and there will be prizes for the top 3 players in the leaderboard for this season.
[COMING SOON] Croskull will be launching its ordinal collection ‘bitCroSkull’ on 18 May. The bitCroSkulls will be distributed in a single limited series of 333 pieces. Of these, 66 will be unique pieces with exclusive features, while the others will have randomised traits.
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 |
|OpenSea||Mutant Ape Yacht Club||$21,456,000|
|Crypto.com NFT||Loaded Lions||$102,100|
|Crypto.com NFT||Crypto.com Land – The First Frontier||$56,700|
|Minted||VVS Miner Mole||$5,800|
|Minted||Mutant Aiko Beanz||$5,800|
Blockchain Game Metrics
The following table shows select top games by weekly Unique Active Wallets (UAW):
|Axie Infinity||Ronin, Ethereum||32K|
Gaming Token Performance
The total market cap for gaming tokens now stands at US$10.48 billion, down -16% from last week.
- On 10 May, Elon Musk tweeted a meme created using imagery from the ‘Milady’ NFT collection. The image in the tweet reads, ‘There is no meme. I love you.’ Shortly after Musk’s tweet, the floor price of ‘Milady’ NFTs spiked from 3.8 ETH to as high as 7.3 ETH.
- The total market capitalisation of BRC-20 Bitcoin tokens recently surpassed $1 billion. BRC-20 tokens are an experimental token standard for the Bitcoin blockchain. Inspired by Ethereum’s ERC-20, BRC-20 enables developers to create and transfer fungible tokens using the Ordinals protocol.
- The government of Türkiye has officially launched a virtual office in the metaverse. The metaverse office is one of the first steps in the Communications Directorate’s digital transformation campaign, and it will be accessible via mobile devices from all around the world.
- Sui Network has seen NFT collections completely sell out since its mainnet launch on 3 May. One of the debut NFT collections was ‘Fuddies’, which saw almost $800,000 in secondary trading in just 24 hours, exceeding the sales on the entire Polygon network.
- Kyushu Railway Company (JR Kyushu), part of Japan’s largest rail network Japan Railway Group, plans to release NFTs on the Japanese L1 blockchain Astar Network. These NFTs will enable the company to create new touch points with its users and enhance its existing relationship with its customers.
Recent Research Reports
- Monthly Research Roundup (April 2023): In this issue, we feature trending market insights, and our latest research reports take a closer look into Bitcoin’s expanding ecosystem, specifically Layer 2s, DeFi, and NFTs.
- Alpha Navigator: Quest for Alpha [April 2023]: Asset classes were generally flat in April, with cryptocurrency outperforming other assets. The US Federal Reserve could be on the cusp of ending its interest rate hike cycle.
- Bitcoin’s Expanding Ecosystem: Layer-2, DeFi, NFT: The landscape of the latest projects building on top of Bitcoin is expanding beyond payments. It now includes Layer-2 scaling solutions and key application categories like DeFi and NFTs.
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). Thank you!
Research and Insights Team
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.
Get fresh market updates delivered straight to your inbox:
Be the first to hear about new insights: