Quick Take
- Weekly Trend: The Pudgy Penguins NFT collection experienced a significant surge in value and activity. Its floor price rose by 57%, from 7.29 ETH on 19 June to 11.45 ETH currently, marking a 25% weekly increase.
- Top Crypto.com NFT Drops: The Tactical Gear Depot, Lucha Transformation: From Snacks to Six-Packs, Lucid Dreams.
- Notable NFT News: Notcoin launches Telegram Gaming Accelerator; Catizen sets Airdrop; Pixelverse launches PIXFI token; Nexon’s MapleStory N testnet goes live; SBI Holdings introduces ‘EXPO 2025 Digital Wallet’ project.
Chart of the Week
The Pudgy Penguins NFT collection experienced a significant surge in value and activity, spurred by Pudgy Penguins and OverpassIP forming the parent company, Igloo Inc. Igloo also acquired Frame, an Ethereum-based rollup network focused on NFT creation, trading, and management. The collection’s floor price rose by 57%, from 7.29 ETH on 19 June 2024 to 11.45 ETH at the time of writing, marking a 25% increase week-on-week. Its market capitalisation (105,000 ETH) surpassed Bored Ape Yacht Club (101,000 ETH) on 3 July 2024 following the floor price rally. Pudgy Penguins CEO Luca Netz also set a bold price target of 200 ETH per Pudgy Penguin, contributing to the surge.
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 $21.13 billion, decreasing by -15.65% from last week.
News Highlights
- Notcoin has partnered with AI-powered analytics firm Helika to launch the Telegram Gaming Accelerator, aiming to foster the development of new crypto-backed Telegram games. This initiative seeks to capitalise on Telegram’s vast user base and replicate the viral success of Notcoin and similar games like Hamster Kombat and Catizen.
- Catizen and Pixelverse are advancing in the Telegram gaming space. Catizen is planning an airdrop in July as part of its Phase III roadmap. Pixelverse is launching its PIXFI token on The Open Network (TON).
- Nexon, a leading global game developer and publisher known for popular titles such as MapleStory and Dungeon Fighter Online, opened registration for the Pioneer Test of MapleStory N, its blockchain-integrated MMORPG. This test phase allows global gamers to experience the new features and mechanics by completing a survey on the official website.
- SBI Holdings, a Tokyo-based financial services company and Ripple partner, is launching an NFT minting service on the XRP Ledger for the World Expo 2025 as part of the ‘EXPO 2025 Digital Wallet’ project. The service will allow attendees to collect and create unique NFTs, with the initiative limited to 500 users and featuring additional benefits like lucky draws and prizes.
Recent Research Reports
 |  |  |
|---|---|---|
| New Developments in GameFi: Play-to-Airdrop and Prediction Markets | Spot Ethereum ETFs | New Ethereum Layer-2s |
| New Developments in GameFi: Play-to-Airdrop and Prediction Markets |
|---|---|
| Spot Ethereum ETFs |
| New Ethereum Layer-2s |
- New Developments in GameFi: Play-to-Airdrop and Prediction Markets: Both play-to-airdrop and prediction markets have blurred the boundaries between Web2 and Web3. Our latest report looks into new developments in GameFi by delving deeper into these two trends.
- Spot Ethereum ETFs: In May, the SEC approved eight spot Ether ETFs, potentially launching in July. These ETFs, unlike Bitcoin’s, offer staking rewards. Projections estimate ETH ETFs could see $1.4 to $4.5 billion in inflows and $700 million to $2.4 billion in trading volume within six months. Ethereum’s scalability upgrades enhance its investment appeal.
- New Ethereum Layer-2s: Ethereum Layer-2 (L2) networks have surged in activity, now accounting for approximately 90% of all transactions on the Ethereum network, up from 77% before the Dencun upgrade. This report explores the new Ethereum L2 landscape by examining the following projects: Cronos zkEVM, Taiko, Morph, Blast, Reya, and MegaETH.
Recent University Articles
 |  |  |
|---|---|---|
| What Is ORDI and How to Buy the ORDI Token | What Are Crypto Airdrop Scams and How to Avoid Them | What Is Stacks (STX) and How Does Stacking Work? |
| What Is ORDI and How to Buy the ORDI Token |
|---|---|
| What Are Crypto Airdrop Scams and How to Avoid Them |
| What Is Stacks (STX) and How Does Stacking Work? |
- What Is ORDI and How to Buy the ORDI Token: ORDI was the first BRC-20 token on the Bitcoin blockchain. Here’s an introduction to the Ordinals meme coin and how it works.
- What Are Crypto Airdrop Scams and How to Avoid Them: Crypto airdrop scams are making the rounds. Here’s how to spot phishing airdrops and protect your assets from scammers.
- What Is Stacks (STX) and How Does Stacking Work?: As a Bitcoin Layer-2, Stacks allows developers to build Bitcoin dapps and create new use cases for the ecosystem. Here’s how it works.
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Authors
Research and Insights Team
Disclaimer
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