Chart of the Week
‘Pandora’ is an NFT collection that’s the first implementation of a newly introduced, experimental, and unofficial token standard called ERC-404. This new standard mixes elements from the existing ERC-20 and ERC-721 standards. In contrast to various NFT fractionalization protocols, ERC-404 is designed to achieve fractionalisation natively.
Days after launch, ‘Pandora’ NFTs gained popularity swiftly. It topped the NFT sales this week by accumulating over US$37 million in sales volume since its launch on 5 February, with the average price increasing from approximately US$4,300 to more than US$22,300.
New Project Spotlight
Blockchain Games
[Upcoming] Loaded Lions: Mane City Prosperity Blitz
As Mane City prepares for its next full-fledged Competitive Mode season, players get to compete in a two-week Blitz event again and earn the opportunity to win from a prize pool of US$35,000++!
100% of Diamond spend will be allocated to the prize pool, with 70% of this being exclusive to the Prosperity Blitz. What’s more, special NFT rewards are waiting for the top player as well, including the ‘Lion’s Tenacity Award’ collectible.
NFT Collectibles
[Live] Project SENSAI – The Golden Army
Project SENSAI is an AI-powered play-to-earn strategy game created by Red Kunai Labs. Its lead artist, Eugenia Chen, combined her passions for technological and artistic disciplines to create the generated avatars in ‘Project SENSAI – The Golden Army’.
Each PFP NFT boasts unique abilities and a special backstory. The collectibles in this project grant holders access to the game and various utilities, including the ability to turn their selfie into an avatar, Bitcoin Ordinals vaulting, and airdrops.
[Upcoming] The Depot
Missed your chance to snag an ‘Expedition Gear’ NFT in the initial drop and previous Depot restocks? Scoop up all the tools you need in this latest Depot restock, and gear up for the next Loaded Lions: Mane City Competitive Mode event. These might just come in handy beyond the game as well. Stay tuned for more details!
NFT Metrics
| Platform | | Collection | 7D Sales Volume (USD) | Floor Price (USD) |
|---|---|---|---|---|
| Blur |  | Nobody | $25,219,311 (-) | $1,501 |
| Blur |  | DeGods | $14,833,358 (-) | $7,187 |
| OpenSea | | Nobody | $25,709,779 (-) | $1,454 |
| OpenSea | | DeGods | $12,390,088 (-) | $7,675 |
| Crypto.com |  | SYNTHTOPIA | $129,761 (-23%) | $51 |
| Crypto.com |  | Dark Lions | $30,038 (-35%) | $140 |
| Minted |  | Top Dog Corgi | $78,262 (+103%) | $167 |
| Minted |  | VVS Miner Mole | $5,644 (-61%) | $185 |
| Platform | Blur |
|---|---|
| | |
| Collection | Nobody |
| 7D Sales Volume (USD) | $25,219,311 (-) |
| Floor Price (USD) | $1,501 |
| Platform | Blur |
| | |
| Collection | DeGods |
| 7D Sales Volume (USD) | $14,833,358 (-) |
| Floor Price (USD) | $7,187 |
| Platform | OpenSea |
| | |
| Collection | Nobody |
| 7D Sales Volume (USD) | $25,709,779 (-) |
| Floor Price (USD) | $1,454 |
| Platform | OpenSea |
| | |
| Collection | DeGods |
| 7D Sales Volume (USD) | $12,390,088 (-) |
| Floor Price (USD) | $7,675 |
| Platform | Crypto.com |
| | |
| Collection | SYNTHTOPIA |
| 7D Sales Volume (USD) | $129,761 (-23%) |
| Floor Price (USD) | $51 |
| Platform | Crypto.com |
| | |
| Collection | Dark Lions |
| 7D Sales Volume (USD) | $30,038 (-35%) |
| Floor Price (USD) | $140 |
| Platform | Minted |
| | |
| Collection | Top Dog Corgi |
| 7D Sales Volume (USD) | $78,262 (+103%) |
| Floor Price (USD) | $167 |
| Platform | Minted |
| | |
| Collection | VVS Miner Mole |
| 7D Sales Volume (USD) | $5,644 (-61%) |
| Floor Price (USD) | $185 |
Sources: Blur, OpenSea, Minted, Crypto.com Research
Blockchain Game Metrics
The following table shows selected top games by weekly volume in USD:
| | Game | Blockchain(s) | 7D Volume (USD) | 7D UAW |
|---|---|---|---|---|
 | Loaded Lions: Mane City | Cronos | $10,290 (-73%) | 2,766 (-7%) |
 | Axie Infinity | Ethereum, Ronin | $978,536 (-24%) | 16,377 (-2%) |
 | Gods Unchained | Ethereum, Immutable X | $761,690 (+5%) | 1,110 (+5%) |
 | xPet.tech | Arbitrum | $407,383 (-24%) | 1,936 (-23%) |
 | DeFi Kingdoms | Avalanche, Klaytn, DFK Chain | $221,026 (+190%) | 6,637 (-2%) |
 | BinaryX | BNB Chain | $171,846 (+148%) | 67 (+3%) |
| | |
|---|---|
| Game | Loaded Lions: Mane City |
| Blockchain(s) | Cronos |
| 7D Volume (USD) | $10,290 (-73%) |
| 7D UAW | 2,766 (-7%) |
| | |
| Game | Axie Infinity |
| Blockchain(s) | Ethereum, Ronin |
| 7D Volume (USD) | $978,536 (-24%) |
| 7D UAW | 16,377 (-2%) |
| | |
| Game | Gods Unchained |
| Blockchain(s) | Ethereum, Immutable X |
| 7D Volume (USD) | $761,690 (+5%) |
| 7D UAW | 1,110 (+5%) |
| | |
| Game | xPet.tech |
| Blockchain(s) | Arbitrum |
| 7D Volume (USD) | $407,383 (-24%) |
| 7D UAW | 1,936 (-23%) |
| | |
| Game | DeFi Kingdoms |
| Blockchain(s) | Avalanche, Klaytn, DFK Chain |
| 7D Volume (USD) | $221,026 (+190%) |
| 7D UAW | 6,637 (-2%) |
| | |
| Game | BinaryX |
| Blockchain(s) | BNB Chain |
| 7D Volume (USD) | $171,846 (+148%) |
| 7D UAW | 67 (+3%) |
Sources: Crypto.com Research, DappRadar
Gaming Token Performance
The total market cap for gaming tokens now stands at $22.06 billion, increasing by 2.04% from last week.
News Highlights
- Web3 mobile game ‘Heroes of Mavia‘ has surpassed one million downloads on iOS and Android within five days of its launch. The game is backed by Crypto.com Capital, and it demonstrates a growing acceptance for blockchain gaming.
- Ethereum Name Service (ENS) has partnered with traditional domain registrar GoDaddy to bring blockchain domains to over 20 million GoDaddy users. The partnership will enable users to link their domains to their ENS-supported cryptocurrency wallets. This simplifies the acceptance of cryptocurrency payments and eases the integration of Web2 and Web3.
- Mastercard has launched a trivia game for the UEFA Champions League tournament which utilises NFT technology. This game tests fans’ knowledge and grants you an opportunity to win tickets to the grand final at Wembley Stadium. The trivia game is open to Mastercard customers who collect branded NFT passes and compete in a global leaderboard.
- Hong Kong film director Stephen Chow’s ‘Nobody’ NFT collection has seen trading volumes reach over 10,000 ETH (~US$24.4m) since its release on 1 February. This highlights the growing interest in creative projects in the NFT market.
- Bitcoin NFT project, Taproot Wizards, has successfully sold out its first collection, ‘Quantum Cats’, raising around $13 million. All 3,000 digital collectibles were sold at a fixed price of 0.1 BTC each. The sale surpassed the $7.5 million in funding Taproot Wizards raised from investors last year.
- NFT aggregator X2Y2 Pro is integrating with the Oasys blockchain gaming ecosystem to provide enhanced trading and lending capabilities for in-game NFTs.
- Tokyo-based marketing company Hakuhodo and Japan Airlines are launching a second round of experiments for their ‘KOKYO‘ NFT project. This project tokenises unique local experiences and real-world assets (RWAs).
Recent Research Reports
 |  |  |
|---|---|---|
| Alpha Navigator: Quest for Alpha [January 2024] | Research Roundup Newsletter [January 2024] | Crypto ETFs |
| Alpha Navigator: Quest for Alpha [January 2024] |
|---|---|
| Research Roundup Newsletter [January 2024] |
| Crypto ETFs |
- Alpha Navigator: Quest for Alpha [January 2024]: Fed signals rate cut in March unlikely. Asset class performance was mixed in January, with crypto and equities up slightly.
- Research Roundup Newsletter [January 2024]: We present to you our latest issue of Research Roundup, featuring trending market insights in January, charts of the month, and our deep dive into the world of crypto ETFs.
- Crypto ETFs: This report explores what crypto ETFs are, providing an overview of the current crypto ETF market and looking into how they work as investment vehicles. Plus, we explore their features, significance, advantages, and drawbacks.
Recent University Articles
- Crypto Market Makers vs Market Takers — What They Are and How They Influence: Crypto market makers provide liquidity by placing buy and sell orders, while market takers seek immediate execution of their orders. Here’s how they interact with each other.
- Bitcoin NFTs — How the Ordinals Protocol Works: Learn all about what the Bitcoin Ordinals protocol is and how it works — from satoshis to inscriptions to NFTs.
- Liquid Staking vs Traditional Staking — What Are the Differences and How Do They Work? Staking and liquid staking are popular ways for cryptocurrency holders to earn rewards. Here’s how the two approaches differ.
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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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.
