Chart of the Week
Pudgy Penguins launched the beta version of OverpassIP, an IP licensing platform to streamline the licensing process for NFTs at the end of January 2024. The platform aims to provide Pudgy Penguins and Lil Pudgys NFT holders with opportunities to transform their characters into physical products such as toys.
Since the platformās launch, the collectionās trading volume and average price have been experiencing considerable growth recently. It topped the trading volume charts on NFT markets Blur and OpenSea in the past week, and the average sales price has surged, reaching over US$46,000.
![[Crypto.com] Pudgy Penguins Activity](https://contenthub-static.crypto.com/wp_media/2024/02/image10.png)
New Project Spotlight
Blockchain Games
[Live] Loaded Lions: Mane City Prosperity Blitz
As Loaded Lions: Mane City prepares for its next full-fledged Competitive Mode season, players can 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. Whatās more, special NFT rewards are waiting for the top player as well, including the āLionās Tenacity Awardā collectible.
NFT Collectibles
[Live] The Depot
Missed your chance to snag an āExpedition Gearā 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 too. Stay tuned for more details!
[Upcoming] MGRNS
Portuguese 3D artist Tiago Marinho returns with āMGRNSā, a sequel collection to his āMigraines: State of Mindā Crypto.com NFT drop. His latest project tells a tale about a business selling emotions and experiences in collectible packages. You can start shopping this drop starting 19 February.
NFT Metrics
| Platform | ļ»æ | Collection | 7D Sales Volume (USD) | Floor Price (USD) |
|---|---|---|---|---|
| Blur |  | Pudgy Penguins | $28,097,762 (+201%) | $55,546 |
| Blur |  | Bored Ape Yacht Club | $11,494,039 (+23%) | $64,171 |
| OpenSea | | Pudgy Penguins | $23,120,856 (+173%) | $55,607 |
| OpenSea |  | Mutant Ape Yacht Club | $17,318,888 (+45%) | $11,836 |
| Crypto.com |  | Crypto.com Expedition Gear: Tools of the Trade | $46,925 (+1281%) | $3 |
| Crypto.com |  | Crypto.com Land ā The First Frontier | $38,729 (+72%) | $60 |
| Minted |  | Top Dog Corgi | $23,418 (-72%) | $179 |
| Minted |  | VVS Miner Mole | $6,928 (+14%) | $189 |
| Platform | Blur |
|---|---|
| ļ»æ | |
| Collection | Pudgy Penguins |
| 7D Sales Volume (USD) | $28,097,762 (+201%) |
| Floor Price (USD) | $55,546 |
| Platform | Blur |
| ļ»æ | |
| Collection | Bored Ape Yacht Club |
| 7D Sales Volume (USD) | $11,494,039 (+23%) |
| Floor Price (USD) | $64,171 |
| Platform | OpenSea |
| ļ»æ | |
| Collection | Pudgy Penguins |
| 7D Sales Volume (USD) | $23,120,856 (+173%) |
| Floor Price (USD) | $55,607 |
| Platform | OpenSea |
| ļ»æ | |
| Collection | Mutant Ape Yacht Club |
| 7D Sales Volume (USD) | $17,318,888 (+45%) |
| Floor Price (USD) | $11,836 |
| Platform | Crypto.com |
| ļ»æ | |
| Collection | Crypto.com Expedition Gear: Tools of the Trade |
| 7D Sales Volume (USD) | $46,925 (+1281%) |
| Floor Price (USD) | $3 |
| Platform | Crypto.com |
| ļ»æ | |
| Collection | Crypto.com Land ā The First Frontier |
| 7D Sales Volume (USD) | $38,729 (+72%) |
| Floor Price (USD) | $60 |
| Platform | Minted |
| ļ»æ | |
| Collection | Top Dog Corgi |
| 7D Sales Volume (USD) | $23,418 (-72%) |
| Floor Price (USD) | $179 |
| Platform | Minted |
| ļ»æ | |
| Collection | VVS Miner Mole |
| 7D Sales Volume (USD) | $6,928 (+14%) |
| Floor Price (USD) | $189 |
Sources: Blur, OpenSea, Minted, Crypto.com Research
Blockchain Game Metrics
The following table shows selected top games by weekly volume in USD:
| ļ»æ | Game | Blockchain(s) | 7D Volume (USD) | 7D UAW |
|---|---|---|---|---|
 | Loaded Lions: Mane City | Cronos | $18,740 (+82%) | 2,766 (+8%) |
 | HYTOPIA | Ethereum, Polygon | $109,656,680 (-) | 323 (+28%) |
 | Axie Infinity | Ethereum, Ronin | $11,091,378 (-26%) | 37,072 (-3%) |
 | Gods Unchained | Ethereum, Immutable X | $5,347,747 (+0%) | 4,767 (+1%) |
 | Galactic Arena | BNB Chain | $5,026,573 (+566%) | 179 (-16%) |
 | Overtime Markets | Arbitrum, Base, Optimism | $3,243,318 (+57%) | 2,934 (+5%) |
| ļ»æ | |
|---|---|
| Game | Loaded Lions: Mane City |
| Blockchain(s) | Cronos |
| 7D Volume (USD) | $18,740 (+82%) |
| 7D UAW | 2,766 (+8%) |
| ļ»æ | |
| Game | HYTOPIA |
| Blockchain(s) | Ethereum, Polygon |
| 7D Volume (USD) | $109,656,680 (-) |
| 7D UAW | 323 (+28%) |
| ļ»æ | |
| Game | Axie Infinity |
| Blockchain(s) | Ethereum, Ronin |
| 7D Volume (USD) | $11,091,378 (-26%) |
| 7D UAW | 37,072 (-3%) |
| ļ»æ | |
| Game | Gods Unchained |
| Blockchain(s) | Ethereum, Immutable X |
| 7D Volume (USD) | $5,347,747 (+0%) |
| 7D UAW | 4,767 (+1%) |
| ļ»æ | |
| Game | Galactic Arena |
| Blockchain(s) | BNB Chain |
| 7D Volume (USD) | $5,026,573 (+566%) |
| 7D UAW | 179 (-16%) |
| ļ»æ | |
| Game | Overtime Markets |
| Blockchain(s) | Arbitrum, Base, Optimism |
| 7D Volume (USD) | $3,243,318 (+57%) |
| 7D UAW | 2,934 (+5%) |
Sources: Crypto.com Research, DappRadar
Gaming Token Performance
The total market cap for gaming tokens now stands at $26.73 billion, increasing by 21.12% from last week.
![[crypto.com] Gaming Token Performance](https://contenthub-static.crypto.com/wp_media/2024/02/Crypto.com-Gaming-Token-Performance.png)
News Highlights
- One week after the release of Ethereumās ERC-404 token standard, which introduced fractional NFT ownership, a competitor called DN404 (Divisible NFT) emerged. It combines aspects of ERC-20 and ERC-721 tokens in a two-part system and promotes direct token trading without a middle man. Despite this advancement, concerns about ERC-404ās stability and adherence to existing standards have emerged.
- Disney and Epic Games have announced a $1.5 billion partnership to develop an immersive gaming and entertainment universe integrating Disneyās franchises with Fortnite. This partnership aims to deliver a āpersistent universeā for players to interact, shop, and engage in content, signalling another significant move towards the metaverse.
- The creators of Axie Infinity, Sky Mavis, have announced a collaboration with Japan-based developer GMonsters and mobile game publisher MIXI to bring Fight League games to the Ronin blockchain. This collaboration provides greater exposure and a wider audience for the Fight League franchise, tapping into blockchain gaming, and further promoting the use of blockchain technology in the gaming industry.
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
 |  |  |
|---|---|---|
| What Is NEAR Protocol (NEAR)? How It Works and How to Buy NEAR | What Is Bitcoin (BTC) Dominance? | Crypto Market Makers vs Market Takers ā What They Are and How They Influence |
| What Is NEAR Protocol (NEAR)? How It Works and How to Buy NEAR |
|---|---|
| What Is Bitcoin (BTC) Dominance? |
| Crypto Market Makers vs Market Takers ā What They Are and How They Influence |
- What Is NEAR Protocol (NEAR)? How It Works and How to Buy NEAR: NEAR protocol is designed to incentivise a network of computers to operate a platform for decentralised applications, utilising sharding for more efficient data retrieval and scaling.
- What Is Bitcoin (BTC) Dominance?: In this beginnerās guide, learn the ins and outs of BTC dominance ā what it means, and what happens when BTC dominance goes up or drops.
- Crypto Market Makers vs Market Takers ā 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. Hereās how they interact with each other.
Weāre 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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Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or āfinancialā of any description. NFTs are to be reserved for fun only and NOT with any expectation of āvalueā, āprofitā, āyieldā or āinvestmentā. 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.
