Quick Take
- Notable News: DeGods launches DEGOD token on Solana; PayPal and Venmo integrate Ethereum Name Service (ENS); Magic Eden and Mocaverse unveil an NFT launchpad called ‘MagicMoca’.
- Top Crypto.com NFT Drops: Rainmakers. The Final, NOLUS, and Munks On The Run.
Chart of the Week
DeGods launched a new token, DEGOD, on the Solana blockchain, with a total supply of ten billion. DEGOD can be obtained by swapping assets from the DeGods ecosystem, including DeGods NFTs, y00ts, and DUST tokens:
- 1 DeGod NFT = 550,000 DEGOD (Mechanism: Swap)
- 1 y00t NFT = 120,000 DEGOD (Mechanism: Burn)
- 1 $DUST = 36 DEGOD (Mechanism: Burn)
DEGOD tokenomics:
- 85% of DEGOD to community holders
- 10% to the foundation
- 3% sold on a discounted bonding curve for seed liquidity
- 1% for initial liquidity
- 1% to launch partner
The DEGOD token and its corresponding mechanisms mark DeGods’s transition to an ERC-404 hybrid token model, which merges the exclusivity of NFTs and their communities with the accessibility of fungible tokens. This approach allows for greater community participation while preserving the prestige and emotional significance of owning unique NFTs. The innovation seeks to bridge the existing valuation gap between NFTs and meme coins.
New Projects Spotlight
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 US$21.3 billion, increasing by +17.42% from the past 14 days.
News Highlights
- PayPal and Venmo integrated Ethereum Name Service (ENS) support, allowing users to send cryptocurrencies using human-readable ENS names (e.g., ‘xyz.eth’) instead of long alphanumeric addresses.
- Magic Eden and Mocaverse announced the launch of MagicMoca, a new NFT launchpad, which will focus on curated gaming and intellectual property projects, providing early access to Moca NFT holders.
- Azuki launched the testnet for Anime.com, an initiative aimed at integrating blockchain technology with anime content. The testnet allows users to mint digital stickers as NFTs without any cryptocurrency transactions or gas fees.
- Immutablepartnered with Portal to enhance the distribution and monetisation of blockchain-based games. Announced at Korea Blockchain Week, this collaboration aims to address challenges in Web3 gaming by streamlining game access and transactions.
Recent Research Reports
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- Research Roundup Newsletter [August 2024]: We present to you our latest issue of Research Roundup, featuring our deep dives into asset allocation with crypto, the decentralised perpetuals market, and the prediction market.
- Alpha Navigator: Quest for Alpha [August 2024]: Cryptocurrencies were down in August; Fixed Income and Equities were up. New Zealand and Canada reduced interest rates; China and Australia kept interest rates unchanged.
- Asset Allocation With Crypto: Adding BTC to portfolios helps increase yield by up to 2% annually without significant impact on volatility. The Modern Portfolio Theory is adopted to compile portfolios including TradiFi, BTC, and ETH.
Interested to know more? Access exclusive reports by signing up as a Private member, joining our Crypto.com Exchange VIP Programme, or collecting a Loaded Lions NFT.
Recent University Articles
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Bitcoin Resistance and Support Levels — What They Are and How to Trade Them |
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| Bitcoin Resistance and Support Levels — What They Are and How to Trade Them |
- Tap-to-Earn With These 5 Telegram Games: Telegram’s crypto games have been taking off. Here’s how to play them and earn Toncoin (TON), Notcoin (NOT), and other cryptocurrencies.
- How to Make Withdrawals and Deposits in the Crypto.com App: Your guide to cryptocurrency and fiat deposits and withdrawals in the Crypto.com App.
- Bitcoin Resistance and Support Levels — What They Are and How to Trade Them: Learn how resistance and support levels for Bitcoin and other cryptocurrencies are formed, and how to trade with them.
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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.
