Chart of the Week
Following Bitcoin’s halving, Bitcoin Runes transactions soared, accounting for over 50% of all transactions daily in the days after halving. This was driven by meme coin and NFT enthusiasts inscribing “rare satoshis”. Since its launch on the day of the Bitcoin halving, more than 2.38 million transactions – representing 68% of all Bitcoin transactions – involving Runes have been processed. At the time of writing, there were around 11,848 Runes etched.
New Project Spotlight
NFT Collectibles
[Upcoming] Crypto Goddesses
‘Crypto Goddesses’ is a collection of five sci-fi Greek goddess cyborgs brought to life by renowned AI artist Mikasa Art. Own a digital goddess and get transported to a realm where futuristic marvels paint a story with the timeless allure of ancient Greek mythology.
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 $30.8 billion, increasing by +6.4% from last week.
News Highlights
- Telegram plans to tokenise stickers and emojis as NFTs on the TON blockchain, following its tokenisation of usernames and numbers. It’s CEO, Pavel Durov, announced this at Token2049, emphasising Telegram’s extensive sticker use and TON blockchain’s scalability for the app’s large-scale operations.
- ApeCoin, from Bored Ape Yacht Club (BAYC) NFTs, has faced a 66% price drop in the last year, a 25% decrease YTD, as well as a declining BAYC NFT price floor. Efforts like ApeCoin DAO’s AIP-397 proposal, an NFT Launchpad that runs on ApeCoin, were only supported by 30% of holders, showing a lack of interest in governance from ApeCoin holders.
- Magic Eden launches its Runes platform to simplify trading and minting of Bitcoin-based tokens. The platform offers customisable buying options, with future plans to integrate minting features and enhance its rewards program, while also aiming to consolidate trading tools and resources in one venue for collectors and traders.
- Animoca Brands Japan partners with Square Enix, the video game giant behind the Final Fantasy and Kingdom Hearts franchises, to globally market Symbiogenesis. Symbiogenesis is an NFT project featuring 10,000 fantasy-themed characters that serve as game assets and avatars, with plans for overseas expansion supported by Animoca Brands Japan’s NFT Launchpad.
- The DeGods NFT collection, once a standout on Solana before moving to Ethereum in 2023, is now hinting at a return to Solana, sparking mixed reactions in the crypto community.
- Louis Vuitton and Pharrell Williams have introduced a new Via NFT varsity jacket, blending physical and digital fashion. Purchasers of the $8,450 jacket receive a digital NFT twin, highlighting Louis Vuitton’s push into Web3 fashion and the growing trend of “phygital” goods.
Recent Research Reports
 |  |  |
|---|---|---|
| Crypto.com Visa Card Consumer Spending Insights 2023 | Decentralised Compute for AI Development | Bitcoin Ordinals Development and Introduction to Runes |
| Crypto.com Visa Card Consumer Spending Insights 2023 |
|---|---|
| Decentralised Compute for AI Development |
| Bitcoin Ordinals Development and Introduction to Runes |
- Crypto.com Visa Card Consumer Spending Insights 2023: A full breakdown of what our community across the globe likes to spend on in 2023.
- Decentralised Compute for AI Development: This report explores the subsectors of the decentralised compute networks and their representatives, and how they contribute to the development of AI.
- Bitcoin Ordinals Development and Introduction to Runes: We explore Bitcoin Ordinals‘s development, from BRC-20 to Runes, as well as the significance and controversies surrounding them.
Recent University Articles
 |  |  |
|---|---|---|
| What Is a Crypto Wallet? A Beginner’s Guide | What Is dYdX and How to Buy DYDX | What Are Bitcoin Runes and Why Is Everyone Talking About Them? |
| What Is a Crypto Wallet? A Beginner’s Guide |
|---|---|
| What Is dYdX and How to Buy DYDX |
| What Are Bitcoin Runes and Why Is Everyone Talking About Them? |
- What Is a Crypto Wallet? A Beginner’s Guide: Learn about the different types of crypto wallets on the market, how they work, and which one is best for you.
- What Is dYdX and How to Buy DYDX: What is dYdX? Learn about this decentralised crypto exchange that specialises in perpetual swaps and its native token, DYDX.
- What Are Bitcoin Runes and Why Is Everyone Talking About Them?: With Runes, Casey Rodarmor is aiming to “make Bitcoin fun again.” Here’s how they work.
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.
