NFT & Blockchain Gaming (08/12/2023)

NFT market sees a significant surge. Decentraland introduces a cross-chain upgrade to its marketplace. Funko to release digital collectibles featuring Disney’s Mickey and Friends characters.

Chart of the Week

There was a significant surge in the NFT market in the last week. Bull-era collectibles like ‘Pudgy Penguins’ and ‘Kanpai Pandas’ saw a notable increase in prices. Pudgy Penguins’s floor price rose from over 7 ETH to nearly 11 ETH, while Kanpai Pandas experienced a 127% growth in floor price. Other collections, such as ‘World of Women’ and ‘Miladys’, also saw price rises.

New Project Spotlight

NFT Collectibles

[Upcoming] Dark Lions – Phase 1: Feline Face-Off

Crypto.com provides the backstory of the Dark Lions, a group of apex predators from 370 years in the future who once lived in harmony with the Loaded Lions. After conflicts tore the two factions apart, they decided to travel back in time to the present to stop the rise of the Loaded Lions and take Mane City for themselves. The Cyber Cubs join forces with the Loaded Lions, and the battle for dominance begins.

Stay tuned for more details about the Dark Lions mint and the perks they grant collectors.

[Upcoming] Cryptonauts: The Dark Side of the Dune

Renowned artist Fran Rodriguez has released a new collection of exclusive NFTs called ‘Cryptonauts: The Dark Side of the Dune’. This is his sixth curated drop on Crypto.com NFT and serves as the second chapter of his sold-out Cryptonauts series. 

The collection tells the story of a group of space pioneers who have discovered planets suitable for human colonisation. Collectors of the original Cryptonauts drop will have early access to this new collection. Holders can enjoy various benefits, including exclusive airdrops.

NFT Metrics

Blockchain Game Metrics

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$17.28 billion, growing by +16.29% from last week.

News Highlights

• Decentraland introduced a cross-chain upgrade to its marketplace, making NFT shopping more accessible. The upgrade involves partnering with Squid, a cross-chain liquidity layer powered by Axelar. Users can now purchase NFTs listed on the Decentraland Marketplace using both Polygon and Ethereum.
• Funko, a toy company known for its Pop! figurines, is releasing a new wave of digital collectibles featuring Disney’s Mickey and Friends characters. The collection will be available exclusively on Droppp.io starting 12 December. The digital cards are inspired by Funko’s popular Pop! figurines and come in standard and premium packs. Collectors have the chance to redeem rare collectibles for limited-edition physical Pop! figures. 
• Casio is set to release a new collection of G-SHOCK NFTs on 15 December. The drop will feature 2,000 collectibles in two distinct styles: VGA-001 and VGA-002. These NFTs aim to engage Generation Z by offering virtual interactions.
• Gaming-focused group Merit Circle DAO announced that its Sphere NFT marketplace and tech stack will now be compatible with Immutable’s upcoming zkEVM network, powered by Polygon. This expansion is part of Merit Circle’s “chain agnostic” approach. 

Recent Research Reports

• Issuing Tokens on the Bitcoin Network: Explore the latest innovations in token issuance on the Bitcoin Network. We look at BRC-20, Atomicals, Taproot Assets and Nostr Assets.
• Alpha Navigator: Quest for Alpha [November 2023]: Peak rates hopes are growing following recent US and Europe economic releases. Risk assets were mostly up in November, led by ETH.
• Friend.Tech: Explore what friend.tech is, its success factors and criticisms, and some of the competing platforms that have emerged.

Recent University Articles

• Data Tokenisation: What It Is and Why It Matters for Crypto: Learn all about data tokenisation, how it works on the blockchain, and its application in crypto and other industries.
• Bitcoin Spot vs Futures ETFs Explained: Learn the difference between BTC spot vs futures ETFs — and why the Bitcoin spot ETFs haven’t yet been approved by the SEC.
• The Maker (MKR) Governance Token: How It Works and How To Get It: Here’s how MKR — MakerDAO’s governance and utility token — works and what rights holders have.

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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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.