NFT & Gaming Weekly – 📈 OpenSea is set to undergo a revamp; McDonald’s announced a collaboration with NFT brand Doodles

OpenSea is set to undergo a significant revamp. McDonald’s announced a collaboration with NFT brand Doodles. Lamborghini launches Fast ForWorld Revuelto NFT mint.

Quick Take

• OpenSea will undergo a significant revamp; McDonald’s announced a collaboration with NFT brand Doodles; Lamborghini launches Fast ForWorld Revuelto NFT mint.
• Notable Crypto.com NFT Drops: LIFE OF HEL – HEL Mates, Crazzzy Monsters: Arcane Creatures Edition

Chart of the Week

NFT marketplace OpenSea will undergo a significant revamp, and is expected to launch in December 2024. This overhaul aims to address increasing competition from emerging platforms, as well as regulatory scrutiny from the US SEC. CEO Devin Finzer described the reboot as a complete reimagining of OpenSea, featuring major technical and user experience changes, although specific details remain limited.

OpenSea lost its dominant market position in 2023, when competitors like Blur and Magic Eden gained more popularity with a series of incentives. At the time of writing, Blur dominated the NFT market with a 46% share in terms of trading volume, while OpenSea and OpenSea Pro occupied about 23% of market share.

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$25.68 billion, increasing by +16.52% from the past 14 days.

New Projects Spotlight

News Highlights

• McDonald’s announced a collaboration with NFT brand Doodles for a holiday campaign called ‘GM Spread Joy’. This initiative features limited-edition coffee cups decorated with Doodles’s colourful designs, available at participating US locations starting 18 November. Customers can unlock digital collectibles and access co-branded merchandise through the cups.
• Luxury vehicle manufacturer Lamborghini partnered with Animoca Brands and Transak to launch the Fast ForWorld Revuelto NFT mint, allowing users to create digital Lamborghinis. The NFTs will be used in games developed by Motorverse, an Animoca Brands project focusing on digital vehicles. Transak will be the payment platform partner for the Fast ForWorld project, providing secure transfers.
• Ethereum Name Service (ENS) is set to launch its own Layer-2 blockchain called Namechain, which is expected to go live around the end of 2025. This new network will utilise zero-knowledge rollups to enhance transaction speed and reduce costs by compressing data. ENS Labs aims to ensure that Namechain is backward compatible with the current ENS setup on the Ethereum mainnet.

Recent Research Reports

• Research Roundup Newsletter [October2024]: We present to you our latest issue of Research Roundup, featuring our deep dives into Intent-Based Protocols, Solana Staking and Crypto Derivatives Trading – Technical Analysis in Perpetuals and CFDs.
• Alpha Navigator: Quest for Alpha [October 2024]: Crypto and Equities had mixed performances in October; Fixed Income was down; BTC led the rise. Canada, China, Eurozone and New Zealand reduced interest rates; Australia and Japan kept interest rates unchanged.
• Crypto Derivatives Trading – Technical Analysis in Perpetuals and CFDs: In this report, we demonstrate how to use popular technical indicators — MACD & RSI — to build trading strategies, with the consideration of margin and trading fees, within the Crypto.com ecosystem.

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

• Selecting Range in UpDown Options — A Guide: Setting your range as narrow or wide as preferred can be the deciding factor for a successful UpDown Option contract. Here’s how to choose.
• Spot Ethereum ETFs Explained: What to Know: Spot Ethereum ETFs were approved by the US SEC in July 2024. Here’s an overview of how they work and major asset managers.
• How Does Ethereum Work? An Introduction to ETH: A comprehensive guide to the Ethereum network, from smart contracts to dapps and gas fees, we explain it all.

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