Weekly GameFi Update (Week 17, 29/04/2022 – 05/05/2022)

The Otherside Metaverse land sale took place bringing in an astonishing US$320M. Square Enix makes moves to transition further into blockchain-based gaming.

Key Takeaways

• On Saturday, the Otherside metaverse land sale took place, raising almost US$320M — one of the largest NFT mints to date. The sale guzzled $166M worth of gas fees and crashed popular blockchain explorer Etherscan.
• Square Enix has sold a number of its games and game studios, including Tomb Raider. The $300M deal will aid its transition into blockchain-based games. 
• Spotify is entering the metaverse, announcing a virtual presence called ‘Spotify Island’ on Roblox. Players can create music, interact with artists, and go on mini-quests. 
• The total market cap for GameFi tokens now stands at US$40.94 billion, down -7.96% from last week.

Highlights

• Ronin Network to increase validator nodes to 21, introduce $1M bug bounty and audits to prevent the next DeFi hack
• Animoca Brands’ GAMEE partners with Man City to launch football-themed P2E games
• Dior premieres 2022 men’s fashion on Baidu metaverse
• Italy’s Serie A brings soccer to the metaverse
• Gatorade trademark applications hint at joining the metaverse
• Shiba Inu can now be used to purchase land in SHIB’s Metaverse

Game Updates

• Axie Infinity releases an overview of how Land Staking will work
• Axie Infinity: Origin early access is live
• The Sandbox reopens Central Town
• STEPN enters Public Beta Phase IV
• DeFi Kingdoms releases development update for April

Top Gainers and Losers

Top Games Metrics

Top 15 Largest Tokens by Market Cap

Daily Gamers by Blockchain