NFT trading in the Bitcoin network was under the spotlight recently, with three of the top five collections in global sales being BRC-20 tokens based on the Bitcoin Ordinals protocol. Ordinal protocol allows for the inscribing of digital content like art and text onto the Bitcoin blockchain.
The BRC-20 token standard is an experimental ‘fungible token’ standard designed specifically for the Bitcoin blockchain. BRC-20 tokens are created through JSON (a text structure) inscriptions using the Bitcoin ordinals protocol.
Luxury lifestyle brand Blvck Paris and football club Paris Saint-Germain (PSG) have collaborated on a limited set of ‘Blvck x PSG’ NFTs in mystery boxes. The collection includes Rare, Exclusive, and General NFTs, with redeemable physical goodies for lucky collectors. NFT holders get early access to Blvck x PSG product launches, discounts, giveaways, and Blvck Ecosystem membership.
The reveal of the mystery box contents will happen shortly after the drop ends, and holders of ‘Exclusive’ and ’Premium’ boxes can claim their physical goodies one week later.
Puppetz is a private club that promotes freedom and individuality. Each member represents a unique personality and possesses a one-of-a-kind Puppet. In this club, these puppets do not succumb. They are the controllers.
The latest drop consists of 1,000 rare and exclusive NFTs, known as Burgeois editions from the ‘Puppetz Burgeois 2.0’ collection. These NFTs are unique and highly sought-after. The drop also includes various utility items created by the artist. These items include the CoolbitX x Puppetz Hardware Wallet for secure digital asset storage, Genesis Puppetz NFT Cashback, Burgeois Huge Rewards, a Genesis Puppetz NFT giveaway, and three GOLD Puppetz Monetary prizes.
NFT Metrics
Platform
Collection
7D Sales Volume (USD)
Floor Price(USD)
OpenSea
Bored Ape Yacht Club
$28,102,041 (-23%)
$61,406
OpenSea
CryptoPunks
$14,345,709 (+39%)
–
Crypto.com
Dirty Sockers
$55,789 (+39%)
$38
Crypto.com
Crypto.com Land – The First Frontier
$51,833 (-29%)
$75
Minted
VVS Miner Mole
$20,572 (+43%)
$220
Minted
Cronos Cruisers
$8,108 (-60%)
$1,466
As of 16 Nov 2023 Sources: OpenSea, Minted, Crypto.com Research
Blockchain Game Metrics
The following table shows selected top games by weekly volume in USD:
Game
Blockchain(s)
7D Volume (USD)
7D UAW
Loaded Lions: Mane City
Cronos
$104,993 (-22%)
3,790 (-16%)
Axie Infinity
Ethereum, Ronin
$10,742,602 (+1%)
34,409 (+1%)
Gods Unchained
Ethereum, Immutable X
$5,223,264 (-1%)
5,236 (-8%)
Galactic Arena
BNB Chain
$3,094,224 (-)
25 (+14%)
Galactic Quadrant
BNB Chain
$1,970,543 (+6%)
500 (-19%)
DeFi Kingdoms
Avalanche, Klaytn, DFK Chain
$1,487,239 (+107%)
17,484 (+25%)
As of 16 Nov 2023Sources: Crypto.com Research, DappRadar
Gaming Token Performance
The total market cap for gaming tokens now stands at US$13.36 billion, growing by +8.2% from last week.
News Highlights
Disney has partnered with Dapper Labs, the creator of NBA Top Shot and CryptoKitties, to venture into the world of NFTs. The partnership resulted in the launch of a new mobile application called Disney Pinnacle. The app will allow users to trade digital “pins” based on popular Disney intellectual properties, such as the characters from Lucasfilm, Pixar, and Walt Disney Animation Studios.
The National Hockey League (NHL) partnered with Sweet, a Web3 studio, to launch NHL Breakaway, an official digital collectibles marketplace and community. The platform allows fans to collect NHL highlights, similar to NBA Top Shot, by purchasing packs and trading them with other collectors. The platform also offers social and gamification features, letting fans earn rewards and customise their profiles.
Aurelien Michel, the creator of the Mutant Ape Planet NFT project, has been convicted of wire fraud charges and could face up to five years in federal prison. The project was accused of executing an exit scam, in which creators sell NFTs with false promises before abandoning the project and taking investors’ funds. Michel admitted to defrauding Mutant Ape NFT holders of nearly $3 million. He has also agreed to pay $1.4 million in forfeiture. This is the first time in US history that someone involved in an NFT exit scam has been convicted of a federal crime.
Research Roundup Newsletter [October 2023]: We present to you our latest issue of Research Roundup, featuring trending market insights in October, charts of the month, and our insights on friend.tech and SocialFi trends.
Friend.Tech: Explore what friend.tech is, its success factors and criticisms, and some of the competing platforms that have emerged.
Liquid Staking: What It Is and How It Works: Liquid staking is a revolutionary tool in the cryptocurrency space, allowing users to access staked tokens. Here’s how it works.
What Is Uniswap (UNI)?: Learn about Uniswap, an exchange on the Ethereum blockchain that uses the Automated Market Maker model and liquidity pools for decentralised trading.
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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.
Bitcoin BRC-20 trading is trending. Disney & Dapper Labs partner to launch a mobile app for NFT trading. NHL partners with Sweet to launch official digital collectibles marketplace.
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