Weekly NFT & GameFi Update (Week 41, 14/10/2022 - 21/10/2022)
Magic Eden shifts to an optional royalties model. Bicycle Cards plans to create physical playing cards based on its Bored Ape. Sorare is launching a fantasy basketball game in partnership with NBA.
Key Takeaways
Solana-based Magic Eden has become the latest NFT marketplace to shift to an optional royalties model, following in the footsteps of X2Y2 in August. Under this model, buyers can make the decision on how much royalties to pay.
Playing card brand Bicycle bought a Bored Ape Yacht Club NFT for US$187,000. The brand plans to create and sell physical playing cards based on the Ape. Bicycle specifically chose an Ape with a joker playing card in a helmet — only 2% of the 10,000 Apes have this attribute.
NFT fantasy sports gaming platform Sorare is launching a free-to-play digital collectible-based fantasy basketball game in partnership with the NBA. Players can collect NFT trading cards featuring NBA basketball players, as well as assemble and manage teams.
X2Y2 recorded a -30% decrease in sales and a -10% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +39% and its transaction count also increased +66%.
The total market cap for GameFi tokens now stands at $7.2 billion, down -7% from last week.
Crypto.com NFT in the Spotlight
The "Halloween Bash - Create Your Own Halloween Monster" NFT collection allows users to explore endless combinations in pursuit of creating their completely unique creature. A collaborative effort between seven prominent NFT creators, this drop is cementing itself as a major show of artistic excellence.
“PSG x Clown Skateboards” features the worlds of football and skateboarding, as well as the two beloved cities of Paris and London, with accompanying easter eggs. This NFT collection is created by Clown Skateboards's Jeff Boardman and Vikas Malik, in collaboration with the Paris Saint-Germain football club.
NFT Highlights
Azuki reveals physical backed tokens for on-chain ownership of physical items
Shopify users get their hands on Tezos NFTs with new partnership
GameFi Highlights
GameFi platform Arcade raises $3.2M led by Crypto.com and other prominent investors
Major League Baseball is hiring to expand its NFT, digital games and metaverse presence
Web3 infrastructure firm ChainSafe raises $18.75M as attention shifts to GameFi
Japan’s Konami seeks to hire talents to advance Web 3, metaverse, and NFT efforts
NFT Transaction Benchmark
Sources:
Magic Eden data refer to the on-chain activity of the tracked smart contracts.
LooksRare, OpenSea, and Coinbase data are retrieved from Dune Analytics.
Magic Eden, X2Y2, NBA Top Shot, and Solanart data are retrieved from DappRadar.
Notes:
1. Year-to-Date (YTD) volume is calculated from the first day of the current year to the current date.
2. Week-on-Week (WoW) % change is calculated based on the differences between two subsequent seven-day periods.
3. Transaction count and average price refer to the number of traders and average price over the past seven days, respectively.
4. LooksRare was launched on 10 January 2022.
5. X2Y2 was launched on 16 February 2022.
6. A significant percentage of the transaction volume on LooksRare/X2Y2 could be from wash trading.
The following chart shows select top NFTs and their historical floor prices:
Top Collections
The following information shows selected top artists (by sales volume on each platform) and a sample of their art.
Platform: Crypto.com NFT
Artist: Loaded Lions
Sales Volume (USD): $99,000
Platform: Minted
Artist: VVS Miner Mole
Sales Volume (USD): $59,000
Platform: Magic Eden
Artist: DeGods
Sales Volume (USD): $2,235,000
Platform: OpenSea
Artist: CryptoPunks
Sales Volume (USD): $3,623,000
GameFi Top Gainers & Losers
*Gaming Infrastructure tokens: ENJ, FLOW, WAXP, UOS, MBOX, DAWN, GALA, IMX
*Gaming Utility tokens: AXS, MANA, SAND, ALICE, ILV, ATLAS, POLIS, GODS, GMT, DAR, AURY, APE, PYR
*Gaming Guild tokens: YGG, MC, UNIX, GGG, AGV
Top Games Metrics
* Week-on-Week (WoW) % change is calculated based on the differences between two consecutive seven-day periods
* Users refer to the number of unique wallet addresses interacting with the dApp's smart contracts
* Weekly Volume refers to the total amount of incoming value to the dApp's smart contracts during the seven-day period
* Weekly Transactions refer to the no. of transactions made on the dApp’s smart contracts during the seven-day period
* Stickiness refers to the ratio of daily active users (DAU) to monthly active users (MAU). A high stickiness means users consistently return to the dApp.
* Weekly volume using Splinterlands data is approx US$489K.
* Alien Worlds, Splinterlands, MOBOX, Sunflower Land, Pegaxy, SecondLive, Axie Infinity, DeFi Kingdoms data
from DappRadar
* STEPN data from Dune Analytics
Daily Gamers by Blockchain
Disclaimer
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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.
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