NFT & Blockchain Gaming Weekly – 📈 Yuga Labs’ Acquisition of PROOF Collective Causes Moonbird NFTs to Surge

YugaLabs acquires PROOF Collective, causing Moonbirds NFTs to surge. Mocaverse by Animoca Brands partners with Crypto.com DeFi Wallet. 10 Autoglyphs NFTs are sold for US$14.5M, the largest NFT sale since 2022.

Feb 23, 2024
Crypto.com NFT and Gaming

Chart of the Week

Yuga Labs, the creator of Bored Ape Yacht Club, acquired PROOF Collective, which includes Moonbirds, Oddities, Mythics, and the Grails exhibition series. The integration of Moonbirds into the Otherside Metaverse is highlighted as a crucial aspect of the acquisition, providing a vibrant platform for content creators, communities, and brands in the blockchain realm.

Following the acquisition on 16 February, Moonbirds’s daily trading volume reached 1,886 ETH (~US$5.3 million), and its average price surged by 86% over the past seven days, peaking at 2.11ETH (~$5.9K). However, data also suggested that the sales activity picked up speed from 14 February, earlier than the announcement date.

Crypto.com Moonbirds Sales Activity

New Project Spotlight

NFT Collectibles

[Live] Tokyo Blade ‘Tokyo Blade: Black Shinobi’ is a Web3 anime collection set in the year 2050, featuring a 1980s retro anime style with modern designs and environments. Every collector will get a digital copy of the series, with holders of the ‘Tokyo Blade Comic’ NFT receiving a physical copy.

Tokyo Blade

[Live] MGRNS

Portuguese 3D artist Tiago Marinho returns with ‘MGRNS’, a sequel collection to his ‘Migraines: State of Mind’ Crypto.com NFT drop. His latest project tells a tale about a business selling emotions and experiences in collectable packages. Ten lucky holders will be airdropped a bonus NFT.

‘MGRNS’

Screenshot 2024 02 23 At 4.46.49 pm

The following table shows selected top games by weekly volume in USD:

Screenshot 2024 02 23 At 5.01.17 pm


Gaming Token Performance

The total market cap for gaming tokens now stands at $29.56 billion, increasing by +10.59% from last week.

Screenshot 2024 02 23 At 4.48.40 pm

News Highlights

  • Mocaverse, a membership network project by Animoca Brands, formed strategic partnerships with multiple wallets, including Crypto.com DeFi Wallet, to expand the Moca ID ecosystem and bridge the gap between centralised finance (CeFi) and the on-chain cultural economy. Through Moca ID, users will have access to various Web3 cultural experiences, such as PointFi, GameFi, and SocialFi, and can easily onboard to the Mocaverse ecosystem. 
  • Autoglyphs, a collection of algorithm-generated art created by Larva Labs, the creators of CryptoPunks, saw a significant NFT sale on 19 February. The collection of 10 Autoglyphs was sold for an impressive $14.5 million (equivalent to ~5,000 ETH), making it the largest NFT sale since 2022. It was facilitated by Fountain.xyz, a prominent digital art brokerage. Autoglyphs are unique because they are entirely stored on the Ethereum blockchain, eliminating the storage issues that other NFTs face.
  • Shiba Inu’s latest NFT project, SHEboshis, utilises the DN-404 standard, which combines the strengths of ERC-20 and ERC-721 tokens, allowing for enhanced liquidity and fractional ownership. Shiba Inu (SHIB) token holders have the opportunity to claim a complimentary SHEboshi NFT within a specific time frame. Afterwards, the remaining assets will be available for purchase by the general public.

Recent Research Reports

  • Alpha Navigator: Quest for Alpha [January 2024]: Fed signals rate cut in March unlikely. Asset class performance was mixed in January, with crypto and equities up slightly.
  • Research Roundup Newsletter [January 2024]: We present to you our latest issue of Research Roundup, featuring trending market insights in January, charts of the month, and our deep dive into the world of crypto ETFs.
  • Crypto ETFs: This report explores what crypto ETFs are, providing an overview of the current crypto ETF market and looking into how they work as investment vehicles. Plus, we explore their features, significance, advantages, and drawbacks.

Recent University Articles


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Authors

Research and Insights Team

Disclaimer

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