P2E Moon Watch: The Gaming Week in Review (April 15-22, 2022)

Week in review for game users and price action. Which games still hold onto top positions?

As the second quarter of 2022 moves on, many games are hitting their milestones with new releases and upgrades. Axie Infinity announced Season 21, since Origin is not ready with leaderboard functions. 

The past week was also successful for STEPN (GMT), a new move-to-earn project. The NFT space also got a boost from the limited beta launch of Coinbase NFT.

Top Events for the Week

Leading Games by Number of Users

Polygon keeps its spot as one of the most convenient platforms for P2E. It also carries currently hot games with highly active development, especially Pegaxy and Sunflower Farm. Those two games are in an in-between period, with Pegaxy still adjusting to the new rules, while Sunflower Farm has more days with no trading for its SFL token. 

Top games remain in the lead based on their usage of the WAX or EOS blockchains, designed to carry more transactions. 

GameUsersChange 24 hours
Alien Worlds183K-23.6%
Farmers World122.94K-2.34%
Second Live53.01K+17.1%

P2E Token Price Action

Weekly Winner: My Neighbor Alice (ALICE) +0.8% in a week where most P2E assets slid significantly. ALICE traded at $6.46, after 9.22% drop before the weekend.

Weekly Loser: UFO Gaming (UFO) -10.24% to $0.0000072. This outlier token was the biggest loser in a market that turned to the red for all top P2E tokens.

Once again, the dip of Bitcoin (BTC) under $40,000 dragged down the P2E market. The total value of gaming assets is now $15.7B equivalent as most leading tokens were pressured. Despite the game development, this will not always translate to price action as most of the initial hype has calmed down.

Decentraland – 14.99% traded at $2.02, unaffected by ongoing metaverse events such as a marathon.

The Sandbox (SAND) – 2.28% to $2.72. SAND kept some of its positions, reflecting the game adding new content and partnerships. 

Axie Infinity Shards (AXS) – 5.04% to $45.06. AXS goes for a slow slide, despite news of Binance retrieving some of the funds from the Ronin-ETH bridge.

Gala Games (GALA) – 5.33% to $0.18.

WAX (WAXP) – 2.57% to $0.26.

The top assets remain mostly unchanged. NFT action in the past week saw about $44M in secondary sales, though results varied by games. The P2E token market remains risky and volatile, though some games are still in the zone of meaningful earnings based on a mix of game odds and token market price.

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