P2E Moon Watch: The Gaming Week in Review (August 12 – August 19, 2022)

The gaming market with a blockchain component is trying to gain independence from the volatility of crypto markets. This is not immediately possible, but new projects keep emerging while offering even more completed games with complex experiences. At the end of the trading week, crypto assets had another crash, led by Bitcoin (BTC) and Ethereum (ETH), which erased more than 8% in another flash crash. At the same time, gaming keeps attracting players with tournaments and prize pools. 

Top Events of the Week

• Crabada Adds Battle Bounty Game
• Bomb Crypto Adds Idle Mining, New Skins
• Genopets Adds Habitat Management
• Vulcan Forged Token Adds Price Discovery
• Age of Gods Announces Game Launch

Leading Games by Number of Users

Top games saw Axie Infinity climb the charts, due to its recent Origin season launch. Axie is now the fourth most visited game. Other leading games remain the same, while a new batch of up and coming games is also growing their player count. A new game, PlayMining, has joined the list of leaders.

Game

Previous Week

Current

Alien Worlds

220.21K

188.03K

Splinterlands

169.35K

153.83K

Farmers World

98.74K

90.13K

Gameta

51.25

54.36K

Upland

38.06K

41.03K

Axie Infinity

59.66K

59.66K

P2E Token Price Action

The past week saw most token prices slide by as much as 21%, triggered by the overall crypto market crash. Most leading tokens were among the losers with significant price cuts after a few weeks of upward momentum. The current levels were reached after a series of relief rallies, some linked to positive in-game news as in the case of Axie Infinity and its Origin Season 0.

Weekly Lagger: Smooth Love Potion (SLP), down 22% to $0.004. Despite slower production in Origin and token burns for tournaments, SLP keeps to its lower range.

The market cap of all P2E tokens slid rapidly to $6.76B after the latest market crash.

Decentraland (MANA) -17.59% to $0.89. MANA is still at the lead, though moving under $1 again with a rapid crash.

The Sandbox (SAND) at $1.08, losing 17.08% in the past week. SAND retains the most gains as the project keeps adding partnerships and may be closer to Alpha Season 3.

Axie Infinity (AXS) -18.54% to $14.03, again the third largest token. Axie Infinity remains popular, though not immune from market conditions.

Gala Games (GALA) -13.96% to $0.05. GALA remains range-bound, with relatively small absolute change. The chief driver of GALA remains the token’s staking in various types of nodes.

Ethereum (ETH) sank back to $1,700 during a flash crash on August 19. ETH remains volatile as more traders bet on a return to $1,300. ETH remains a driver of the P2E space, though some ecosystems remain more immune to its price. NFT items are also affected when the crypto bear market turns lower.