P2E Moon Watch: The Gaming Week in Review (July 1 – July 8, 2022)

The past week saw some recovery on the market for crypto coins, giving relief to some of the games. The P2E model remains difficult to balance, but most projects continue to build their games and offer updates or perks. The competition among top games accelerated, with more networks aiming for their share of P2E projects.

Top Events of the Week

• Pegaxy Offers Avatar NFT
• Sunflower Land Adds Dynamic NFT Playable Farmers
• Gunfire AVAX Climbs as Top Avalanche Game
• STEPN Builds Ape Realm on Ethereum
• TimeShuffle Opens Founders Pass Sale

Leading Games by Number of Users

The leading games remain almost the same, though Gameta is gaining more attention and climbing up the ranks. While some smaller P2E games take the lead for their respective blockchains, the most active ones owe their speed to WAX blockchain. Axie Infinity is still ranked among top 5 games, based on Origin free-to-play users.

Game

Previous Week

Current

Alien Worlds

200.32K

217.58K

Splinterlands

167.35K

172.29K

Farmers World

105.02K

104.79K

Upland

38.97K

40.16K

Axie Infinity

51.35K

38.9K

Gameta

–

31.39K

Era7: Game of Truth

–

24.4K

P2E Token Price Action

Weekly Leader: The Sandbox (SAND) up 13% to $1.23. The Sandbox had one of the more significant recoveries, taking its native token to a higher range. SAND is one of the most liquid gaming assets with a solid project behind it, looking more attractive at its lower range. 

P2E tokens recovered based on the general rally, starting with Bitcoin (BTC) returning above $21K. 

Weekly Loser: WEMIX – 4.8% to $2.61. WEMIX represents a different trading sentiment, though it remains the token of one of the most active game blockchains.

The market cap of all P2E tokens inched up to $6.8B, adding around $500M in value as most of the leading tokens rallied during the past week.

Decentraland (MANA) +7.47% to $0.90. MANA is yet to regain the $1 level, and most of the rally is due to the general market recovery and a bounce from recent lows.

The Sandbox (SAND) “flippened” AXS and rose to around $1.24, to become one of the top gainers.

Axie Infinity Shards (AXS) +6.68% to $15.02, as the game continues to reach out to its community. The success of Origin is notable even without a P2E component, and the game has added short-term tournaments and land staking as a source of income.

Gala Games (GALA) +5.63% to $0.058. GALA remains relatively stable at its current levels, working on adding games and short-term rewards during special game events.

Ethereum (ETH) recovered above $1,200, and showed its network is still viable for P2E games and NFT. Immutable X keeps building and added a tool to monetize L2 ETH tokens directly, with no need to bridge to the main network.