Crypto markets and by extension P2E tokens had a bullish week, with most assets regaining some of their lost positions. With BTC touching $24,000 and ETH above $1,700, smaller tokens also reacted immediately. But what is new in the space is that more of the already completed games with mobile versions are also adding NFT or token assets to offer an earning component to already established games.
Top Events of the Week
- Axie Infinity Opens Classic Tournament with $500K in Prizes
- Pegaxy Introduces Pega Points System for Guilds
- Vulcan Forged PYR Token Now Available with Debit Card Purchase
- Idle Luca Offers Onboarding Airdrops
- Undead Blocks Offers Multi-Player Tournament
Leading Games by Number of Users
The list of top games returned to well-established games, with some of the short-term sensations stepping back. Outside top games, competition remains strong with new ecosystems launching daily. However, new P2E games struggle to gain users and liquidity, instead trying to offer different models of earnings by tournaments or special prize pools instead of a regular income.
|Era: Game of Truth||–||26.59K|
P2E Token Price Action
Weekly Leader: Axie Infinity Shards (AXS), +11.61%% to $17.86. Axie Infinity proved its broken P2E model is no obstacle to growth. The game currently organizes a summer breeding event for rare features Axies, and prepares for its Barcelona meetup. This boosts attention for the AXS token, which also benefits from the overall market recovery.
Weekly Lagger: Smooth Love Potion (SLP) down 3.78% to $0.004. SLP stalled at this position, but at least bounced from its all-time lows.
The market cap of all P2E tokens increased to $7.5B, following the general crypto trend.
Decentraland (MANA) +0.91% to $0.96. MANA still failed to regain the $1 level and only had marginal improvement after previously stronger weekly gains.
The Sandbox (SAND) -5.74% to $1.31. SAND is returning to the mean after a few weeks of outsized gains.
Gala Games (GALA) +-2.27% to $0.053, once again leaving the token within its usual range
Ethereum (ETH) retook the $1,700 level, after dynamic conditions on crypto markets. ETH caused mass liquidations to all traders expecting a price drop, and boosted the gaming and DeFi spaces. ETH remains an important element in liquidity and transaction capacity, as well as a marketing tool for some of the more prominent gaming and NFT projects.