P2E Moon Watch: The Gaming Week in Review (July 29 – August 5, 2022)

Ethereum (ETH) above $1,600 gives support to the gaming token market.

The selection of top games is shifting and becoming more independent from the fluctuations of the crypto market. The newest batch of games is showing that P2E is here to stay, but there are new contenders for top games with higher demands on product completion. Instead of games selling tokens first, the new most active games include already completed desktop or mobile versions, which are adding a token component on the side. Over the past months, networks like Solana also went through a boom of new projects.

Top Events of the Week

Leading Games by Number of Users

Top games remain roughly the same, with heightened competition for which game to enter the top 5. Newer P2E games also have player activity that is not reflected on the blockchain, as not all in-game events cause a blockchain transaction. Farmers World, which was one of the busiest games, is no longer tracked by DappRadar.

GamePrevious WeekCurrent
Alien Worlds244.58K230.48K
Axie Infinity32.36K27,75K
Era: Game of Truth26.59K26.91K
Farmers World107.26KNo tracking

P2E Token Price Action

Weekly Leader: Gala Games (GALA),  +11.05% to $0.06. GALA remains at a low per-unit price, though still joining the recovery this week as traders were still on the lookout for valuable tokens. Gala Games is also one of the more resilient gaming platforms with representation on mainstream gamer services.

Weekly Lagger: Axie Infinity (AXS) up 0.28% to $17.89. AXS bounced off its lows, though the asset is still waiting for more positive news on game adoption.

The market cap of all P2E tokens increased to $7.83B for another week in a row, as the market recovery continues with small additions.

Decentraland (MANA) +7.40% to $1.03. MANA finally broke above the $1 tier and remains one of the most liquid gaming tokens.

The Sandbox (SAND) -0.27% to $1.31. SAND remained almost unchanged, preserving the gains from the past two weeks.

Gala Games (GALA) +-11.75% to $0.06, moving slightly above its usual range to become the week’s leader in percentage gains.

Ethereum (ETH) had a more turbulent week, slipping to the $1,500 level and later regaining to $1,663.50. Bitcoin (BTC) also drove the markets, moving around $23,000. Gaming tokens, however, remain relatively stable despite the pressures of the bear market.

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