The past month showed P2E gaming is adaptable to the new market conditions. June was one of the worst months for Bitcoin and the crypto market in general, but building and upgrades continued for both small and big games. As usual, the NFT game, GameFi market and P2E is a mix of crypto-first and game-first projects, all of them seeking the right mix of innovation and a more traditional approach similar to Web2 games.
Top Events of the Week
- Axie Infinity Introduces Tournaments, Land Staking
- Crabada Partners with Multi-Chain NFT Project Clashub
- Ronin Bridge Reopens with New Fund Deposits
- TimeShuffle Fireside Chat: Challenges and Opportunities on Avalanche Blockchain
- Pegaxy Plans New Game Additions Coming on July 7
Leading Games by Number of Users
The big change among top-ranking games is that Axie Infinity is tracking its players again through DappRadar. As Origin heads to its Phase 2 development, there are tournaments using the version’s limited release. Axie’s player count increased from around 10K players a few weeks back to above 51K players, levels comparable to high-level activity during previous playing seasons. The encouraging statistics happens after the end of Season 21, showing small-scale tournaments can replace the mass access leaderboards.
| Game | Previous Week | Current |
| Alien Worlds | 196.48K | 200.32K |
| Splinterlands | 146.03K | 167.35K |
| Farmers World | 126.64K | 105.02K |
| Axie Infinity | – | 51.35K |
| Upland | – | 38.97K |
P2E Token Price Action
Weekly Leader: The Sandbox (SAND) up 0.12% to $1.08. The Sandbox remained almost without change, but survived the deeper losses incurred by other tokens. The Sandbox remains one of the top metaverses, opening a new set of special events in July.
Most P2E assets backtracked during a stagnant week of losses, but the downside was limited to about 5%.
Weekly Loser: Axie Infinity Shards (AXS) – 18.56% to $13.98. AXS sank despite positive news of game development. AXS may come under pressure after land owners sell their daily earnings from land-based staking.
The market cap of all P2E tokens sank to $6.34B, remaining relatively flat over the past month.
Decentraland (MANA) -7.79% to $0.84. MANA still fails to recover above $1, though the project keeps its incentives and activity.
Axie Infinity Shards (AXS) -18.56% to $13.98, becoming week’s biggest loser among top P2E tokens.
The Sandbox (SAND) remained with no losses at $1.08, the most unaffected token from last week’s weak trading results.
Gala Games (GALA) -11.83% to $0.05. GALA established itself around the $0.05 range, focusing more on upcoming game headlines than token price action.
Ethereum (ETH) remains around $1066.80, as the market is overall stagnant with a sentiment of awaiting a bigger downturn in case of renewed panic. Ethereum remains instrumental to P2E and has its own ecosystem of L2 solutions for speed and fee purposes, but faces active competition from L1 networks like Avalanche.
