P2E games are shifting their approach. Older, hot games like Axie Infinity and Pegaxy, are looking for ways to return to profitability. New projects are also coming up, with games like Ni No Kuni: Cross Worlds coming in from the traditional gaming world, with mixed acceptance. Games like Genopets are also trying to roll back the earnings into their game economy, and newer games deliberately bring more difficulties to cashing out of tokens.
Top Events of the Week
- Genopets Releases Details on KI Token Distribution
- The Sandbox on Coinbase: Win SAND Tokens for Trading
- Gala Games Prepares for June 9 Gunslingers NFT Sale
- Parallel Alpha Prepares for NFT Pack on June 11
- Avalanche Games to Watch This Summer
Leading Games by Number of Users
WAX is once again the network for some of the busiest games, offering a model that deviates from other P2E models. The past week saw some of the traditionally strong games lose users. Axie Infinity barely reaches 10K players per day on Ronin network. Alien Worlds is now the top game, while Splinterlands lost its leading position after weeks at the top.
|Game||Users||Change 24 hours|
P2E Token Price Action
Weekly Winners: Gala Games (GALA) + 0.27 to $0.07. Gala Games was the only asset to end the week with a small gain, after news of expanding its collection of games and attempting to spread some of its headlines into mainstream gaming stores.
Most other assets remained in the red, after following the general crypto market direction.
My Neighbor Alice (ALICE) + 1.28% to $2.73. My Neighbor Alice is still far from its alpha release, but the ALICE token is expecting to break out.
Weekly Loser: WAX (WAXP), down 10.71% to $0.11. WAX is still a top chain in terms of usage, but is not among the most actively traded crypto assets.
The market cap of all P2E tokens sank to $7.27B, slowly deflating as game tokens lose the faith of investors.
Decentraland (MANA) -3.83% to $0.93. The token performance does not reflect the game’s activity and social media hype. Decentraland is still a highly active project.
The Sandbox (SAND) -3.15% to $1.23.SAND started trading on Coindesk, with additional chance to win rewards for each $100 tokens purchased. The Sandbox also continues to bring in new partners for NFT collections.
Axie Infinity Shards (AXS) -5.29% to $18.51. AXS keeps losing positions under $20 as the game attempts to rebuild its earnings and advancement model.
Gala Games (GALA) +- 0.2% to $0.071. GALA hovers near its price position for weeks now, while the game team itself is busy with updates and new games.
Ethereum (ETH) is down to $1,738.77 after another pre-weekend market downturn. Ethereum had a relatively successful week, testing a move to ETH 2.0 on the Ropsten testnet. But there are still doubts on how a full migration on the main network will affect projects. Currently, gaming projects are using either L2 solutions like Immutable X, or moving to other L1 networks, with Solana and Avalanche the two most prominent choices.