Gaming is here to stay for blockchain projects, though a difficult period is expected. Most major games are seeking to overhaul their prize model, as affording a regular income is not viable. This is especially true during the bear market, when game tokens cannot hope for a rally, and some cannot even gain enough liquidity and listings.
Top Events of the Week
- Illuvium Launches Long-Awaited Land Sale
- Solana Has Third Outage in 90 Days
- Pegaxy Introduces Genetic Fusion
- Vulcan Runner 3.0 Launches on Vulcanverse
- Axie Infinity Brings Third Party Content Grants
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 |
| Alien Worlds | 180.59K | -4.6% |
| Farmers World | 151.46K | -0.07% |
| Splinterlands | 89.5K | -30.91% |
| Upland | 44.56K | -0.50% |
| Crypto Blades | 29.25K | -12.46% |
| Sunflower Land | 15.4K | -17.91% |
| Pegaxy | 11.93K | +13.87% |
P2E Token Price Action
Weekly Winners: WAX (WAXP) +14.25% to $0.12. WAX remains the busiest blockchain, despite the flat WAXP price action. Players on WAX ecosystem games are removed from crypto trading, while WAX is also not one of the most active tokens.
Axie Infinity Shards (AXS) + 5.02% to $19.93. AXS aims to keep to the $20 level, despite the game’s outflow of users and diminishing returns. AXS still valuable as a potential reward for Axie Lunacia land plot owners.
Weekly Loser: WEMIX (WEMIX) -18.05% to $3.56. After a week of higher than usual gains, WEMIX is correcting just as rapidly.
The market cap of all P2E tokens sank to $7.56B, stabilizing for more than two weeks at that level. With Bitcoin (BTC) near $30,000, other assets manage to keep some of their stability. Most games also attempt to phase out or burn their tokens to boost prices.
Decentraland (MANA) +0.7% to $0.97. The Decentraland project is busy, but this does not reflect immediately in the price of MANA.
The Sandbox (SAND) -5.72% to $1.29. The Sandbox recently added Voxies to its game, and presented a tool to organize metaverse events. The game continues development as a top metaverse hub despite the low price of SAND.
Axie Infinity Shards (AXS) $19.93 ahead of the weekend, stabilizing around $20.
Gala Games (GALA) – 2.7% to $0.071. GALA remains stagnant, with the project offering rewards for node operators and other NFT perks.
WAX (WAXP) at $0.12 after this week’s recovery. Top WAXP games Wombat Dungeon Master and Alien Worlds still boost the chain’s visibility.
Ethereum (ETH) is down to $1,760.06, further undermining the token liquidity of decentralized finance and by extension, P2E games. Not all games use the Ethereum network, but the token is key to trading. With the crash of the Solana network, there is now another debate for L1 blockchains vs. Layer 2 solutions for Ethereum. There is no clear answer on which type of solutions games will use, to achieve the lowest costs for players, as well as trading infrastructure.
