The crypto market once again showed it is unpredictable, sending BTC above $20,000 and ETH above $1,500. This gave a boost to game tokens, though most of the assets remain stagnant near their low levels. The practice of organizing tournaments with short-term rewards continues, and replaces idle games or regular payouts. Games keep joining the Web3 and P2E space with varying models, offering both free and paid NFT access.
Top Events of the Week
- Undead Blocks Opens New $15K Prize Pool in Weekend Tournament
- Pegaxy Tweaks Racing Slots for Better Winning Chances
- Sunflower Land Mints Bumpkins, Clothing Items
- The Sandbox Celebrates 1000 Days of Metaverse
- Dexi Brings New Governance Tools
Leading Games by Number of Users
The leading games mostly retain their usual order, though Axie Infinity is barely holding into the top 10 of games, as it gets closer to the end of its Origins Season 1. The top games also include products supported by Animoca Brands, which also have a sustainable model of attracting traditional gamers.
|X World Games||–||26.39K|
P2E Token Price Action
The BTC recovery sparked some movement among P2E tokens as well. Most tokens were in the green and the market recovered a previous tier of stability.
Weekly Lagger: Axie Infinity (AXS), -0.9% to $9.09. AXS slowed down its gains and only held above $9, with no signs of recovering to a higher tier. Despite the game’s popularity, the lack of a bull market to trade is cutting into AXS.
The market cap of all P2E tokens recovered to $5.4B, with some tokens gaining close to 10%.
The Sandbox (SAND) -+9.33% at $0.80. The Sandbox climbed to the top in terms of market cap, after recent social media hype and a special SAND giveaway.
Decentraland (MANA) +5.56% to $0.64. MANA inched up, though not enough to keep its top spot. The token remains bound in a range.
Axie Infinity (AXS) flippened GALA when it stood at $9.09, as the other asset could not catch up after the previous week of deep losses.
Gala Games (GALA) +7.24% to $0.036. Gala Games remains one of the high-ranked projects with significant representation on gaming platforms, but the GALA token is stagnating.
Ethereum (ETH) had a fast rally above $1,500, affecting some of the DeFi and GameFi tokens. Illuvium (ILV) came out of hibernation, rising by more than 27% to the $67 range. The recent market conditions show there is some leeway for short-term growth, though conditions are still far from a bear market.