Categories
Gaming NFT

The Economics of the Galactic Metaverse

As Facebook (Meta) attempts to rebrand itself, media outlets are increasingly asking what is the metaverse?

One simple way to answer the question would be to look at some of the metaverses already in existence, such as The Sandbox and VulcanVerse. At first glance, they look a lot like the strategy games and MMORPGs that have been around since the days of World of Warcraft.

A better question then might be how metaverses differ from those traditional games. What prevents them from laying down arbitrary rules, and how does the blockchain affect the in-game economics?

<div class =”code”><p class = “twitter-tweet”>https://twitter.com/staratlas/status/1445834745326231555?ref_src=twsrc%5Etfw</p></div>

The answer to those questions may now lie in outer space. StarAtlas is a new metaverse that pitches itself as a “grand strategy game of space exploration, territorial conquest, political domination, and more.” You can think of it as a kind of blockchain-based Elite, and it’s the blockchain (and the game’s storyline) that makes the difference.

StarAtlas is built on Solana and uses two kinds of tokens.

ATLAS is the game’s own currency. Players can use the coin to buy digital assets such as ships, land, components, and to pay the crew. The token is earned through in-game activity and can be generated through sales. StarAtlas notes that, unlike many crypto projects, the development team holds no stake in the undistributed token supply.

<div class =”code”><p class = “twitter-tweet”>https://twitter.com/Ashes_LS/status/1470659080083558401?ref_src=twsrc%5Etfw</p></div>

It does, however, hold a stake in the other token. POLIS allows holders to have jurisdictional ownership over parts of the StarAtlas world.

Players with POLIS will be able to restrict some activities, lay down new laws, and even impose taxes and tolls on other players. StarAtlas stresses, however, that POLIS “represents voting rights, not dictatorial ownership.” Players would need to collaborate in order to create these rules and levies. 

The idea is to avoid the kind of centralization that led a 16-year-old Vitalik Buterin, founder of Ethereum, to see “what horrors centralized services can bring.”

After three years of happily playing World of Warcraft, Blizzard removed the damage component from its warlock’s Siphon Life spell. A decentralized governance open to holders of POLIS is less likely to lay down rules that harm gameplay. 

The first phase of POLIS distribution will see 20 percent of the governance token made available in a “Galactic Asset Offering.” Decision-making will remain centralized for the first two or three years of game development but POLIS will later be generated only but the staking of ATLAS.

In other words, the more committed players are to the game, and the more they invest in it, the more influence they’ll have over its development. 

For people wondering what a blockchain-based metaverse is then, the answer is that it’s a world, or even a universe, with its own economy and a democratic governance structure powered by its most committed residents.

Categories
Gaming NFT

Ubisoft and Aleph.im Join Forces for NFTs in AAA Games

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The biggest term that remained at the tip of everyone’s tongues in 2021 was NFTs (Non-Fungible Tokens). Major entertainment entities, sports leagues, iconic food brands, etc. have stepped into the burgeoning Web 3.0 space to produce one-of-a-kind digital assets of their own. In the gaming space, AAA publishers/developers such as Square Enix, Sega, and Capcom have either taken their first steps into the world of NFTs or made it abundantly clear that they’re researching ways towards doing so.

Ubisoft is another AAA gaming staple that has begun making some headway into the NFT medium. The French publisher/developer’s biggest foray into NFTs to date is the recently announced Ubisoft Quartz enterprise. This brand new venture gives players the ability to get their hands on “Digits,” which are described as “the first Ubisoft NFTs (non-fungible tokens), playable in an HD game and relying on an energy-efficient technology.” And the first AAA game to utilize that new concept is Tom Clancy’s Ghost Recon Breakpoint, which incorporates NFTs in the form of three signature in-game items – the M4A1 Tactical | Wolves firearm, the Wolf Enhanced Helmet A, and the Wolf Enhanced Pants. With such a huge Web 3.0 endeavor underway, Ubisoft chose to partner up with a legitimate force within the space to see its vision through.

Ubisoft

That decision has led to the Ubisoft Quartz initiative selecting its main technology partner in the form of Aleph.im, which is “a cross-blockchain decentralized storage and computing network.” Through this partnership, Aleph.im will provide a decentralized storage system of over 70 nodes for Ubisoft Quartz’s NFT metadata. The ownership of those digital assets will be tracked over the Tezos blockchain, while the ongoing history of those NFTs (i.e. previous players who have owned an NFT, player achievements, etc.) should certainly prove valuable for marketplaces such as Rarible and Objkt. This isn’t the first time Ubisoft has linked up with Aleph.im – earlier in the year, Ubisoft ingrained a core channel on Aleph.im’s decentralized computer network. Seeing as how Aleph.im is partnered with Ubisoft’s Paris-based Entrepreneurs Lab program, this move makes perfect sense for both companies.

Aleph.im

Judging by recent comments regarding both companies’ newfound partnership, it’s clear that Ubisoft and Aleph.im are excited about the possibilities that will arise from it. Didier Genevois, Blockchain Technical Director at Ubisoft, stated the following: “With Ubisoft Quartz, we’re taking the first step to leverage blockchain’s decentralized approach to open new opportunities for our players by making them true stakeholders of our games. To fulfill the technology’s promise, we needed players to actually own their Digit and be able to leave their mark in their favorite game. Aleph.im’s role was key in building this experiment by allowing us to decentralize the storage of the Digits’ video asset and metadata.”

Jonathan Schemoul, Aleph.im Founder and CEO, also proclaimed his excitement regarding the burgeoning NFT movement: “The incorporation of NFTs into a mainstream game is a revolutionary moment for NFTs. Dynamic NFTs have never been done before and this marks the first time NFTs will evolve over time as various players use them in-game. Aleph.im is proud to be at the forefront of this new era where blockchain technology and decentralized solutions for NFTs play a pivotal role in traditional gaming.”

Categories
Gaming NFT

World Chess Champion Garry Kasparov Launches First NFT Collection with 1Kind

As more people begin to understand the type of unique experiences NFTs can offer, more industries are starting to take advantage of the opportunity to offer fans and consumers something special. One of the new brands that will be offering such NFTs is a platform called 1Kind, which is partnering up with World Chess Champion Garry Kasparov for his first NFT collection.

What is 1Kind?

1Kind is an NFT marketplace founded by Gadi Glikberg and Kristian Heahndel. This NFT marketplace aims to carefully select and collaborate with some of the most profound artists, musicians, and creators to share their personal experiences through the 1Kind platform in the form of NFTs, offering collectors in-person experiences with the artists themselves that can only be had through the ownership of the digital assets.

<div class =”code”><p class = “twitter-tweet”>https://twitter.com/WEARE1KIND/status/1469148642615250946?ref_src=twsrc%5Etfw</p></div>

The first auction for the 1Kind NFT platform is set to go live today, December 14th in partnership with legendary chess champion Garry Kasparov, and will continue until December 17th. Garry will be sharing his life moments with everyone through his NFTs, offering collectors a remarkable look into his life.

Who is Garry Kasparov?

Garry Kasparov is a Russian chess grandmaster, and former World Chess Champion for 21 years straight, from 1984 to 2005. He has played against the greatest minds and even machines in history, and now he is sharing his journey with you on the blockchain.

As a young boy, Garry started playing chess when he was only 6 years old, by the age of 13, Garry became the Soviet youth champion. Three years later he won his first international tournament. 

Nowadays, Garry is known as a global humanitarian and is a beloved mentor to modern-day chess prodigies. Garry is widely considered to be one of the greatest chess players of all time.

Garry Kasparov

Modern technology has always been part of my life. That’s why I’ve decided to share my legacy on the blockchain.

This Garry Kasparov drop will occur in three stages. Each NFT selected will have a very special story to go with it. Here is what the how the project will be broken up:

The 3 Phases:
1Kind

The first phase, Foundations NFTs, celebrates special childhood and family memories that shaped Garry into a world-beating champion. The second phase, Global Player NFTs, offer a rare window into Garry’s early years on the road to becoming a Grand Master and the longest-reigning World Champion. The third phase, Legend’s Legacy, honors Garry’s legacy beyond the chess board; as a mentor, a humanitarian, an activist, and an author.

1Kind

Some of the notable NFTs from Phase 2 include Game Face, Karpov vs. Kasparov, and Game 24 Scoresheet. The Game Face is a rare and candid photograph caught as Garry locks eyes with his opponent, Romanian Grandmaster, Mihhai Suba from Chess Olympiad, taken in Lucerne, Switzerland, in November 1982. Karpov vs. Kasparov is an illustration of the Final World Championship Match when Garry became World Champion for the first time. It depicts Garry’s moment of victory where he beat his eternal opponent, Anatoli Karpov at the World Championship Match held in the Hall of Columns in Moscow, Russia, in November 1985. The Game 24 Scoresheet is a rare memorabilia of Garry’s personal scoresheet, signed by both him and by his opponent, Anatoli Karpov from the 1985 World Championship, the game that made Garry a World Champion for the first time.

1Kind

The auction will finish up with a Platinum edition NFT dropping on December 17th. This Platinum NFT includes an exclusive in-person experience with Garry Kasparov that will allow the collector to dine with Garry at the five-star The Plaza Hotel in NYC. Following this amazing experience will be an opportunity to interact with Garry on his involvement in the world of chess.

Garry is also aiming to give back to the community by donating 10% of the winning bid to Kasparov Foundation that provides scholarships to children who are raised by single mothers.

If you want a chance to collect any of these extremely special NFTs, all you need to do is visit the 1Kind marketplace to place your bid. Bidding opens at 4pm EST this afternoon, December 14th, 2021.

Categories
Gaming NFT

An Intro to TokenTrove, the Premier NFT Marketplace on Immutable X

Since the boom in early 2021, the NFT community has been clamoring for a more carbon-neutral protocol than Ethereum to mint their projects. As we await ETH 2.0, which will transition the protocol from Proof of Work to Proof of Stake (effectively eliminating the carbon footprint of ETH mining), layer 2 solutions have emerged as a sustainable means through which to use Ethereum.

Immutable X is the leading layer 2 solution for Ethereum right now, and TokenTrove has quickly emerged as the premier marketplace for exchanging NFTs on Immutable. We caught up with the brand’s two founders, Steven and David Bauschlicher to hear about the journey of the platform and its future in 2021.

What is TokenTrove?

Started in late 2018, TokenTrove was initially built as a service for the popular blockchain card game Gods Unchained, integrating statistics and other information around the game and its assets that don’t exist on the blockchain. Based on what was on the market at the time, Steven and David posed the question: “Why don’t we make a more specialized marketplace specifically for the game?”

From the genesis of the idea to when Gods Unchained launched their cards on the main net, about 4 months passed. In the early days, TokenTrove boasted the majority of sales for Gods Unchained’s assets.

As time has elapsed, David and Steven have refocused on being a marketplace for an array of different projects. “Our goal is to be a more community-driven marketplace,” Steven tells me. Rather than including every project you can shake a stick at, they’re currently focused on a smaller roster of projects, including resources unique to each collection on their marketplace. “If someone wants to integrate as a custom collection, we can integrate anything they want.”

“We wanted to make it a more user-friendly, gamer friendly site,” David tells me on the incorporation of numerous resources for each included game or project. These supplemental resources make the platform especially helpful for those who are new to the crypto space, but understand the value of having a token to buy and sell—something extremely easy to understand if you come from the gaming world.

After Gods Unchained, they added Guild of Guardians and Ember Sword, and at the time of writing have incorporated over 30 projects to their marketplace, with many more to come. They’ve tried to focus on NFT projects with utility, as they can provide unique tools for projects like Ember Sword, such as maps for games, statistics, and other features that don’t live on chain.

<div class =”code”><p class = “twitter-tweet”>https://twitter.com/TokenTrove/status/1450955609759752198?ref_src=twsrc%5Etfw</p></div>

TokenTrove x Immutable X

“We’re total ETH fan boys,” Steven jokes to me. “We love working with ETH technologies and we realized we needed a layer 2 solution,” they tell me on the integration of projects on Immutable. “A lot of larger players haven’t moved onto layer 2 too much,” Steven tells me with regard to a lot of the dominant marketplaces right now.

“We think a lot of people are going to move over to Immutable X,” they tell me. By incorporating a wide array of customization options, TokenTrove differentiates itself from platforms like OpenSea by curating their services specifically to each project. “We built something we wanted to use. We saw that it didn’t exist, so we built it.”

Categories
Gaming NFT

This Week in the Axie Infinity Market (Dec 1st – Dec 8th)

Axie Infinity had a great showing in Miami during Art Basel last week. There were meetups and IRL events that brought the community together. Members of the team even met with the “Bitcoin Mayor” himself, Francis Suarez.

<div class =”code”><p class = “twitter-tweet”>https://twitter.com/Jihoz_Axie/status/1468001924943392777?ref_src=twsrc%5Etfw</p></div>

Recently, Axie Infinity made a big announcement: the SLP breeding fees are being tripled. And the AXS fee is being halved.

This comes after the SLP has been declining in value. This will take approx. 10 days to be fully implemented.

This and more in this week’s recap of the Axie Infinity market.

The numbers in this recap were sourced from Katana analytics and Axie’s Marketplace Tracker.

Market Volume:

As of this writing, over $112 million worth of Axies and land have been traded in the past week, with over 514,000 Axies trading in the past seven days and less than 600 lands changing hands. This is a decrease from last week, of nearly 40 million dollars. The decrease in trading volume can most likely be traced to the dip in the overall crypto space.

Bring it to the floor:

The absolute cheapest or lowest price of Axies is what we call the floor.

In the first few iterations of this market recap, I took the cheapest one or two Axies on the market and analyzed that as the floor. After crunching my numbers, I have found that it’s better to focus on the lowest ten (10) Axies on the market instead.

The range this week is between $100 and $102. ETH is trading at a lower range than it had been this time last week. The strong correction the industry had last week is certainly a heavy factor.

SLP (Smooth Love Potion):

To breed your Axies, you need to spend the in-game currency SLP, which can be earned in-game or bought/sold on crypto markets like Binance.

I wrote last week that an increase to the SLP breeding fee could create enough buying pressure for a rally.

And boy did Axie Infinity deliver. They announced a tripling of the SLP fee. For every new Axie created, it’ll cost no less than 1800 SLP being burned or permanently removed from the ecosystem. Cost increases the more times either of the Axie parents has been bred.

The announcement created a large spike that brought SLP back to 5 cents. But the longer trend is a gradual decline from the AXS staking excitement that bled into the SLP price. It’ll take a few weeks before we see how much the increased breeding costs affects the SLP supply. The price is currently at $0.045.

AXS (Axie Infinity Shard):

Another barometer of the Axie economy is their governance token AXS. Users who hold these tokens can vote to shape the direction of the game. They can also now stake this token to vote and earn more AXS.

AXS has felt the splash damage from the large dip that hit the crypto sphere. It is currently trading around $109, declining heavily from the $140 range it enjoyed before the big industry dip.

Something excited that happened was the AXS breeding fee was halved again. Now the AXS cost is 0.5 AXS.

<div class =”code”><p class = “twitter-tweet”>https://twitter.com/AxieInfinity/status/1468412408918122499?ref_src=twsrc%5Etfw</p></div>

AXS Staking

Out of roughly 65.8 million AXS circulating, we have over 20.6 million AXS staked. The dashboard has an estimated APR of 114%. While the amount circulating has minimally decreased, we have seen no major difference to the APR or the amount staked.

While we haven’t seen any drastic changes, that could change after the AXS breeding fee is halved.

This has been this week’s Axie Infinity Market recap. If you have any questions or requests for future editions, be sure to follow us on our NFT centered Twitter @NFT137 for your NFT fix!

And be sure to check out our 25 days of POAP.

Categories
Gaming NFT

This Week in the Axie Infinity Market (Nov 24th – Dec 1st)

As we recover from eating too much turkey, we can look to see the aftermath from people learning about Axie Infinity. At my Thanksgiving, I was surprised to meet someone who was familiar with the game. Our friend’s wife is from the Philippines, and she recognized it. She told me how the national news channels cover the game and people are buying homes thanks to SLP. They went on to talk about their personal friends streaming the game on Facebook. I was one of the first 10,000 players and had purchased 3 of the first 200 Axies ever made. That was the first time in 3 years someone in my personal circle knew about the game before I brought it up.

With land gameplay integration on the horizon, I have been keeping an eye on land prices, but I haven’t been updating them on a weekly basis. I was waiting for integration, because the numbers will be skewed. On that note, we had a massive land sale recently. A genesis land plot sold for 550 ETH or $2.5 million. It was the largest ever sale for an Axie land.

Times are a changing!

<div class =”code”><p class = “twitter-tweet”>https://twitter.com/AxieInfinity/status/1463876867245625346?ref_src=twsrc%5Etfw</p></div>

This and more in this week’s recap of the Axie Infinity market.

The numbers in this recap were sourced from Katana analytics and Axie’s Marketplace Tracker.

Market Volume:

As of this writing, over $154 million worth of Axies and land have been traded in the past week, with over 550,000 Axies trading in the past seven days and less than 700 lands changing hands. This is a slight decrease from last week, where we saw a surge in volume. It could be as we get closer to the holiday season we have less active players and traders. It will be interesting to see if that big land sale jumpstarts more market activity.

Bring it to the floor:

The absolute cheapest or lowest price of Axies is what we call the floor.

In the first few iterations of this market recap, I took the cheapest one or two Axies on the market and analyzed that as the floor. After crunching my numbers, I have found that it’s better to focus on the lowest ten (10) Axies on the market instead.

The range this week is between $110 and $112. ETH is trading at a higher range than it had been this time last week. Looking at the ETH chart, it’s possible it may go on another run over the next day.

SLP (Smooth Love Potion):

To breed your Axies, you need to spend the in-game currency SLP, which can be earned in-game or bought/sold on crypto markets like Binance.

SLP is continuing its decline from the run up to 12 cents we saw a month ago. It is currently trading at just under 6 cents. The token has been trading sideways the past few days. An increase in the breeding fee or other SLP usecase (such as buying Axies) could easily create a rally.

AXS (Axie Infinity Shard):

Another barometer of the Axie economy is their governance token AXS. Users who hold these tokens can vote to shape the direction of the game. They can also now stake this token to vote and earn more AXS.

AXS has started to climb back up. It previously had dipped to the $120 range before getting back to the $140s. That big land sale may have led to more users buying AXS to participate in the governance of this economy.

AXS Staking

Out of roughly 65.8 million AXS circulating, we have over 20.7 million AXS staked. The dashboard has an estimated APR of 113%. While the amount circulating has minimally increased, we have seen no major difference to the APR or the amount staked.

While we haven’t seen any drastic changes, that could change if AXS price continues to climb.

This has been this week’s Axie Infinity Market recap. If you have any questions or requests for future editions, be sure to follow us on our NFT centered Twitter @NFT137 for your NFT fix!

And be sure to check out our 25 days of POAP.

Categories
Gaming NFT

Another Use Case for Play to Earn Gaming: Quiz Games Like Mimir

Video gaming is now a multi-billion dollar industry. Triple-A games have budgets the size of Hollywood blockbusters. Professional gamers can earn as much in a year as A-list celebrities. More than half of all US households now own a games console. An activity that was once the preserve of nerds and computer geeks has long been as mainstream as watching television and listening to music. 

So play-to-earn should have spread like wildfire. Not only does it promise players that they can continue to enjoy their games. It also promises to pay them for their fun. As players build their metaverses or pitch their NFTs into battle, they can load up on tokens that they can use to purchase more in-game products or convert into other cryptocurrencies, and even into fiat.

And yet play-to-earn hasn’t quite taken off yet. The practice is still limited to gaming corners of the blockchain world or the blockchain corners of the gaming world. It’s likely that that situation will change soon. Companies as large as both EA and Ubisoft have talked about the future of gaming on the blockchain and hinted that it will involve NFTs. As they churn out top-end games with play-to-earn features, we can expect those games to find an audience.

For now though, the blockchain world is still waiting for that breakthrough game that will pitch even casual gamers into the world of blockchain gaming. 

That breakthrough might just come in the form of one of the oldest and most traditional of games: quizzes. Mimir is a new game that describes itself as the world’s first quiz powered by blockchain technology. Players can take part in livestreamed tournaments broadcast from Sweden or they can challenge their friends and strangers in one-on-one competitions. Questions cover topics from sports to popular culture, and the game is completely free to play. 

<div class =”code”><p class = “twitter-tweet”>https://twitter.com/MimirQuiz/status/1456208126290636807?ref_src=twsrc%5Etfw</p></div>

Pitched as a traditional quiz game in an App Store, it’s easy to see Mimir generating downloads and winning an audience among even the most casual of gamers. But Mimir goes further. The game also lets players stake and earn Mimir tokens. Those tokens can be used for in-game purchases such as buying entry fees to big live shows, staking to compete for a prize pool, and even to take part in the game’s decentralized governance with voting rights.

For quiz game players, the token’s play-to-earn feature adds a whole new layer of excitement to competitions and tournaments. Not only can they enjoy the buzz that comes from guessing a question right or showing off their knowledge—or beating a friend with their expertise in European soccer history—they can also earn real money by doing so.

Quizzes make no demands of players. They’re not like first person shooters that demand a stomach for blood splatter and a quick trigger finger. Nor are they like metaverses that require construction skills and strategic planning. If you can answer a question—or try to—you can enjoy a quiz. When playing is that simple and comes with earning, we might well find that simple quiz games become the breakthrough play-to-earn platform.

Categories
Gaming NFT

This Week in the Axie Infinity Market (Nov 17th – Nov 24th)

With millions of players and numerous milestones in the rearview mirror, this has been the year of the Axie. Players have enthusiastically competed, staked and experimented within the Axie Infinity ecosystem. Soon one of the coolest milestones will appear: the 10 millionth Axie will be bred.

<div class =”code”><p class = “twitter-tweet”>https://twitter.com/AxieInfinity/status/1463223001671999493?ref_src=twsrc%5Etfw</p></div>

This and more in this week’s recap of the Axie Infinity market.

The numbers in this recap were sourced from Katana analytics and Axie’s Marketplace Tracker.

Market Volume:

As of this writing, over $172 million worth of Axies and land have been traded in the past week, with over 606,500 Axies trading in the past seven days and less than 300 lands changing hands. One cool stat I saw is that over the last 30 days, over 2.5 million Axies have been traded. Since the DEX has been integrated, we are noticing some micro trends of volume increasing. It’s unclear right now if this is due to new players joining or older players feeling more confident about trading.

Bring it to the floor:

The absolute cheapest or lowest price of Axies is what we call the floor.

In the first few iterations of this market recap, I took the cheapest one or two Axies on the market and analyzed that as the floor. After crunching my numbers, I have found that it’s better to focus on the lowest ten (10) Axies on the market instead.

The range this week is between $103 and $123. ETH is at a similar range as last week. On that note, the floor feels more active. Several floor Axies sold as I was looking at them. I am curious to study this after the holiday season as people tell their family and close friends more over turkey dinners.

SLP (Smooth Love Potion):

To breed your Axies, you need to spend the in-game currency SLP, which can be earned in-game or bought/sold on crypto markets like Binance.

After enjoying a nice spike three weeks ago to 10 cents, SLP has started a slow decline trending toward 5 cents. The DEX has not removed the strong selling pressure that was prevalent before hand.

However, I recently saw an interesting mechanic for SLP burn proposed by a Twitter user Khaled Alroumi. Alroumi’s idea is you can burn axies, AXS and SLP and re-roll body parts. This could drastically affect the meta and overall volume in the economy.

<div class =”code”><p class = “twitter-tweet”>https://twitter.com/KAlroumi_/status/1463002331390296064?ref_src=twsrc%5Etfw</p></div>

AXS (Axie Infinity Shard):

Another barometer of the Axie economy is their governance token AXS. Users who hold these tokens can vote to shape the direction of the game. They can also now stake this token to vote and earn more AXS.

As I am writing this, AXS has been enjoying the metaverse token boom celebrated by other coins like ENJ and SAND which both hit all time highs this week. The price at the time of writing is $141.

While AXS has been enjoying a nice rally, it may need more buying pressure to get back near the ATH it hit earlier this year.

AXS Staking

Out of roughly 65.8 million AXS circulating, we have over 20.6 million AXS staked. The dashboard has an estimated APR of 114%. While the amount circulating has increased, we have seen no major difference to the APR or the amount staked.

This has been this week’s Axie Infinity Market recap. If you have any questions or requests for future editions, be sure to follow us on our NFT centered Twitter @NFT137 for your NFT fix!

Categories
Gaming NFT

This Week in the Axie Infinity Market (Nov 10th – Nov 17th)

The biggest name in NFT gaming has had a crazy month, from NFT.NYC to their decentralized exchange going live. We are now in week two of the Katana DEX and new reward pools.

After amassing billions in liquidity there have been a few hiccups, with some transactions falling through due to an increase in volume but let’s see how that has trickled down to the rest of the game economy.

<div class =”code”><p class = “twitter-tweet”>https://twitter.com/AxieInfinity/status/1460165327598362631?ref_src=twsrc%5Etfw</p></div>

The numbers in this recap were sourced from Katana analytics and Axie’s Marketplace Tracker.

Market Volume:

As of this writing, over $169 million worth of Axies and land have been traded in the past week, with over 578,000 Axies trading in the past seven days and less than 300 lands changing hands. Compared to last week, we’re seeing a decrease in volume. This is a natural cool off to the explosion we had last week as Katana excitement hit its peak. Over the next few weeks, it’ll be interesting to see if volume decreases as people wait for the Ron currency to go live.

Bring it to the floor:

The absolute cheapest or lowest price of Axies is what we call the floor.

In the first few iterations of this market recap, I took the cheapest one or two Axies on the market and analyzed that as the floor. After crunching my numbers, I have found that it’s better to focus on the lowest ten (10) Axies on the market instead.

The range this week is $140 to $145. ETH is at a lower point than it was last week. With ETH cooling off, it’s notable that the price in USD per floor axie is not dropping. Another metric that I was asked to track is the total Axies listed. Currently, there are 429,285 listed for sale; this number can be used to figure out volumes, market volatility, and optimism from breeders.

SLP (Smooth Love Potion):

To breed your Axies, you need to spend the in-game currency SLP, which can be earned in-game or bought/sold on crypto markets like Binance.

SLP has dipped back down to 6 cents after enjoying some nice spikes, thanks to Katana. Selling pressure has decreased since the 800 MMR.

My current theory for the SLP dip is that people are selling SLP because of failed transactions. If people can’t swap their SLP to AXS or ETH, then they’re going to sell it. After Ron gets implemented, we should see a change in SLP trading.

AXS (Axie Infinity Shard):

Another barometer of the Axie economy is their governance token AXS. Users who hold these tokens can vote to shape the direction of the game. They can also now stake this token to vote and earn more AXS.

AXS also enjoyed a nice bounce thanks to the Katana announcement—but since then is at the lowest point in nearly two weeks. The governance token dipped to $123 before returning to where it sits now, around $137. This is the most significant gradual decline for AXS since staking went live in early October. But for this and any other cryptocurrency, you need to zoom out. Looking at the 90-day chart, it’s apparent that after the AXS staking price spike, we are trading sideways in this range.

AXS Staking

Out of roughly 65.5 million AXS circulating, we have over 20.6 million AXS staked. The dashboard has an estimated APR is 114%. There has been a slight change in the numbers from this time last week. But the overall macro trend remains the same.

This has been this week’s Axie Infinity Market recap. If you have any questions or requests for future editions, be sure to follow us on our NFT centered Twitter @NFT137 for your NFT fix!

Categories
Gaming NFT

This Week in the Axie Infinity Market (Nov 3rd – Nov 10th)

During this past week, I had the pleasure of meeting up with people in the Axie Infinity community in NYC to talk shop. I loved getting the opportunity to have conversations with people whose entire lives have changed because of the game and got to meet people I’ve interacted with on Axie Twitter longer than I’ve been writing this recap. Listening to stories and picking the brains of streamers and content creators like @brycent_ in person was such a cool culmination of so much digital interaction surrounding the game.

Swolesome

But sprinkled in the excitement of NFT.NYC, Axie Infinity decided to detonate an absolute bomb of an announcement.

The largest game in the NFT space dropped one of their biggest updates yet in the form of their own decentralized exchange (DEX), Katana.

<div class =”code”><p class = “twitter-tweet”>https://twitter.com/AxieInfinity/status/1456161289722548225?ref_src=twsrc%5Etfw</p></div>

Katana allows Axie Infinity players to swap tokens and get rewarded for adding liquidity into the ecosystem. This is huge for the underlying ecosystem and market; instead of cashing out, SLP players will be able to swap for AXS and be able to stake and have a say via governance. As of this writing, over $1.26B of liquidity has been added to the DEX.

The numbers in this recap were sourced from Katana analytics and Axie’s Marketplace Tracker.

Market Volume:

As of this writing, in the past week, over $236 million worth of Axies and land have been traded—with over 738,000 Axies trading in the past seven days and less than 300 lands changing hands. Compared to last week, we’re seeing a hell of a volume increase. NFT.NYC fervor along with the Katana implementation has reignited the market of trading. I can not recall the last time we saw this large of a spike in both $ volume and Axies trading. Let’s see what’s going on in the other metrics.

Bring it to the floor:

The absolute cheapest or lowest price of Axies is what we call the floor.

In the first few iterations of this market recap, I took the cheapest one or two Axies on the market and analyzed that as the floor. After crunching my numbers, I have found that it’s better to focus on the lowest ten (10) Axies on the market instead.

This week, the floor range is from $135-$167. This reflects a new interest in players wanting to get as many tokens as possible to flip to their desired currency. Maybe breeders are listing so they can swap ETH to AXS or players want more/better Axies to earn SLP. It’s a win-win for all right now.

SLP (Smooth Love Potion):

To breed your Axies, you need to spend the in-game currency SLP, which can be earned in-game or bought/sold on crypto markets like Binance. 

SLP enjoyed a large spike up to nearly 12 cents last week thanks to Katana going live. The coin cooled off, but the overall macro trend is trading sideways in the 7 cent range. As more users stop selling their SLP and instead swap straight into other currencies, we will see if this reduces the sideways trading.

AXS (Axie Infinity Shard):

Another barometer of the Axie economy is their governance token AXS. Users who hold these tokens can vote to shape the direction of the game. They can also now stake this token to vote and earn more AXS. 

AXS also enjoyed a nice bounce thanks to the Katana announcement—actually breaking its ATH on Saturday around $160. The price has since cooled off a bit to roughly $150 at the time of this writing, but the governance token has continued its 30 day upward trend. As more people start to add AXS to liquidity pools, it’ll be interesting how this affects the price and volume.

AXS Staking

Out of roughly 65.4 million AXS circulating, we have over 20.18 million AXS staked. The dashboard has estimated APR being 116%. It’s the first time in weeks that it has been below 120%. This becomes one of the most interesting categories to watch, because previously if large amounts became un-staked, it was presumed that they’d be sold on market. But now it could be un-staked and STILL stay in the economy via liquidity pools. Absolutely wild.

Land Sales:

We’re going to suspend tracking land sales until lands are integrated in game so we can spend more time studying/tracking the liquidity pools going forward in the short term.

The End:

This has been this week’s Axie Infinity Market recap. If you have any questions or requests for future editions, be sure to follow us on our NFT centered Twitter @NFT137 for your NFT fix!