The crypto markets saw another surge this past week, and NFT collections benefited with huge increases in trading volumes as well. NFTs come to the Bitcoin network, more games release alphas and betas, and you don’t want miss out on the upcoming NFT mints!
The big news in the NFT world this past week was the release of Ordinals on the Bitcoin network. Ordinal Inscriptions are a way to create NFTs on Bitcoin, something the network was not originally designed for. But, like Ethereum, Bitcoin Core also sees upgrades. And one of the latest, named Taproot, brings this ability to the grandfather of blockchains.
One of the first collections, Ordinal Punks, already sell for over $100k each! Did this new tech implementation spur an increased interest in NFTs? Perhaps it did, because we certainly saw an increase in NFT trading over this past week.
As for the gaming side of blockchain, the alphas and betas keep coming! Some of the latest releases include Chronos open beta, Nekoverse closed alpha, and Parallel closed alpha! And don’t forget the upcoming mount mint for Seedworld and land sale for The Sandbox!
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Top play-to-earn games by active users
|Game||Active Users 7 days||Change|
|1. Alien Worlds||316.48k||-0.45%|
|3. Farmers World||81.01k||-12.19%|
|4. Planet IX||74.98k||-18.89%|
|6. Axie Infinity||39.57k||-16.15%|
|7. Meta Apes||38.55k||+1.14%|
|8. Era7: Game of Truth||36.68k||-9.42%|
|10. Benji Bananas||27.86k||-11.54%|
Interestingly, though the markets were up, active player volume was not. Have players been spreading out to other games as more alphas and betas are released? Or perhaps they were distracted with trading NFTs? Whatever the case may be, the games on the list of most active players over this past week remained the same.
In fact, there was no change at all in the order of the top six games on this list, though all of them took a hit in regards to active player numbers. Out of the whole top 10, only Meta Apes saw any player growth over this past week!
Top 10 NFT collections by volume traded
|Collection||Volume traded 7 days||Volume Change|
|1. Otherdeed for Otherside||$50.81M||+202.95%|
|2. Mutant Ape Yacht Club||$32.12M||+151.99%|
|5. Doodles V4||$23.58M||+107.11%|
|6. Bored Ape Yacht Club||$20.56M||+31.95%|
|7. BEANZ Official||$17.98M||+796.66%|
|8. Clone X||$14.57M||+65.51%|
|9. Checks V4||$13.72M||-1.68%|
|10. Pudgy Penguins||$12.02M||+2.85%|
NFT markets on the other hand, saw all sorts of explosive growth, with many projects seeing trading volume increases of over 100%! The Bored Ape suite releases its hold on the top five positions and we see return of an old face, the Moonbirds collection.
And Checks, which is nothing but a collection of Twitter-style checkmarks, continues to create value through their burn mechanic. Owners of Checks NFTs can burn multiples to upgrade to a new Checks NFTs with fewer checkmarks on it! So each subsequent Checks version is increasingly rare.