Quick Take
- The NFT market witnessed its first positive monthly growth since March 2024.
- Notable News: Pudgy Penguins is developing a mobile game called Pudgy Party and launched its toy line in Walgreens stores in the US; Yuga Labs launched Layer-3 chain ApeChain.
- Notable Crypto.com NFT Drops: Average Creatures Universe and SYNTHTOPIA: THE LEGENDS (PFP DROP)
Chart of the Week
After six consecutive months of decline, the NFT market witnessed its first positive growth since March 2024, with its sales volume increasing 17.5% month-over-month. Top blockchains like Bitcoin, Ethereum, and Solana all saw double-digit growth in sales volume, led by their blue chip NFT collections.
Following its sharp decline in September, the in-game items and collectibles marketplace DMarket on Mythos resurged, resulting in a triple increase in Mythos’s overall sales volume. Flow, a platform primarily supporting sports NFTs, maintained its momentum with 18% growth, thanks to ‘NBA Top Shot’.
The following table shows selected top games by weekly volume in USD:
Gaming Token Performance
The total market cap for gaming tokens now stands at US$22.04 billion, dropping by -5.49% from the past 14 days.
New Projects Spotlight
News Highlights
- Pudgy Penguins is entering the mobile gaming market with Pudgy Party, developed in collaboration with Mythical Games and set to launch globally in 2025. Additionally, Pudgy Penguins launched its toy line in 2,000 Walgreens stores across the US. Each toy comes with a unique code that allows buyers to redeem NFT customisation items for the Pudgy Penguins digital ecosystem.
- ApeChain, a new Layer-3 blockchain built by Yuga Labs on Arbitrum One, went live recently. The chain supports native staking yields for the APE token, NFT minting, and dapp functionality.
- Improbable, the developer behind Bored Ape Yacht Club’s Otherside project, announced plans to create a new Layer-1 blockchain called Somnia. This blockchain aims to achieve high scalability and will be EVM-compatible, leveraging Improbable’s expertise in gaming and distributed systems.
- Ubisoft launched its first original blockchain game, Champions Tactics: Grimoria Chronicles, available on PC through the Ubisoft Connect platform. This tactical strategy game features optional NFTs minted on the Oasys blockchain, allowing players to select teams of digital characters for turn-based battles.
Recent Research Reports
 |  |  |
|---|---|---|
| Intent-Based Protocols | Research Roundup Newsletter [September 2024] | Pair Trading |
| Intent-Based Protocols |
|---|---|
| Research Roundup Newsletter [September 2024] |
| Pair Trading |
- Intent-Based Protocols: Intent-based protocols aim to simplify user experience and reduce barriers to entry into crypto. This report provides an overview of the intent-based protocols.
- Research Roundup Newsletter [September 2024]: We present to you our latest issue of Research Roundup, featuring our deep dives into AI Agent in Crypto and Pair Trading.
- Pair Trading: Pair trading is a market-neutral strategy exploiting price movements between two correlated assets. Traders seek pairs with historical correlation, monitoring price spreads to identify long and short opportunities.
Interested to know more? Access exclusive reports by signing up as a Private member, joining our Crypto.com Exchange VIP Programme, or collecting a Loaded Lions NFT.
Recent University Articles
 |  |  |
|---|---|---|
Key Macroeconomic Indicators and Their Impact on the Cryptocurrency Market | Understanding AI Scams in Cryptocurrency: Tips to Protect Yourself |
| Key Macroeconomic Indicators and Their Impact on the Cryptocurrency Market |
|---|---|
| Understanding AI Scams in Cryptocurrency: Tips to Protect Yourself |
|
- Key Macroeconomic Indicators and Their Impact on the Cryptocurrency Market: Learn how GDP, inflation rates, market indices, and interest rates influence the crypto market and how to adjust your trading strategy.
- Understanding AI Scams in Cryptocurrency: Tips to Protect Yourself: AI crypto scams, including celebrity deepfakes, voice cloning, and AI phishes, are on the rise. Here’s how to protect yourself.
- Top NFT Platforms on Solana: Popular Marketplaces in 2024: Solana offers a growing selection of NFT marketplaces. Here’s our selection of some of the most popular ones.
We’re all ears.
Your feedback helps make our reporting more insightful. Tell us how we can improve this newsletter by taking the survey below. It will take less than a minute of your time. Thank you!
Authors
Research and Insights Team
Get the latest market, DeFi & NFT updates delivered to your inbox:
Be the first to hear about new insights:
Disclaimer
The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.
This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement.
The brands and the logos appearing in this report are registered trademarks of their respective owners.
Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.
