The majority of Web3 gaming tokens experienced losses, but fresh VC money keeps piling in.
TL;DR
- $3.5 million in venture capital flowed into the GameFi sector
- Mask Network lost more than half of its value this week
- Pengu Clash gears for launch
Bitcoin smashed through $110K in search of a new all-time high but was rejected and fell below $103,000 as political tensions worsened in the Middle East.
Leading Web3 tokens were not spared from the fallout, but the GameFi engine kept running. New games are about to launch, funding is flowing, and new rewards await to be unlocked by gamers as we start looking at Q3.
What's next in Web3 gaming? Here is our weekly rundown.
GameFi Sector Review
Several Web3 gaming tokens finished the week in the red, with the sector's market cap down only 1%. There were also big winners, as the trading volume increased by 29%.
Source: CoinMarketCap
The 30-day chart looks healthier, as both metrics are on the up, indicating that the GameFi sector continues to expand despite short-term fluctuations.
Source: CoinMarketCap
While the altcoin season is not yet in sight, the CMC Altcoin Season Index slightly increased from 23 to 26.
In other words, move along, nothing to see just yet.
Top Gainers
NEXPACE (NXPC) bounced back from last week's losses, while BORA (BORA) made its mark with an over 40% uptick.
- BORA (BORA): +41.97%
- Myria (MYRIA): +27.12%
- Seedify.fund (SFUND): +26.79%
- NEXPACE (NXPC): +22.54%
- Realio Network (RIO): 22.4%
Top Decliners:
The tables turned on Mask Network (MASK), which lost over 50% due to a whale dumping, despite impressive returns last week. Gunzilla Games also tanked 23%.
- Mask Network (MASK): -52.28%
- Open Loot (OL): -40.39%
- GUNZ (GUN): -23.06%
- X Empire (X): -19.37%
- Altura (ALU): -16.3%
Source: CoinMarketCap
Web3 gaming is the 11th largest crypto narrative in the past 30 days, ranking above meme coins and the Solana ecosystem.
Source: DeFiLlama
Game of the Week: Seraph
Seraph is Diablo meets crypto—dive into dungeons, slay monsters, and score NFT loot you actually own and can trade for real gains.
This action RPG lets you grind your way through epic quests while turning your in-game gear into valuable blockchain assets. Whether you’re a loot hunter or a savvy trader, Seraph makes every drop count and every victory truly yours.
Web3 Gaming Activity This Week
OCG Raises $3.5M To Expand Web3 Game IP
Just nine months after its $2 million pre-seed round, Orange Cap Games (OCG) has raised $3.5 million, led by 1kx and Yuga Labs, to expand its titles and develop new IP-driven Web3 games and collectibles.
Pudgy Penguins To Launch Telegram Game With NASCAR Tie-In
Pudgy Penguins will launch Pengu Clash, a real-time multiplayer game on Telegram, on June 18 in partnership with NASCAR, built on the TON blockchain. The skill-based mini-game emphasizes fair play over speculation and marks a new step in Pudgy’s Web3 gaming expansion.
Seraph Season 3 Launches With $880K Prize Pool
Seraph’s third season is now live, offering a 5,000,000 $SERAPH prize pool and free-to-play access with a $100 welcome bundle for new players.
What You Can Do Now
- Follow the GameFi sector as it attracts venture funding.
- Get ready to play Pudgy Penguins’ Pengu Clash starting June 18.
- Join Seraph’s third season to earn rewards.
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