Bitcoin dropped to about $92,000 as the after-effects from the last FOMC meeting are still in full swing while Peter Schiff is in top form again with non-stop BTC FUD.
TL;DR
- Bitcoin continues its decline after FOMC meeting
- GameFi market still not showing strength
- Ronin to launch prediction market
- Off The Grid FUD gaining traction
- Sonic airdrops to TikTok users
Introduction
Bitcoin dropped to about $92,000 as the after-effects from the last FOMC meeting are still in full swing while Peter Schiff is in top form again with non-stop BTC FUD. Did you buy the dip, anon?
GameFi continues its decline, but there are still some interesting developments as Ronin enters the prediction market space.
Market Overview
The GameFi market cap dropped over 17% from $30.70 billion to $25.33 billion over the last seven days.
GameFi tokens continued their decline over the last week as the whole market nosedived.
Source: CMC
According to DeFiLlama’s Narrative Tracker, GameFi is down bad, ranking only 17th, and outperformed by Bitcoin but not Solana.
Top Coin Movements
All the top 20 Web3 gaming tokens are red as the whole market reverses while Bitcoin fights back for higher dominance.
Source: CMC
Top Decliners:
- Echelon Prime (PRIME): -27.12%
- GMT (GMT): -22.72%
- FLOKI (FLOKI): -22.04%
- Wilder World (WILD): -19.95%
- Kadena (KDA): -19,96%
Blockchain Gaming Activity This Week
Are we experiencing another grift as Web3 yet again anticipates the launch of the first AAA game to hit our shores?
GameFi adoption shows an almost mirrored image of last week, with four projects ending green over the last seven days.
- Treasure Ship Game is on a moon mission with its UAW soaring by 5,380.78% but why is its Twitter account so dead?
- SpinCity surges by 33.82% as its Christmas Event is underway.
- GombleGames rises 12.87% with fresh and new adventures every month.
- Pixels is up 1.47% as some of the biggest and best Web3 Creators compete in The Great Dungeon Race.
Latest Blockchain Gaming News
Ronin To Launch Prediction Market
Community Gaming has partnered with Ronin to launch Forkast, a Web3 prediction market platform suited for gamers. The platform combines gaming, esports and internet culture with prediction markets, allowing users to make predictions, stake tokens, and earn rewards like tokens and Loot Boxes.
Forkast uses Ronin Waypoint to enable gasless transactions and make it more accessible for not only normies but also Web3 OGs. This partnership introduces new decentralized finance (DeFi) opportunities to the Ronin Network.
With Forkast, users can participate in curated markets using CGX tokens and Ronin's native tokens, rewarding active participation with weekly Loot Boxes and other incentives.
Solana L2 Sonic Airdrops To TikTok Users
The Solana-based layer-2 gaming network Sonic SVM is airdropping SONIC tokens to TikTok users who join its blockchain game, SonicX. This move integrates Web3 gaming directly into the TikTok platform.
It creates a smooth and easy experience for noobs without requiring external wallets or gas fees. So far, over 2 million users have already been onboarded.
Sonic’s approach is similar to the strategy used by The Open Network (TON) with Telegram mini-games, aiming to bridge Web2 audiences into the Web3 world as TikTok has over 1 billion monthly active users.
When you thought it was a win😂
Gamemeta Collaborates With Jump.fun
Gameta has announced a partnership with Jump.fun to improve the gaming and user experience. The collaboration will use Jump.fun's features, such as one-click meme coin deployment, Player vs. Player (PvP) liquidity war mode, and a free 6 ETH liquidity loan on Uniswap.
They aim to streamline processes for launching new meme coins, making them more accessible and user-friendly. Features like the PvP liquidity war mode encourage user participation, while the 6 ETH liquidity loan supports innovation and helps kickstart new crypto projects.
Ragnarok Landverse
Ragnarok Landverse: Genesis is set to launch on Sky Mavis' Ronin Network in early 2025. Seeing massive success in the 2000s, Ragnarok Online has had over 100 million players and generated more than $2 billion in revenue. The game will be powered by blockchain gaming platform Zentry.
While Ragnarok Landverse launched in 2023 and already has over 400,000 players and $18.9 million in revenue, Genesis will be an entirely new chapter exclusive to Ronin. Existing Landverse assets won't carry over, but Zentry plans to migrate other Landverse servers to Ronin later on.
Zentry, which secured $150 million in funding earlier this year, will serve as a node validator on Ronin and integrate its ZENT token into Ronin's ecosystem with liquidity pools on Katana. Zentry's Nexus Player Portal also offers perks like digital identity, lifetime rewards, and cross-platform gaming integration.
What You Can Do Now
- Focus on quality over hype: look out for games that people play for fun rather than just for earning.
- Check for real utility and in-game integration: projects where tokens and NFTs have multiple use cases within the game such as staking, upgrades, and crafting, tend to be more sustainable.
- Evaluate team experience and transparency: teams with a proven track record in gaming or blockchain are more likely to deliver.
- Assess community activity and growth: high player retention and active communities (Discord, Twitter, Reddit) show that a game can attract and keep players.
- Check out all the latest developments on the RON chain.
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