This Week in Crypto Games
Biggest News
Token Launch Frenzy: It was the week for Ethereum gaming token launches. The token generation event for Ethereum gaming platform Nifty Island took place on Wednesday, with ISLAND’s market cap landing around $15 million as of this writing.
Kaidro, a franchise with a webcomic, crypto game, and upcoming animated series, also launched its KDR token on Ethereum on Wednesday. Since its launch, it has settled at a market cap of just above $10 million. Also on Wednesday, arena battler Moonray launched its MNRY token, again on Ethereum. What a week!
Also, the Tomarket (TOMA) token finally launched on Aptos, with players of the Telegram game finally able to withdraw and trade their airdropped tokens. It apparently hasn’t gone well, however, with the price falling 50% since launch and the developers attempting to calm the community.
"We understand the frustration around token prices and airdrops, and we’re taking steps to address these challenges," the Tomarket team wrote in a Telegram post.
Santa Brings Bitcoin:
Mobile crypto game Bitcoin Miner, which lets you earn real Bitcoin by mining fake coins on iOS and Android, launched a holiday event over the weekend that lets you earn hundreds of bonus satoshis (aka 1/100,000,000 BTC).
Running into the early hours of Monday, Santa’s Moonshot puts a Christmas-themed spin on the game’s normal weekend event, letting you build a rocket while unlocking bonus BTC and in-game boosts. You’ll mine fake coins like Snowlana and Elfereum, racking up more and more real Bitcoin along the way.
CyberKongz SEC:
The U.S. Securities and Exchange Commission has issued a Wells notice to NFT gaming project CyberKongz, the developers said last week, marking the latest regulatory probe into an entity of its type. A Wells notice informs recipients that the regulator is planning on undertaking enforcement actions based on what it discovers from preliminary investigations.
"The SEC’s Division of Enforcement have approached us with very concerning rhetoric that you can not have a token (ERC-20) in tandem with a blockchain game without registering it as a security," CyberKongz said in a statement Monday. The team added that it would "defend against this stance for the wider space."
Philadelphia 76ers Game:
NBA team Philadelphia 76ers have launched "Spectrum Sprint," a free-to-play mobile game with Web3 elements, in collaboration with Crypto.com—a team sponsor since 2021.
The game uses a pixel art style, with side-scrolling gameplay that asks players to traverse iconic Philadelphia landmarks and dash down Broad Street towards the team’s former Spectrum arena. Gamers can unlock digital collectibles and compete for exclusive prizes across four tiers: Rookie, Pro, All-Star, and Legend.
ICYMI
Here are a few of our original stories from this past week that we think are well worth a weekend read:
- Edited by Andrew Hayward
Conclusion
This week has been a whirlwind of activity in the world of crypto gaming, with token launches, regulatory probes, and new game releases dominating the headlines. From the excitement of new gaming experiences to the challenges posed by regulatory uncertainty, there’s never been a more exciting time to be involved in the world of Web3 gaming.
FAQs
Q: What is the significance of the token generation event for Nifty Island?
A: The token generation event marked the launch of Nifty Island’s token, which has a market cap of around $15 million as of this writing.
Q: What is the current market cap of Kaidro’s KDR token?
A: The market cap of Kaidro’s KDR token is just above $10 million.
Q: What happened to the Tomarket (TOMA) token after its launch?
A: The price of the Tomarket (TOMA) token fell 50% since its launch, and the developers are attempting to calm the community.
Q: What is the purpose of the "Santa’s Moonshot" event in Bitcoin Miner?
A: The event puts a Christmas-themed spin on the game’s normal weekend event, letting players earn hundreds of bonus satoshis and unlock bonus BTC and in-game boosts.
Q: What is the significance of the Wells notice issued to CyberKongz by the SEC?
A: The Wells notice informs CyberKongz that the SEC is planning on undertaking enforcement actions based on what it discovers from preliminary investigations.
