7-Day Market Moves

📉 The Forkast 500 NFT Index dropped 5.68% this week and 10.68% this month. However, Forkast's Polygon and Cardano indexes recorded increases. Ethereum, the dominant NFT network, dropped 7.95% to $12.67 million, while Solana rose 52.85% to $1.43 million.

🎮 BAYC, led with a 43.06% increase to US$1.37 million over the past day. Three video game-based NFT collections - DMarket, Gods Unchained Cards, and Sorare - secured places in Cryptoslam’s top five, indicating their resilience in a down market. Ethereum's Art Blocks placed fourth with a slight 3.50% increase.

The Blur NFT marketplace had the largest market share among the top six platforms in February, followed by OpenSea. Total NFT trading volume slipped 5.40% in the past day to US$18.49 million.

Top Blockchain Games (7 Days)

*Source: DappRadar

Top NFT Marketplaces By Sales Volume (7 Days)

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Top  NFT Collections By Sales Volume

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Yuga Labs Strikes Gold With New Game, Forge

TL: DR

• Yuga Labs' new game 'Forge' has a 42% retention rate, double that of its previous game.
• 'Forge' players must own specific NFTs, generating $64 million in trading since March.
• 75% of the earlier game 'Dookey Dash' players were new to Yuga's ecosystem.
• Yuga Labs is merging gaming and NFTs, creating immersive experiences that redefine digital collectibles.

Yuga Labs has hit another high score in the gaming field. Their newest video game, 'Forge', is successfully retaining twice as many users compared to their previous title, according to the web3 studio's Chief Gaming Officer, Spencer Tucker. Tucker, a former employee of mobile gaming studio Scopely, noted that 'Forge' achieved a day 10 retention rate of 42%, dwarfing the success of 'Dookey Dash' which still managed to generate over $110 million in trading volume for its Sewer Pass NFTs.

'Dookey Dash' attracted a substantial player base that was new to Yuga's ecosystem, but 'Forge' is setting a fresh standard in player engagement. Post the release of 'Dookey Dash', Yuga Labs introduced the socially-driven 'HV-MTL (or Heavy Metal) Forge', which stimulates competition for admiration among players. To join the gaming bandwagon, players are required to own one of the 30,000 HV-MTL NFTs, currently trading at a floor price of 0.57 Ether (about $1,045). Since their launch in March, these NFTs have churned close to $64 million in trading volume according to OpenSea data.

'Forge' offers an expansive gaming experience with six seasons and two modes. As the second mode is about to launch, the game is innovatively blending the gaming and NFT space. In Tucker's words, in this captivating environment, "you really forget you are interacting with NFTs."

Inworld raised $50M to Create Better Video Game Characters

TL: DR

• Inworld AI raised $50 million, boosting its valuation to $500 million.
• The funding will drive R&D, hiring, and potential open-sourcing of the platform.
• The company, part of the 2022 Disney Accelerator, is a significant player in the AI development industry.

Inworld AI, a video game developer specializing in generative AI, recently closed a $50 million funding round. Led by Lightspeed Venture Partners with contributions from several other notable investors, this round boosted the company's valuation to $500 million. Known for its Character Engine, Inworld AI has crafted interactive non-player characters for popular games such as Skyrim and Grand Theft Auto V.

In 2022, Inworld AI participated in the Disney Accelerator, focusing on augmented reality, NFTs, and artificial intelligence. The company says the new funds, which bring its total financing to $100 million, will be directed towards research and development, hiring, and infrastructure. Additionally, Inworld AI plans to open-source parts of its platform to encourage collaboration and innovation.

The AI development industry continues to grow, with companies such as Nvidia and Microsoft-backed Inflection AI raising significant funds. Inworld AI's latest funding round marks it as a key player in the evolving gaming landscape, a field poised for significant innovation.

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In other news,

• Major video game creator Bandai Namco has teamed up with Oasys, to create an AI-powered virtual pet game around a series of NFT-based digital creatures known as RYU.

The Mojo Melee and Amazon Tag Team

TL: DR

• Mojo Melee and Amazon have partnered to offer free NFTs to Prime subscribers.
• New players can obtain an NFT and in-game currency via Amazon Prime Gaming.
• The partnership includes six months of additional monthly in-game NFT drops.
• Amazon has been involved in prior NFT promotions and may launch an NFT marketplace.

Mojo Melee, an NFT game built on Polygon, has partnered with Amazon to distribute free NFTs to Amazon Prime subscribers. The initial offer available through the Amazon Prime Gaming portal grants a free package containing an NFT and in-game currency to new Mojo Melee players. This pack includes an NFT of the champion character Gwyn Rockhopper and 885 units of Ore, the game's non-crypto, in-game currency. Usually, players must reach a specific level to mint champions as NFTs, but this Amazon partnership provides an immediate NFT to new players.

This partnership between Mojo Melee and Amazon is set to last for six months and includes additional monthly drops of in-game NFTs and other content. This provides ongoing opportunities for Prime subscribers to explore the game and potentially gain an advantage over non-subscribers. The game, playable on web browsers and an Android app, offers a casual take on the auto battler genre. Since its official launch with its "Season One" content package, it has earned praise for simplifying a typically complex genre.

Amazon's involvement with NFTs and games extends beyond Mojo Melee. Previous partnerships include one with Mythical Games' Blankos Block Party, which provided free avatars and accessories to Prime Gaming subscribers. There are also reports of Amazon planning to launch a broader NFT marketplace, though official announcements are still pending.

In other news,

• Game developer nWay has announced that it is developing Wreck League—a 3D mech-fighting game that will incorporate the Bored Ape Yacht Club and other Yuga Labs-created Ethereum NFT collections in its first season.

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