Today’s inflation report came in unexpectedly high causing a drop in risk asset valuations across the board. The blue-chip tokens such as Bitcoin and Ethereum declined 4 to 6%, respectively. However, the markets are rebounding from the bottom of their lows and giving up their losses. According to CoinGecko, the gaming sector is down 3.0% as of this writing. Here are the gaming and related tokens that made the biggest moves today and why.
DeRace ($DERC) – The horse racing NFT platform’s tokens declined 23% today paring down most of the gains of the week. Its 7-day gains came down from a ~70% growth to 19%. The game has made numerous announcements this month with promises for more. It showed off a new trailer on October 5th. The most recent news includes DAO Maker opening up single-sided staking for $DERC and DeRace having been listed on Magic Square. DeRace’s supports Ethereum, Binance and Polygon.
LooksRare ($LOOKS) – The Ethereum based NFT marketplace platform’s tokens have increased 8% so far today, a great feat given the broader market drawdown. There doesn’t seem to be any major news that would drive this.
Netvrk Official ($NTVRK) – The Ethereum based metaverse studio platform’s token declined nearly 10%. On October 11th, Netvrk CEO Linus Chee had an AMA with its community and on October 7th, they released a new whitepaper.
Guild of Guardians ($GOG) – The multiplayer, fantasy RPG game’s tokens were down 8.0% on $1.4MM trading volume. There hasn’t been recent news. The game has been regularly posting promotional content tied to its gameplay. Additionally, the team has stepped up efforts to increase transparency, particularly around the unlocking of its token supply. GOG supports Ethereum and its NFTs are traded on ImmutableX.
Ultra ($UOS) – The tokens of the gaming entertainment platform have increased 9.0%. The Ethereum based platform has been busy with its NFT PFP hackathon this month in addition to announcement of multiple partnerships.
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