Crypto asset manager Scytale Digital led the Series C extension round for the NFL Rivals creator.
NFL Rivals Scores 1M Downloads for NFT-Based Mobile Game
NFL Rivals, a free-to-play game from Mythical Games, has managed to score over a million downloads despite debuting amidst a harsh crypto environment and in the off-season of the NFL itself.
Polkadot (DOT) Under Sell Pressure As Bears Retaliate
Over the last week, Polkadot (DOT) has had trouble gaining traction, falling by 8.41% from April 30 to May 4. However, the price is trading sideways and there might be a modest recovery next week as investors take advantage of this dip to acquire more DOT.
According to CoinMarketCap, Polkadot ranks #11 among all cryptocurrencies with a current market price of $5.75. Polkadot’s 24-hour trading volume is up by 29.40% in 24 hours, while its market cap has also gained 1.57% within the same time frame.
Polkadot’s (DOT) Fear & Greed Index today is 46. This level indicates that bulls are pushing the price up gradually, but the bears are still in their positions.
Over the last few days, Polkadot (DOT) has been showing some bullish signs; so expect a possible recovery within the next few weeks as investors take advantage of the current momentum.
DOT Price Analysis
Polkadot trades between the 200-day simple moving average and the 50-day simple moving average (SMA). This indicates that the market is in a neutral or consolidation phase.
The price does not trend significantly in either direction. During this phase, traders and investors may use the 50-day and 200-day SMAs as support and resistance levels while trading.
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However, if the price exceeds the 50-day SMA, it could indicate a short-term uptrend, giving investors a buying opportunity.
The Relative Strength Index (RSI) level of DOT is 41, indicating that its market is heading towards the neutral zone and there’s indecision among investors.
But the 24-hour volume indicator shows that the trading activity is gradually growing, which could mean investors are building interest in the coin. This may increase liquidity and potential price movement in favor of DOT.
The chart above shows the key support and resistance levels of Polkadot (DOT). Polkadot now trades between $5.587 and $6.07 primary support and resistance levels. DOT’s first important resistance level is $6.07. If the price rises above this level, the next resistance levels are $7.970.
Future Developments For Polkadot
Many upcoming developments on the Polkadot network might push its adoption, usage, and price in the nearest future.
For instance, the community voted to onboard a Bridge Hub system parachain to Polkadot. Also, Mythical Games plans to migrate its Mythical Chain to the Polkadot blockchain.
Furthermore, the developers are discussing establishing Polkadot Hubs in South-East Asia, with Bali and Indonesia as the first focus.
These development proposals and discussions depict the team’s effort to enhance the network’s efficiency, connectivity, and interoperability. In time, more adoption and activities may affect DOT prices positively.
Featured image from Pixabay and chart from Tradingview.com
Blockchain Gaming Is Here To Stay, But, Is The Industry Facing Talent Scarcity?
Some say that blockchain gaming will inspire the next wave of cryptocurrency adoption. Play-to-earn games are certainly ever-present in headlines and conversations around the world. Are they close to mainstream adoption? Not in the slightest. The industry is just beginning and there’s a long way to go. The companies producing the games are well funded and make incredible amounts of money. However, they don’t seem to have that many employees.
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Besides being a nascent industry, blockchain gaming production requires a special set of talents that are not commonly found. This presents an immense opportunity for young students and people looking to pivot and make a career change. Since monetization is built in the ecosystem, chances are blockchain gaming is here to stay. And you can be a part of it. Let’s look at the numbers and you’ll see what we mean.
How Big Is The Blockchain Gaming Market?
In his report titled “Blockchain Gaming Beginnings: From Crypto Craze To Decentralized Fun,” author Joost Van Dreunen offers concrete numbers:
- How many people are playing? “Total addressable audience for blockchain gaming is still in its infancy. Mobile, PC, and console total 1.49 billion monthly actives.”
- What devices are they using? “The platform of choice is PC, which includes browser-based (40% of total titles), local clients for Windows (16%) and Mac (6%), and Linux (3%)”
- What blockchains are they interacting with? “The most popular blockchain is WAX (36%), based on an aggregation of top titles organized by protocol. Ethereum (10%) is much less prominent.”
- However, “The success of Alien Worlds, which counted 1 million users in August, 2021, almost single-handedly accounts for the success for WAX.”
- “There is a massive difference in popularity among the top titles: Alien Worlds has 59x more players than the #15, Zoo – Crypto World.”
WAX price chart on Bitfinex | Source: WAX/USD on TradingView.com
What Else Do We Know About The Blockchain Gaming Market?
We found even more data for you, let’s dive into the Unique Active Wallets, courtesy of Naavik’s Blockchain Games report:
- Believe it or not, “DappRadar notes that games accounted for over half of blockchain wallet activity in the third quarter.”
- Not only that, “blockchain gaming daily unique active wallets (UAWs) averaged 1.2 million in October 2021 or up 44% compared to September.”
- Let’s dive deeper into those numbers. “The growth in UAW over the past month has mostly been driven by growth in Axie Infinity and Splinterlands wallet activity, which have increased 24% and 57%, respectively.”
- This one mirrors the previous report. “The top title by monthly UAWs, Alien Worlds, has 10x the activity as the number ten title, Jelly Squish.”
- September 2021 saw a decline in blockchain gaming, but the numbers are once again looking impressive. “Trading volumes grew 762% quarter-over-quarter in Q3 2021 to $2.32 billion.”
What’s All That Noise About A Talent Shortage?
The wildest stat in Van Dreunen’s report is the number of employees the most successful firms in the space function with. Dapper Labs employs 242, Mythical Games 123, The Sandbox 94. Projects that are on the news all the time suffer the same fate, Decentraland has 52 employees and Open Sea 43. Compare that to, “to 9,500 f/t employees at Activision Blizzard, 11,000 at Electronic Arts, 6,495 at Take-Two Interactive, and 960 at Roblox.”
While we could interpret that the data reveals we’re dealing with efficient companies, Van Dreunen thinks otherwise. “A year-over-year increase of +102% in headcount across top blockchain game devs indicates that talent is likely to become a major bottleneck in search of the killer app.“ It may be so, but, that was until NewsBTC published this article. Young people reading this will realize the immense opportunity it represents and will take the appropriate measures.
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Remember that, besides in-game monetization, these companies raise money for new projects constantly and with ease. That means, “Abundant investment money will force firms to compete on hiring experienced developers, engineers, and producers in the short term.” They’re dying to hire you. Go and get the necessary knowledge, this story is just starting.
Featured Image: Matryx on Pixabay | Charts by TradingView
