PIF Picks: The Top GameFi Updates this January 23-27

At PIF Picks, you will find the latest and greatest updates in the GameFi space. This week, from January 23rd to the 27th, 2023, we’ve seen some significant advancements and breakthroughs in the industry. Here are a few highlights of the most exciting GameFi news we have come across.

Podcasting Meets Crypto: Fountain and ZEBEDEE Partnership Enables Bitcoin Micropayments for Listeners

The game just got even better for podcast enthusiasts! The Fountain podcasting app has teamed up with ZEBEDEE, a financial services company, to bring Bitcoin micropayments to creators and listeners. That’s right; you can now earn Bitcoin by listening to your favorite shows.

This new partnership means that even those unfamiliar with cryptocurrencies can still take advantage of the rewards using their debit and credit card integrations. Oscar Merry, the CEO of Fountain, sees this as the future of content creation and calls it a “powerful combo.” 

The Bitcoin Lightning Network will be used to make instant, permissionless, and low-fee payments, connecting the “fragmented podcasting industry” that currently operates across multiple apps and hosting providers. This is just one example of how developers are using emerging technologies to prioritize utility.

Binance Upgrades NFT Listing Standards: Brace for Delistings

Are you a collector of NFTs? Get ready for a shakeup as Binance, one of the world’s leading crypto exchanges, announces new rules for NFT listings. Such rules may affect some of your digital collectibles. Starting February 2 this year, Binance will delist all NFTs listed before October 2, 2022, with an average daily trading volume lower than $1,000 between November 1, 2022, and January 31, 2023.

This move comes as Binance enforces stricter Know Your Customer (KYC) verification for NFT sellers. From now on, NFT artists can only mint up to five digital collectibles daily. Moreover, sellers must have at least two followers before listing their NFTs on the platform.

Binance will also be “periodically reviewing” NFT listings that don’t meet their standards and may recommend them for delisting. The exchange also encourages users to report any NFTs or collections that may violate Binance’s rules and terms of service.

It’s worth noting that the delisted assets will still appear in users’ wallets. However, if they don’t meet the two requirements, they will be automatically delisted by February 2, 2023.

This announcement comes amid scrutiny from regulators over allegations of lax KYC measures and Binance’s role in processing illicit funds. The exchange has denied these allegations, but with new regulations and rules being implemented, NFT enthusiasts need to keep an eye on their digital assets and ensure they meet Binance’s standards.

STEPN (GMT) with 21% Surge as NFT and GameFi Industries Make a Comeback

The NFT and GameFi industries have had a rough time lately, with many projects losing value and not receiving much fresh funding. But hold on tight because one project defies the odds – STEPN (GMT) has seen a whopping 21% increase in value this Monday!

Since the crypto market started to recover, STEPN has gained over 100% in value, making it one of the top performers among assets in the top 100 market by capitalization. This is due to the historically high volatility of these assets and the overall recovery of the NFT and DeFi industries.

The GameFi and NFT industries are known for their volatility and high risk, but with the market recovery, we can expect to see more upward movements in assets like STEPN as their true potential is realized during rallies like the one we saw in 2021. But it’s impossible to predict how long this recovery will last for STEPN or the market.

Currently, STEPN is approaching a local resistance level at $0.69, as reflected in its 200-day moving average. Other assets have broken through this level and established a foothold above it. Will STEPN be able to follow the wild ride?

Axie Infinity’s AXS Token on a Bullish Run

Get ready to play for some serious crypto payouts, because Axie Infinity’s AXS token is having a major moment! In the blockchain-based game Axie Infinity, players can acquire, breed, grow, battle, and trade adorable NFT-based creatures known as “Axies.” The game’s governance token is called Axie Infinity Shards, or AXS for short.

Coinalyze reports that the dollar value locked in open contracts in perpetual futures linked to AXS has skyrocketed by 156% to a whopping $104 million in the last day. This price rebound and increase in open interest is a sure sign that fresh investment and positive sentiment are driving this crypto’s success.

This surge in value comes despite the release of 4.8 million AXS tokens, or 1.8% of the cryptocurrency’s total supply, that became available on Monday. Usually, token unlocks are seen as negative triggers that provide liquidity and allow investors to cash in their gains. Tokens are locked up to prevent major holders from selling their coins all at once, causing price drops. These big holders are typically early investors or even project team members.

AXS has seen a growth of more than 100% this month, surpassing its 200-day moving average for the first time since 2020. Despite this, the gaming platform has seen a decline in players, with only 432,001 live players in the last 30 days. This is the lowest number of players since October 2020, compared to its peak of over 2 million between September 2021 and May 2022.

So, is it time to get in on the action and join the Axie Infinity game? Only time will tell if this bull run is here to stay. But with a massive 40% surge in value, it’s worth keeping an eye on.

Missed out on last week’s GameFi updates?

Did you miss our GameFi updates last week? Click here for the GameFi updates from January 16-20, 2023.

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