Happy Halloween! In the latest crypto horror show, the Fed’s second consecutive rate cut on Wednesday and the trade truce between the U.S. and China did little to stop the market from dipping. Again!
Bitcoin briefly reached a low of $106,500 before rebounding to $110,000, ending the week 1% down. Will this be Bitcoin’s first red October in seven years?
In any case, 17 years ago today, Satoshi Nakamoto first published the Bitcoin whitepaper that started it all. Happy anniversary, and let’s zoom out!!
It also rings true that when Bitcoin sneezes, altcoins catch a cold. The majority of leading GameFi tokens were underwater, with a few swimming against the tide. Virtuals Protocol (VIRTUAL) climbed 69%.
Here are this week’s major headlines in Web3 gaming.
Key Web3 Gaming Developments
- •Sam Altman-backed World is teaming up with Mythical Games to bring “proof-of-human” IDs to hit titles like FIFA Rivals, NFL Rivals and Pudgy Party. The partnership aims to verify real players and kick bots off the field, blending digital ID tech with Web3 gaming.
- •Cambria secured another $2.3 million in a funding round led by Bitkraft and Sky Mavis to power up its degen-native on-chain MMO. New backers included Beast, Flowdesk, LegendaryGainz, Yassuo and Zeneca.
- •Yuga Labs is launching Koda Nexus, the social core of its Otherside metaverse, on Nov. 12 with an Amazon NFT avatar drop. After years of testing, the Bored Ape creator is finally bringing its open-world game to life as an always-on digital playground.
GameFi Sector Review
It was a volatile week in which the GameFi sector’s market cap slid 4% to $13 billion while trading volume spiked 26% to $2.6 billion.
Altcoins have a lot of work to do if we are to see an altcoin season any time soon. The Altcoin Season Index rose from 23 to 29 week-on-week, but Bitcoin dominance remains strong at 59.4%.
Top Gainers
- •Virtuals Protocol (VIRTUAL): +68.82%
- •Open Loot (OL): +51.27%
- •Heroes of Mavia (MAVIA): +39.69%
- •inSure DeFi (SURE): +16.99%
- •Yooldo (ESPORTS): +11.35%
Top Decliners
- •My Lovely Planet (MLC): -26.14%
- •Unagi Token (UNA): -25.25%
- •Four (FORM): -23.92%
- •Galeon (GALEON): -21.85%
- •ECOMI (OMI): -20.41%
Many sectors lagged this week, but it was a double blow for GameFi as it slipped from 13th to 18th on DeFiLlama’s narrative tracker.
Web3 Gaming News This Week
Ragnarok: Game Over
Ragnarok: Monster World is shutting down on Dec. 29 after a rocky year. The move follows its split from Ronin Network, underscoring how tough survival can be in the GameFi arena.
Gala’s Next Move
Gala is retiring three Telegram games—Music Coin, Meow Coin, and DFTF—to focus fully on Treasure Tapper ahead of its token launch. Player progress and rewards will roll over into $TREZ, ensuring a smooth transition for tap-to-earn fans.
Navigating Market Volatility
What You Can Do Now:
- •Manage your risk as volatility takes center stage this week.
- •Track VC funding to spot where GameFi capital is heading.
- •Monitor macro trends that could shape the next market move.