Ethereum ETFs Approval Talks Sees Price Surge, Gala Games Experience Breach, Yuga Labs Face Backlash From CryptoPunks Holders

GM. This is the Wise Dog, the best source for web3 gaming news. We curate all the latest Crypto gaming news, so you can stay ahead of the meta.

Never financial advice.

MARKET REVIEW

_{* Cryptocurrency data as of 6:00 AM ET 21st May}

CRYPTO GAMING HEADLINES

($NOT) Telegram founder Pavel Durov has been gifted over $7 million in Notcoin by players. He has announced that he will hold onto these tokens until they increase by 100 times.

($GALA) Gala Games experienced a breach resulting in the unauthorized minting of approximately 5 billion GALA tokens, valued at $240 million. The hacker swapped a portion of the tokens for 5930 ETH, worth over $21.5 million at the time of the incident.

($AXS) Axie Infinity has initiated its inaugural $AXS governance voting process, AIP-001. Live as of May 20, this marks the first instance where players can utilize their $AXS tokens to influence game development processes. 

($NYAN) Nyan Heroes has announced Bybit as their launch partner for the $NYAN TGE. The launchpool is now live, allowing users to stake $NYAN or $USDT to earn a share of the 2.76 billion $NYAN prize pool.

Draftables, an NFL-styled game, has sold out its Founder Pass NFTs in under 10 minutes. Holders will gain access to exclusive content and may be eligible for the $DRFT token airdrop.

OTHER CRYPTO HEADLINES

($ETH) The approval chances for Ethereum ETFs have increased to 75%, with the SEC deciding this week. This news led to a 20% surge in the price of Ethereum.

($BTC) The Runes market has hit an all-time high, surpassing $1 billion in market cap as of May 19th. This coincides with notable tokens like Dogecoin and RuneCoin seeing significant price increases.

Pudgy Penguins has officially sold over 1 million toys in the past 12 months. They recently announced that their products are now available in one of Australia’s largest retail chains, Big W, as they continue their global expansion.

Yuga Labs has faced backlash over their new 500-piece CryptoPunks collection in collaboration with artist Nina Chanel Abney. With CryptoPunks owners had expressing concerns about the brand being diluted by the new collection, Yuga Labs informed they will “no longer touch” CryptoPunks. 

Param Labs have announced that it has raised $7 million in funding. The round was led by Animoca Brands, with participation coming from investors such as Delphi Ventures, Mechanism Capital among others.

PROJECT SPOTLIGHT

YIELD GUILD GAMES $YGG

BEFORE YOU GO

Join the Convo: 

What project has you feeling hyped this week? Any hidden gems on your radar, or things I’ve missed? Hit reply and share your thoughts!

_{Important Disclaimer: This content is for informational purposes only and should not be considered financial advice. Accuracy not guaranteed. Always do your own research before making any trades.}