Top Stories

GUN Token Expands to Solana, Focusing on Accessibility

Following its debut on Avalanche’s GX Network, GUN – the token underpinning the Off the Grid metaverse – announced its expansion to Solana on Thursday. The strategic move aims to broaden accessibility for users, aligning with the broader Gunzilla multi-chain strategy.

However, the token’s price saw a sharp decline in the days following the launch, as reported by CoinGecko data. Despite this volatility, in-game NFT trading activity has shown robust growth. Between mid-June and early July, the Off the Grid marketplace processed approximately $666,600 in NFT volume, highlighted by a single $5,499 sale of the Tacoma Pioneer gun skin.

Current holders of the GUN token on Avalanche have the option to bridge their assets to Solana, though the move doesn’t revoke their existing holdings. Industry observers note that, while the Solana expansion addresses entry barriers, developers are anticipating a more significant impact on the game’s NFT economy once OpenSea integrates as a marketplace.

A cryptic note often attributed to Satoshi Nakamoto, creator of Bitcoin, continues to circulate within crypto communities as new analyses emerge.

Crypto Gaming Projects Face Increasing Pressure

The challenging environment for crypto gaming persists. Following a pattern of setbacks seen across the sector, OpenSeason confirmed its shutdown last week. The Fortnite-inspired battle royale title ceased operations amid escalating operational costs and dwindling funding.

Though the original game is gone, its development team has pivoted towards a new venture, Booby Bot, a simple gambling game featuring AI-generated female imagery. The OpenSeason shutdown underscores the financial pressures and strategic challenges currently facing many projects in the space.

This trend highlights broader industry concerns that were detailed recently in Decrypt’s analysis of crypto game failures: the “why” behind the challenges includes fading hype, token price pressure, and the significant hurdles encountered when developing and sustaining engaging gaming experiences under crypto models.

Catch-Up Reading

Decrypt’s weekly GG roundups deliver timely news and digest navigational aspects of the rapidly changing crypto gaming space, alongside supplementary insights missed elsewhere.