This Week in Web3 Gaming: Major Updates, New Launches, and Market Insights

June 30, 2024

Welcome to This Week's Edition of The Alchemists Informer!

Weekly Web3 Gaming Update

Welcome to The Alchemists Informer, your go-to source for the latest updates and new launches in the world of Web3 gaming. This week, we're diving into a series of exciting developments, from major game migrations and public playtests to significant partnerships shaping the future of the industry. Whether you're a gamer, developer, or simply a Web3 enthusiast, we've got you covered. Stay tuned for more updates and insights!

What to Expect

  • Updates

  • The Alchemists Spotlight

  • Job Opportunities

  • Market Update

  • Lumiterra Joins Ronin: Sky Mavis announced the migration of the MMORPG Lumiterra from Arbitrum to Ronin. Lumiterra is a free-to-play, cross-platform game that combines survival, crafting, and exploration.

  • Midnight Society Cuts Ties with Dr Disrespect: Midnight Society, the game studio co-founded by Guy "Dr Disrespect" Beahm, announced it was terminating its relationship with him following allegations of misconduct.

  • MARBLEX Partners with Immutable: Industry giant MARBLEX has chosen Immutable to create a new hub for Web3 gaming in South Korea, signaling a significant investment in the region's gaming infrastructure.

  • New Solana Feature: Solana introduced a new feature allowing users to make transactions on any website, enhancing the integration and usability of Web3 gaming and decentralized applications.

  • BloodLoop Public Playtest: BloodLoop, a 5v5 hero-shooter leveraging Web3 technology, opened its public playtest on the Epic Games Store, allowing players to participate in play-to-airdrop events and earn in-game rewards.

  • Shardbound Public Release: Bazooka Tango opened its game Shardbound to the public following a highly successful playtest, marking a significant milestone in the game's development and community engagement.

  • MetalCore Closed Beta 3 Launch: Studio369 launched the third Closed Beta (CB3) for its massively multiplayer online game MetalCore, introducing new PvP modes, faction-based social hubs, and the SHARDS off-chain currency.

  • The Beacon Writ of Passage Mint Sells Out: The Beacon successfully sold out their entire Writ of Passage NFT collection. The mint price was $400 per NFT, raising approximately $4 million.

The Alchemists Spotlight 🧙‍♂️

💼 Web3 Gaming Job Opportunities

  • Beam: Senior Accountant (Global, Remote) - Apply

  • Job Mobz: Gear Business Development Gaming Partnerships (Los Angeles, CA, Remote) - Apply

  • Immutable: Solution Architect - Gaming (EMEA, Remote) - Apply

  • Offchain Labs: Partnerships Manager, Web3 Gaming (Remote) - Apply

  • Brave: Director/Sr. Director - Ad Sales - Gaming (USA - East Coast, Remote) - Apply

Websites to Continue Your Job Search

Bitcoin's Key Predictions for July: Navigating a Bearish Market

As we step into July, the cryptocurrency landscape, particularly for Bitcoin, is stirring with anticipation and caution. This month is pivotal, marked by critical market closures and potential shifts. Here's a breakdown of the key predictions and analyses for Bitcoin in July, focusing on significant levels and potential scenarios.

Bitcoin's Recent Performance and Key Levels

Bitcoin has recently closed the month of June on the CME exchange slightly above the 5 Exponential Moving Average (EMA), a crucial indicator often used to gauge market trends. The closing price was $60,325, just above the 5 EMA positioned at $60,259. Historically, Bitcoin remaining above this level suggests a bullish trend, providing a favorable long-term outlook. However, the market is poised for potential volatility, and several scenarios could play out in July.

Best Case Scenario: Sideways Movement

Given the current market setup, the best case scenario for Bitcoin in July is a period of sideways trading. This scenario mirrors the trend observed in previous summers, where the market becomes "extremely boring" before potentially making a significant move in late August or September. This period of consolidation could serve as a foundation for a more substantial upward movement later in the year, particularly in Q4.

Worst Case Scenario: Downside Risk

Despite the hopeful outlook for a sideways trend, there is a notable downside risk. The 5-day stochastic oscillator, known for its high correlation with volatility expansion, is positioned to the downside. Historical data suggests that when this indicator points down, there is an 80% probability of a significant downward move. If this scenario unfolds, Bitcoin could see a move towards the 47,000 mark by the end of July or early August.

Volatility Indicators and Trend Lines

Currently, the 5-day volatility expansion has not been confirmed, but it is approaching. As volatility increases, a significant move becomes more likely. The new pivot level to watch is 68,500. If Bitcoin trades sideways for an extended period, this setup could evolve into a more bullish scenario. However, for now, the indicators favor a downside move.

Long-Term Predictions

For a broader perspective, the monthly HPDR (High Probability Density Region) bands show a median just below 47,000. This level aligns with the expected downside move, reinforcing the prediction that Bitcoin could test this region if the market trends downward. Additionally, the electrical cost of producing Bitcoin, which often acts as a fundamental price floor, is currently around 47,000. This convergence of technical and fundamental indicators around the same price point adds weight to the downside risk scenario.

Market Outlook and Strategy

While the immediate outlook for July might seem bearish, the longer-term prospects remain cautiously optimistic. If Bitcoin can maintain its position above the current lows, it could set the stage for a significant upward move later in the year. Traders should prepare for potential volatility and consider the possibility of a sharp move, whether to the downside in the near term or an eventual rally in the coming months.

In conclusion, July is shaping up to be a critical month for Bitcoin, with key levels and indicators suggesting a cautious yet watchful approach. The best strategy might be to brace for potential downside while keeping an eye on the long-term bullish potential that could emerge as the year progresses.

Not Financial Advice. DYOR

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Until we meet again in the gaming realm,