Trump tariffs impact gaming tokens after Deadrop shut down

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Bitcoin’s price and that of other cryptocurrencies took a downward turn this weekend, largely due to Trump’s announced tariffs. On Monday, I heard a couple of X Spaces hosts raise the alarm about the price drop. They acted as if it was the end of the bull run. 

Things are recovering now, and it is Tuesday. Since the tariffs for Mexico and Canada were delayed, bitcoin and other cryptos have recovered partially.

In many cases, it is the case that gaming tokens have been harder hit.

Immutable’s IMX coin fell by 14% between Sunday and Monday. It has recovered some of the loss since then but is still down 26% over the last week. 

e50467fdfea3981a6dd1dadc70123238 - Trump tariffs impact gaming tokens after Deadrop shut down

There are other notable markets:

  • SAND, GALA Ronin AXS MANA BEAM APE PRIME and all other products saw the same price drops, ranging from 21 to 30 percent. 
  • In the last seven days, Notcoin has fallen by 35%.
  • PIXEL dropped by approximately 32%. 

It’s still not all bad in the sector of gaming tokens.  

Sui’s price has dropped by less than 2 percent in the past seven days. Sweat Economy is still on the move, with its price increasing by about 8% over the last week. GoMining, Xterio, and smaller tokens are also modestly up. 

That’s just a handful of winners though — price data shows that most other gaming tokens have had a rough week.

XP Alert 

Abstractly, Pudgy Penguins’ blockchain does not (yet) have any native tokens. But it is issuing XP — gamerspeak for experience points — and distributing it for the first time today. How did you fare?

See also  A crypto lawyer predicts a ‘dramatic increase' in memecoin lawsuits

Deadrop is dead — we all know why

Midnight Society, the company behind the film “The “vertical extraction shooter” Deadrop is no longer in business. 

It had promise — think Call of Duty for crypto fans with a heavy Bladerunner vibe. You could also drive cars into battle, right? It’s cool, right?

Deadrop’s early death, however, is not surprising. 

Last year, one of its other co-founders and primary marketer — Guy “Dr. Disrespect” Beahm — admitted in a (since-deleted) X post that he had inappropriate conversations with a minor. Beahm was permanently banned from Twitch for that incident, after it had been hidden under the radar for several years.

In September, shortly after the news was released late last year about this studio’s closure, it laid off several staff members. Last week, the company posted a short note to announce its closure. The studio has not revealed the exact reason for closing, instead asking that its 55+ game developers look for new jobs. 

Robert Bowling purged all of his social media before it was shut down.

A former Midnight Society worker told me that: “It is what it is. We just couldn’t get the Dr. D stink off us.” 

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leadzevs/ author of the article

LeadZevs (John Lesley) is an experienced trader specializing in technical analysis and forecasting of the cryptocurrency market. He has over 10 years of experience with a wide range of markets and assets - currencies, indices and commodities.John is the author of popular topics on major forums with millions of views and works as both an analyst and a professional trader for both clients and himself.

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