The Rise of Gaming Tokens Among Other Blockchain Assets

On Nov 10, 2023

Despite a year-long decline, the Web3 landscape finally appears brighter. In the NFT world, October sales soared by 32%, spurred by a significant $1,136,658.03 (600 ETH) CryptoPunks transaction and an NFT-focused episode of The Simpsons.

On top of that, in the crypto realm, Bitcoin ($BTC) is soaring today, nearly touching $38,000, giving early investors back those sorely missed bull market vibes.

$38,000 is the next victim. #Bitcoin pic.twitter.com/usdArYM1td
— BITCOINLFG® (@bitcoinlfgo) November 9, 2023

Still, the Web3 world goes beyond NFTs and well-know cryptocurrencies, like $BTC. Gaming and Metaverse tokens also play a tremendous part in the blockchain industry’s rising trajectory.

Triumphing Gaming Tokens

To contextualize the benefits of GameFi coins, let’s look at Illuvium. Spurred by revealing going mainstream on Epic Games, the blockchain game’s token ($ILV) rapidly soared by a whopping $79.5% in just seven days and 122.6% over the past 30, hitting a coin price of $90.43 and 24-hour trading volume of $77,012,963.

Similarly, ImmutableX ($IMX) has also significantly risen this past week, by 32.9%, sparked by its groundbreaking partnership with the world-famous video gaming titan Ubisoft. Today, the token’s 24-hour trading volume stands at an eye-boggling $594,694,735 – over 50% of the coin’s market cap of $1,132,601,917.

Additionally, Star Atlas DAO’s token, $POLIS, had a recent uptick, increasing by 20.9% in just 24 hours. Differently, the reason behind the token’s rapid spike includes acting as the gateway for governance in the sci-fi-based Metaverse game built on the Solana blockchain network, signifying new developments being underway.

Another blockchain gaming token worth giving a shout-out to is Gala Games’ native token, $GALA, which rose by a notable 25.5% this past week. Reasons behind the token’s popularity include the playtest version of ‘The Walking Dead: Empires’ recently going live on the Gala ecosystem.

Last but not least, The Sandbox, which has a 24-hour trading volume of $137,275,405.38, is climbing higher. Despite dipping by -4.8 over the past 24-hours hours, $SAND has enhanced by 5.3% in the past 7 days with potential for increased growth following the Metaverse’s recent collaboration with Gucci.

Such successes present the dynamism and diversity of blockchain gaming/Metaverse tokens, spotlighting their significant contributions to the Web3 realm’s unceasing revival and promising future beyond NFTs and renowned digital coins.

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