Blockchain gaming is surging in popularity, and gaming tokens are increasing in value rapidly.
Blockchain games are bouncing back this year. According to the DappRadar Blockchain Games Report, the market cap for gaming tokens increased by 122% on average in January.
What is more, investments in blockchain games and metaverse projects soared to $156M. Indeed, gaming is driving almost half of all blockchain activity.
The comeback
Following a tough 2022, we’re witnessing a major fightback from the blockchain gaming industry. Analytics from DappRadar show that the GALA token is the most improved gaming token. Indeed, the GALA token’s market cap increased by 218% in January, to $384M.
Additionally, the ApeCoin by Yuga Labs is also on the rise, and leads the pack in terms of market capitalization with $2.04B – a 53% increase.
The rally of ApeCoin and GALA token is owing to the hype surrounding each project. For example, Yuga Labs launched its Sewer Pass in January – an innovative project that allows players to use their NFTs to play games and earn rewards.
Furthermore, GALA is generating much excitement after its recent acquisition of a mobile gaming studio with over 20 million active users.
Movers and shakers
Among the leading gaming tokens is the MAGIC token, which surged 185% with a market cap of $287M. With this token, you can navigate the intriguing new world of TreasureDAO. Within this virtual platform, players can build their own metaverse, and create experiences for others to enjoy. Hence, the MAGIC token can be used to monetize the experiences, as well as buy, sell, and rent land.
Moreover, Axie Infinity is making its comeback. Trading volume for the game surged 71% in January, reaching $7.2M. Indeed, Axie Infinity continues to innovate, and just launched ‘Homeland’ and ‘Origins Season 2’.
Elsewhere in the blockchain gaming universe, Alien Worlds remains on top spot, with Splinterlands and Planet IX making huge gains in January. In fact, Alien Worlds attracted 225k unique active wallets (UAW), with Splinterlands and Planet IX adding 183k and 78k respectively.
