The use of Web3 gaming protocols to onboard millions of users to the crypto and blockchain industry has helped the respective tokens to experience parabolic rallies.
The rise of Bitcoin (BTC) and Ethereum (ETH) to globally accepted digital assets has opened up new markets that were locked out of the siloed financial systems. According to a weekly report from CoinShares, crypto investment products have attracted about $5.2 billion in cash inflow year-to-date. However, the figure is still quite low compared to global debt levels amid high fiat inflation levels.
With around half a billion people invested in the crypto market, experts have unanimously found that the use of the Web3 gaming industry could onboard more users at a faster rate in the coming years.
Moreover, the Web3 gaming industry has embarked on a journey to revolutionize the Web2 gaming ecosystem that has over the years neglected the players. The Web3 gaming industry, through the use of interactive metaverse platforms and digital assets, has engaged more players in profit sharing.
Top GameFi Tokens to Watch This Bull Cycle
After the Bitcoin price closed above $52,000 last week for the first time in more than two years, Ethereum price also followed the bullish breakout. As a result, the entire crypto market has reclaimed $2 trillion, and the altcoin market has signaled further gains.
Xai (XAI)
Xai (XAI), a gamified token developed by Offchain Labs on the Arbitrum (ARB) technology, has registered gains of more than 50 percent in the past two weeks. The XAI token gained around 20 percent in the past seven days to reach an all-time high (ATH) of around $1.39 in the past 24 hours. The small-cap altcoin, with a fully diluted valuation of about $1.2 billion, has a liquidity in ETH of around $2 million.
Heroes of Mavia (MAVIA)
The Heroes of Mavia (MAVIA), a mobile Web3 MMO Strategy game developed by Skrice Studios, was recently launched and has been on a rising trend. According to the latest market data provided by Coingecko, MAVIA price reached an all-time high (ATH) of around $10.59 on February 18. The small-cap altcoin, with a fully diluted valuation of about $2.1 billion, has a liquidity in WETH of around $9 million.
Beam (BEAM)
The Beam (BEAM) protocol, a gaming ecosystem that is empowered by the Merit Circle DAO, has been on a rising trend in the past two weeks. According to the latest market data, BEAM price has risen by more than 93 percent in the past two weeks to trade around $0.033 on Tuesday. The Beam protocol has a vibrant community of gamers, thus making it possible to rally further in the near term.
Pixels (PIXEL)
The Pixels (PIXEL) gaming platform built on the Ethereum network and Ronin ecosystem has been trending in the recent past. The PIXEL token has risen about 18 percent in the past 24 hours to trade around 60 cents on Tuesday. The mid-cap altcoin has a fully diluted valuation of about $2.99 billion and a daily average trading volume of about $1.1 billion.
next