The Metaverse Gaming Tokens Rebound with Double-Digit Gains
The speculation surrounding the potential approval of a Bitcoin spot exchange-traded fund (ETF) has had a positive impact on the broader crypto market. However, it is the gaming and metaverse tokens that have experienced significant gains over the past week. One of the biggest winners is GALA, the token of the Gala Games ecosystem, which has risen by 42% to reach a current price of $0.02 per token according to CoinGecko. Despite experiencing a 7% dip in the past day, GALA’s peak price on Sunday was its highest since mid-August.
Another notable gainer in the gaming space is AXS, the governance token of Axie Infinity, a play-to-earn monster-battling game. AXS has surged by 28% over the past week to reach a current price of $5.76. Similarly, ApeCoin (APE), the Ethereum-based token of the Bored Ape Yacht Club ecosystem, has seen a 20% increase in price over the past week, reaching $1.36.
MANA, the token of Decentraland metaverse game, has experienced a 21% jump this week, while The Sandbox’s SAND token is up almost 15%. In comparison, Bitcoin has only increased by 10% over the last seven days.
Gala Games and Legacy Release
Gala Games is a publisher of various NFT-based video games such as Champions Arena and upcoming titles like Mirandus and The Walking Dead: Empires. GALA’s sharp gains last week were attributed to the release of Legacy, a business simulator game developed by 22Cans, led by renowned developer Peter Molyneux.
Hot Take: Gaming Tokens Thrive in the Metaverse
While the broader crypto market has experienced positive momentum due to the potential approval of a Bitcoin ETF, it is the gaming and metaverse tokens that have seen substantial gains. GALA, AXS, ApeCoin, MANA, and SAND have all surged in value over the past week, outperforming Bitcoin. This highlights the growing interest and investment in the gaming and metaverse sectors, as more individuals recognize their potential for growth and profitability. As the metaverse continues to evolve, these tokens are likely to play a crucial role in shaping the future of digital economies.
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