Crypto Tokens Tied to Video Games Experience Significant Gains
Crypto tokens associated with video game projects and platforms have seen substantial gains in the past week. Axie Infinity (AXS), ApeCoin (APE), and Iluvium (ILV) are among the top gainers among the top 100 cryptocurrencies by market cap.
Axie Infinity’s Rise
Axie Infinity has experienced a surge, rising 12% in the last seven days, with a current price of $6.88. The token reached a six-month high over the weekend, peaking at $7.55. AXS has seen a 35% increase in the past month, while Smooth Love Potion (SLP), another Axie game token, is down 9% over the week but up 17% from 30 days ago.
Developments in Sky Mavis
Sky Mavis, the developer of Axie Infinity, made significant announcements recently. They reintroduced the original Axie Infinity monster battling experience called “Axie Classic” and released their first wave of official Axie merchandise. Additionally, commercialization rights were granted to owners of rare Axie NFTs, allowing them to transform their creatures into products and projects.
The Impact of Ronin
Axie’s recent rebound can be attributed to the growing momentum around Ronin, its Ethereum sidechain network designed for blockchain gaming. The launch of the new game Pixels has contributed to increased adoption of Ronin. The RON token has surged 27% in the past week, reaching a current price of $1.06 and doubling in price over the last 30 days.
ApeCoin’s Rise and Otherside Metaverse Game
ApeCoin (APE) has seen a 7% increase in the past week, with a current price of $1.63. The token reached $1.77 over the weekend, the highest price in over three months. APE is associated with the Bored Ape Yacht Club NFT ecosystem and will power the upcoming Otherside metaverse game.
Other Notable Gainers
In addition to Axie Infinity and ApeCoin, Stepn (GMT) experienced an 11% increase to nearly $0.29, Illuvium saw a 9% uptick to about $114, and the Treasure (MAGIC) gaming ecosystem token jumped by nearly 24% to $0.83 after announcing plans to launch its own chain.
Hot Take: Crypto Tokens in Video Games Thrive as NFT Ecosystem Expands
Crypto tokens linked to video game projects and platforms have emerged as some of the top performers in the cryptocurrency market. Axie Infinity’s recent success can be attributed to new developments and the growing popularity of its sidechain network, Ronin. Similarly, ApeCoin’s rise highlights the potential of NFT ecosystems like Bored Ape Yacht Club. As blockchain gaming continues to gain traction, these tokens are likely to see further growth and innovation within the space.
By
By
By
By
By