The Rise of Crypto Gaming in 2024
A well-known crypto analyst, Miles Deutscher, recently predicted the beginning of a groundbreaking bull run in the history of crypto gaming. This forecast comes as the gaming sector experiences remarkable growth, evidenced by milestones like the quadrupling of Heroes of Mavia’s value and the introduction of Gunzilla Games on the XBOX platform.
A Shift in the Gaming Market
These developments have led to a staggering $20 billion gaming market cap, indicating the early stages of a significant market shift. Deutscher believes that these achievements are just the start of a larger trend.
The biggest bull run in crypto gaming history is about to begin.$MAVIA set the tone, but it's only one of many high-profile launches coming this year.
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crypto gaming is its accessibility, the incentive for engagement, and the potential to onboard millions of new users to blockchain technology. “Gaming has all 3 of these traits,” he asserts, suggesting that the sector is at a pivotal moment of growth and adoption. The significant investments made in 2021 and 2022 are starting to bear fruit, with the sector’s rapid expansion, particularly in mobile gaming, serving as a catalyst for widespread adoption.
Mobile gaming, according to Deutscher, offers a “less-intimidating gateway to crypto,” potentially mainstreaming blockchain technology through gaming.
Detailing his investment strategy, Deutscher recommends a tiered approach encompassing gaming infrastructure, studios, and individual games. This strategy aims to balance risk and reward across the sector’s diverse landscape. “At the base, is gaming infrastructure (lower risk, lower reward). In the middle, is the gaming studios (medium risk, medium reward). At the summit, are the individual crypto games (high risk, high reward),” he explains.
Top Gaming Altcoins in 2024
Deutscher’s top recommendations within the crypto gaming ecosystem include:
- Immutable (IMX): A foundational investment in gaming infrastructure with Layer-2 scaling solutions that support high-budget games. Immutable X has significant growth potential with key releases and the Immutable Passport streamlining wallet usage.
- Vulcan Forged: A comprehensive blockchain gaming ecosystem featuring Vulcan Studios and Elysium, a carbon-neutral Layer-1 blockchain.
- Echelon (PRIME): Known for hosting successful crypto card games and expanding its gaming studio, Parallel Finance.
- Merit Circle: Positioned as a top bet in gaming infrastructure for its development of gaming SDKs and upcoming game launches.
- Heroes of Mavia (MAVIA): A mobile game with over 1 million downloads known for its addictive gameplay.
- SHRAPNEL (SHRAP): A competitive first-person shooting game built on the Avalanche blockchain with high-quality graphics.
- Nakamoto Games (NAKA): A gaming studio with a diverse portfolio of over 200 games, emphasizing a mobile-first approach.
Deutscher also highlights upcoming launches like Aether Games and Blood Loop that are expected to make significant impacts in the sector. He believes that there are potential gems in the evolving market yet to be discovered.
Hot Take: The Future of Crypto Gaming
The crypto gaming industry is on the verge of an unprecedented bull run, driven by accessibility, engagement incentives, and the potential to onboard millions of new users to blockchain technology. With the rapid expansion of the sector, particularly in mobile gaming, it serves as a catalyst for widespread adoption. Deutscher’s tiered investment strategy, focusing on gaming infrastructure, studios, and individual games, offers a balanced approach to risk and reward. As we look ahead to 2024, key altcoins like Immutable (IMX), Vulcan Forged, Echelon (PRIME), Merit Circle, Heroes of Mavia (MAVIA), SHRAPNEL (SHRAP), and Nakamoto Games (NAKA) present exciting opportunities for investors in the crypto gaming space.
At press time, MAVIA traded at $8.38.
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