GameFi sector hit by market downturn, but top games like Pixels show growth amid Tokyo Game Show's web3 gaming buzz
TLDR
- GameFi market dips due to global tensions, but recovery signs show in top coins.
- Top games this week: Pixels and PlayEmber.
- SuperVerse is the only top gainer (+0.50%) while most tokens posted losses.
- Tokyo Game Show 2024 highlights growing web3 gaming trends.
So let's dive into this week's state of crypto gaming!
Market Overview
GameFi’s resurgence has been unstoppable this past month until it got… stopped.
On 28 September, it hit the $22 billion mark, only to crash as geopolitical tensions arose.
Not even Bitcoin, was not spared. We’re now sitting at $17.93B, with volume declining from $2.88B to $1.77B, the same levels at the conclusion of Token2049 two weeks ago, and markets are anxiously seeing how the whole situation plays out.
Add to this everyone’s uniform bullishness about Uptober earlier this week, and you just know that the bears would seize this opportunity to put max pain on the bulls where they can.
Last week I said: “We’ll have to see now if it holds, as all that Singapore attention slowly evaporates.”
This doesn’t feel like a case of lost interest, especially with so much hype around Web2 players like Sony and Amazon entering the space.
In the last 24 hours, the top coins have started to recover, which is a great sign.
Blockchain Gaming Activity This Week
World of Dypians and Seraph: In The Darkness, last week’s most popular games, have despite solid UAW gains this week been usurped on the DappRadar leaderboard by new number 1 Pixels and number 2 PlayEmber, who increased their unique active wallets by an impressive 29% and 88% respectively.
The good news is that most top blockchain games seem to have increased their player count in the last 7 days despite the wobbly market conditions. Gamers play.
Top Coin Movements
Ugh. After last week’s bullish gains, this week was a disaster if we look at our Top Gaming Tokens rankings.
Top Gainers (7D)
- All cryptocurrencies listed show negative 7-day performance except SuperVerse (+0.50%).
- Most top crypto gaming tokens experienced double-digit percentage losses over 7 days.
Worst performers (7D):
- Hamster Kombat (-31.33%),
- BinaryX (-28.27%),
- FLOKI (-20.08%)
It doesn’t get much better when we look at their 90-day performance. Only a handful of tokens, most notably SuperVerse (up 100%), have increased in value since the start of Q3.
On the upside though, it looks like most gaming tokens are starting to bounce back over the last 24 hours.
Latest Blockchain Gaming News
Tokyo Game Show 2024 Says Bull Run is On
OffTheGrid Now on XBox!
According to the Paul Barron Network, the bull run in Japan has already begun, if this week’s Tokyo Game Show is an indication.
The big gaming highlights include Battle Royale shooter Off the Grid's launch on Xbox, which follows its PS5 debut. It’ll be available in the Xbox Insiders Program, but these daily sessions are limited to the US and Europe with access given on a first-come first-serve basis.
Could this be the title that finally turns the Web2 gaming snobs round on crypto gaming? With visionary director Neil Blomkamp (District 9, Elysium) behind it, hopes are high.
- Sony and Startale’s Soneium Layer 2 blockchain had a huge presence at Token2049 last month, and has its aim to enhance digital assets and gaming, while Japan’s government continues to back these advancements.
- Other key highlights include PalWorld’s collaboration with Sony Music, signaling potential web3 integration with in-game skins and DLCs, and Crafton’s expansion into the metaverse with a Roblox-style platform leveraging blockchain.
- Amazon also entered the space with its first-ever web3 gaming rewards pack, while Mythical Games demonstrated groundbreaking interoperability between different blockchain ecosystems.
Animoca Brings Lamborghini To The Motorverse!
This is huge, take a bow, Yat Siu! (And look out for my Token2049 interview with him that should be coming out soon).
Lamborghini and Animoca have teamed up to launch Fast ForWorld, an NFT hub that integrates Lamborghini's iconic cars into the Animoca Motorverse. Users can access games and experiences, with interoperable, playable NFTs across titles like Torque Drift 2 and REVV Racing. The platform launches in November 2024, requiring NFT access.
Ton Gaming Surges in Q3
The TON blockchain saw a 320% surge in gaming titles during Q3 2024, reaching 385 games. This growth was fueled by new projects like Flappy Bird and previously successful titles such as Notcoin and Hamster Kombat. TON's integration with Telegram has also boosted game developer interest.
Web3 Game of the Week Spotlight
Disclaimer: The following is not an endorsement of the cryptocurrency discussed, or financial advice of any kind. It does not reflect the opinions of CoinMarketCap. It is all based on the analysis done above. It does not guarantee any future success of this cryptocurrency. Please DYOR.
Pixels (PIXEL)
PIXEL 7-day chart
Pixels is a Web3 game blending farming, exploration, and social elements, powered by the Ronin Network. Players use the PIXEL token for NFT minting, in-game purchases, and exclusive features. With guild participation and a player-driven governance system, it offers an immersive, community-focused blockchain gaming experience. The founders of Pixels are Luke Barwikowski, Alexander Moyer, and Ashwin Kumar.
What You Can Do
- Explore new GameFi tokens as some show signs of recovery after the recent dip.
- Keep an eye on macro events before you start buying though.
- Check out top blockchain games like Pixels and PlayEmber, currently leading in player activity.
- Stay updated on Tokyo Game Show insights to anticipate upcoming blockchain gaming trends.
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