AXS Price Spikes, Is GGTK, DXO, + PYR Next in Crypto Gaming?
A budding ecosystem that is exploding alongside the NFT collectibles space is NFT gaming. In NFT gaming, players compete with one another to earn rewards such as tokens and NFT collectibles. Recently, rallies abound in the space as evidenced by significant changes seen in token and game creators Axie Infinity, Netwrk Multiverse, and Vulcanverse.
Axie’s NFT game Infinity previously made headlines by hitting a record $1.1 billion in sales, becoming the world’s highest-grossing NFT project and being dubbed the first “unicorn” in NFT gaming. Previously enjoyed by 110,000 users in June, that user base ballooned to an overwhelming 1.02 million in August, marking an 830% increase in just under 2 months. Fun and engaging, the game allows users to breed, buy, and sell digital pets known as Axies, with each Axie being minted as an NFT.
On September 30th, the Axie Infinity team made an impressive staking announcement that set forth a ton of interest in both the game and its token. Axie intraday staking and 300% annual percentage rates (APR), leading the AXS token price to momentarily jump roughly 200% to $155. But the rollout of the staking dashboard was not the only factor affecting AXS’s price – the play-to-earn game announced it would be distributing more than $60 million worth of tokens to early adopters, something that has inevitably fed back into its staking pool adding even more fuel to its price. Lastly, the continued interest around the play-to-earn model in gaming, largely due to Axie Infinity’s clever marketing skills and partnerships (such as theirs with Samsung), helped was ATH in its current ATH of $130 – nearly double the value of last week’s ATH of $78.
Psst…want more on the Axie Infinity price spice and how it relates to the GGTK token? Check this out!
The first incubated project in the Netvrk Multiverse, Deep Space is a game-ified space exploration metaverse project that will utilize both the $DXO and $NTVRK tokens. Should this game garner as much interest as Axie’s monster arena, it will catapult NFT and crypto gaming into the realm of investment opportunities and not just quirky pastimes.
The decentralized gaming platform GGApp (powered by the GGToken) is also primed for a price soar as its unique setup is developed to reward nearly everyone in the sphere. Developers, players, and liquidity providers are all rewarded with tokens for their participation, thus increasing incentive across all levels of involvement and creating a game with economic benefits like no other. On October 27th, the GG DApp initial beta version is set to launch. The announcement was made on Twitter with a graphic that says, “play invest and get rewarded”. Should this launch go off without a hitch, the GGToken will undoubtedly reap the benefits.
And to round out our time in the crypto arcade is the blockchain gaming platform VulcanVerse’s VulcanForge and its token PYR. The fantasy game is set in Greco-Roman times, but there is nothing outdated about the way PYR could soar should this game continue to be widely adopted. Most recently, a collection of NFTs representing real estate in VulcanVerse was quickly sold out, signaling a ton of interest in this metaverse.
Crypto gaming almost seems like a childhood fantasy of ours come to life, something that these budding projects have managed to harness very well. After all, what sounds better than getting paid to play a game?
For more on alt season and the coins to watch, check out this round-up of the best altcoins of 2021.