,, and Gala Games are among the Metaverse and GameFi tokens leading the recent market boom.
and GameFi tokens are currently leading the Christmas market rebound, outperforming other top assets.
Metaverse tokens are regaining momentum
It looks like a good Christmas for GameFi projects.
After rebounding above the key psychological level of $ 50,000, the broader cryptocurrency market has bounced back from the recent slump at the time of writing. Metaverse and Blockchain– Gaming projects – sometimes referred to as “GameFi” projects – are currently leading the way with some of the highest daily increases in the top 100 crypto assets.
“GameFi” is a crypto buzzword similar to “DeFi“Which relates to gaming and finance. Many Metaverse-related projects combine the two fields by adding a game-for-earn dynamic to their games. GameFi is widely recognized as one of the most significant new trends for crypto and the metaverse today.
The sandbox is currently the biggest winner among the Metaverse and GameFi projects. the SAND-Token of the game was trading at $ 6.30, up 22.9% that day.
SAND / USD chart
Since the name change from Facebook (NASDAQ 🙂 to Meta, which triggered the current Metaverse token bull run, The Sandbox has had the then leading Metaverse project Decentraland in terms of the Market capitalization obsolete. The reversal could suggest investors see the sandbox as a better prospect than Decentraland to get value from the current Metaverse hype. Several companies recently announced the purchase of in-game land, including Adidas (OTC 🙂 and PwC Hong Kong.
While Decentraland can’t keep up with The Sandbox’s profits, it has also done well from the recent hype. The MANA token of the virtual world game rose by 15.5% over the day, surpassing many top assets. Decentraland is hosting several events that players can attend over the Christmas season, including virtual snowball fights and live music performances.
Smaller GameFi tokens also look strong. Gala Games, which recently launched land sales for their newest game, LEGACY, posted a 7.8% gain on Friday. The GALA token is one of the biggest winners of the year, rising more than 725% to one in November All time high of $ 0.71.
While the sharp moves in the price of Metaverse and GameFi projects still show they are trading back their all-time highs seen in November, investors are still bullish on the sector through 2022. It remains to be seen whether these projects can fulfill their vision in the next year.
Source: Crypto News Deutsch