The metaverse tokens surge in value during the Christmas time recovery and Decentraland, Gala Games, and The Sandbox are among the ones that are leading the way so let’s read more in today’s altcoin news.
Metaverse tokens are leading the Christmas recovery and are outpacing the gains made by other assets. But it also looks like a good Christmas for Gamefi projects as well. Following Bitcoin’s recovery above the key level of $50,000 the wider crypto market started to bounce back from the dip and both the blockchain gaming projects and metaverse, projects are leading the charge with a high daily increase in the top 100 crypto assets. GameFi is a buzzword in the crypto space as well and it is similar to Defi but refers to gaming and finance. Most Metaverse projects like Axie Infinity combine these two fields by adding play-to-earn dynamics to their games and GameFi is believed to be one of the most important trends for crypto today.
The Sandbox is the biggest gainer among GameFi projects and the SAND token is now trading at $6.30, increasing by 22.9% on the day. Since Facebook rebranded to META, setting of the current token bull run, the Sandbox overtook the leading Metaverse project Decentraland in terms of market cap and the flip could indicate that the investors see this proejct as a better prospect than Decentraland to capture the value from the current hype in the Metaverse. A few other companies already announced the purchase of land plots in the game including PwC Hong Kong and Adidas.
While Decentraland hasn’t matched the Sandbox’s gains, It’s doing well after the hype. The virtual world’s game MANA token is up by 15.5% on the day and it is outperforming most top assets. Decentraland is hosting a few other events over the festive season for the players to take part in including live performances. Smaller GameFi tokens are looking strong as well. Gala Games launched a land sale for its latest game LEGACY and posted a 7.8% gain on the day with the token being one of the biggest gainers of the year as it surged more than 725% to an all-time high of $0.71.
While still trading off their highs reached in November, the strong price action from these Metaverse tokens is showing that the investors are bullish on the sector as they are entering 2022.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post