The gaming token market is witnessing an impressive recovery, with The Sandbox leading the way, increasing over 32.3% in the last 24 hours, reaching a price of $0.8. This is a 243% increase in one month, signaling the return of blockchain gaming platforms after a long period of pressure.
The main driving force behind the market
According to Gabby Dizon, co-founder of Yield Guild Games, gaming tokens not only hold financial value but also represent the ownership and control of players over digital assets. The Web3 ecosystem provides a strong connection between developers and players through tokens like SAND, MANA, and GALA (Gala Games).
• SAND achieved over $880 million in trading volume in 24 hours, an 88% increase compared to the previous day.
• GALA increased by 17.5%, while GALA increased by 21.8%, raising the market capitalization to over $2.1 billion.
• Axie Infinity also recorded a 21.1% increase, reaching an 8-month high price of $9.29, despite Sky Mavis just cutting 21% of its workforce.
Momentum after challenges
Previously, gaming tokens were one of the segments most heavily affected by the overall market downturn and the changes following Bitcoin's halving. However, the trust in digital asset ownership and DAO (Decentralized Autonomous Organization) platforms has kept the Web3 gaming community continuing to grow.
Gabby Dizon stated: “Successful games will be those that build a strong community and have real value.”
Optimistic signals
The gaming token market currently has a total capitalization of $5.4 billion, up 6% in a day. With the return of top games and the appeal of blockchain gaming, this field is gradually asserting its position on the map.