Original author: CMC
The GameFi market is heating up. According to our data, the market capitalization has risen to about $22 billion, a sharp increase from $16-17 billion last week. Trading volume has also increased significantly and is currently around $1.4 billion. Many people have called the gaming track dead, but after Singapore 2049, market attention has gradually returned. We need to see if this statement is still true.
The gaming track heats up
The release of the Solana handheld game console has injected new vitality into the GameFi space. All this happened shortly after Sui released its own gaming device. What exactly do these leading public chain ecosystems see that we don’t see at the moment?
Solana gaming hasn’t quite caught on since the last bull run — but as Star Atlas demonstrated at Breakpoint, the use case is alive and well. At an online event, Star Atlast and a number of other upcoming games showed off their demos.
As this year’s TapFi explosion and past Axies Infinity craze have shown, while the Solana console may seem low-tech, it could still be a game-changer in the space, allowing for wider adoption of blockchain gaming.
You don’t need a AAA game to attract crypto gamers to join. Just make it playable enough and worth their time.
This week's blockchain game events
According to DappRadar, World of Dypians and Seraph: In The Darkness currently lead the GameFi space in terms of unique active wallets, with both games having over 500,000 unique active wallet players.
Token Price Trends
The best performing GameFi tokens over the past 7 days are:
1. Notcoin (NOT): led the way with a staggering 25.09% gain;
2. FLOKI: showed strong momentum with a 24.71% increase;
3. Gala (GALA): climbed steadily, up 18.12%;
4. Beam (BEAM): Steady increase of 13.46%;
5.Axie Infinity (AXS): rose 5.33%, ranking among the top five.
Other notable 7-day performances:
The Sandbox (SAND): up 2.88%
Decentraland (MANA): up 6.81%
Illuvium (ILV): up 10.60%
Yield Guild Games (YGG): up 10.73%
Key observations
1. This week we saw generally positive movement across many GameFi tokens, with several achieving double-digit growth. The overall market cap growth in the sector indicates growing investor confidence.
2. Exciting news: Play Solana announced the launch of the first web3 gaming console, which could be a major catalyst for mainstream adoption of blockchain gaming.
3. While weekly gains are encouraging, it’s important to remember that many of these coins are still down significantly year-to-date. Continued interest and innovation are critical to long-term growth.
Latest blockchain game news
1. Play Solana launches the first crypto gaming handheld: Play Solana Gen1 (PSG1) aims to revolutionize the GameFi landscape. Pre-orders will be announced at the Solana Breakpoint conference, and Player 1 NFT holders will receive priority access.
2. Line Next announced the launch of the Web3 Mini Game Platform: The platform will be launched in the fourth quarter of 2024 and aims to bring blockchain games to Line's 2 billion active chat users. The Web3-based solution allows seamless access to games and dApps within the Line application. Line Next will also launch Kaia Wave, a developer program backed by $10 million in funding.
3. Axie Infinity via Axie Pals plugin: Sky Mavis has launched Axie Pals, a Tamagotchi-style Google Chrome extension. This AI-driven feature allows users to interact with their Axies, earning AXP points and potential AXS tokens by ranking on leaderboards.
4. Samsung Next expands cooperation with Startale Labs: This cooperation aims to support Sony's new blockchain project Soneium through the Soneium Spark incubation program. The entry of such a large-scale technology giant into the Web3 gaming field is undoubtedly good news for game studios.
5. Hamster Kombat Token Release: The HMSTR token debuted on the Open Network (TON) with over $1.2 billion in trading volume in the first 24 hours. Although some players were disappointed with the size of the airdrop, the token’s performance put it on par with major cryptocurrencies.
Web3 Games of the Week
Disclaimer: The following does not constitute an endorsement of the project or its tokens, please be cautious when investing in any cryptocurrency, DYOR.
SERAPH: IN THE DARKNESS
Seraph: In the Darkness is a popular Web3 game where fantasy and destiny intertwine in a rich, immersive universe. Here, players will explore a world filled with ancient magic, powerful enemies, and hidden truths while carving their own path through a land of conflict and legend. This action-RPG is a fascinating and challenging blend of action, strategy, and an evolving story.
What can I do?
1. Follow the Play Solana Gen1 pre-order announcement. If you are a Player 1 NFT holder, get ready to take advantage of your priority access.
2. If you are a Line user, please prepare for the upcoming web3 mini-game platform. Developers should research the Kaia Wave program for potential funding opportunities.
3. Axie Infinity players should check out the new Axie Pals expansion and start interacting to earn AXP points.
4. Considering the impressive launch performance of the Hamster Kombat ecosystem, consider exploring its potential, but be aware of the impact of its massive airdrop.
5. Stay tuned for more news from the Solana Breakpoint conference and progress on the Soneium project, as they may bring more exciting announcements for the GameFi department.
Remember, in GameFi, a new level is unlocked every day if you play well - keep working on it, stay updated, and play smarter!
