Can Bitcoin ETF Hype Revive GameFi and Bolster Crypto Confidence? ✊🏻
#Animoca Brands founder Yat Siu highlights that the buzz around a potential Bitcoin ETF is not only pushing up Bitcoin prices but also rekindling interest in blockchain games and GameFi.
Rising cryptocurrency prices have restored investor confidence in Web3 gaming and spurred a surge in related on-chain activity.
Siu emphasizes the importance of assessing various indicators, including on-chain activity, to gauge the growth and conviction in the #GameFi sector.
Data shows increased activity in blockchain-based games like Axie Infinity. Siu believes Bitcoin remains the cornerstone of the entire crypto ecosystem, anticipating that a spot Bitcoin ETF approval will bring legitimacy and traditional institutional investment.
He envisions the crypto sector eventually evolving beyond its Bitcoin reliance. As the market matures, it may outgrow its dependence on #bitcoin , but for now, Bitcoin remains the reserve currency of Web3.
