Todays topic are gaming coins. In previous bull run we saw some madness and nice gains for this tipe of projects specially for early investors. But all came to an end and what followed is a deep 90-99% correction on most of them
Today I prepared to you 7 different projects I think still have the potential and are in top 200 on CoinMarketCap and CoinGecko. As always I will introduce you to the project and give you my entry levels ( in green ) and at the end write a word or two where I see it going
Before I start writing we need to talk about Wychoff schematic because I noticed that most of this projects are in faze B and we are waiting for spring before the continuation to the upside
There is an example of Wychoff reaccumulation with phases and most of the projects I will talk about are following the same pattern
Articles about Immutable (IMX) and MultiversX (EGLD) you can found in my previous post where I wrote about Layer 2 in two parts
What Is Beam? (Beam)?
The $BEAM token serves as the native crypto asset for the Beam network, a gaming network empowered by the Merit Circle DAO. Beam is an ecosystem where gamers and developers come together to shape the future of the gaming industry. One of its core components is the Beam SDK, which is a flexible software development kit that enables game developers to choose between a variety of tools that can be used to fuel and structure their in-game blockchain elements
To interact with Beam, $BEAM is required. This is the native crypto asset used within the Beam network to pay for transactions. This not only includes transfers of assets but also involves all interactions with smart contracts on the Beam network, facilitating a seamless, immersive gaming experience
Besides functioning as a gas token that fuels the Beam network, $BEAM is the heart of the governance of the Merit Circle DAO. This decentralized autonomous organization (DAO) was brought to live in early 2021 to revolutionize the gaming industry. The $BEAM token allows its holders to participate in governance of this DAO
BEAM is a new token in the market it is backed by many big investors and becouse of potential I will buy it in this levels. This token is not on Binance and you can buy it in Bybit, Mexc, Gateio just to mention some
What is Gala Games?
Gala Games was created by industry-leading game developers who came together to bring value back to the players with the help of Web3 and blockchain tech. Its founders saw major problems with the way today’s leading game publishers demand that players continually spend to keep enjoying a game they love. Scrapping the old model, Gala is creating a huge platform with AAA-level games (many free to play) designed to give players more freedom, control, and rewards than ever
With dozens of Web3 games (including many well-known IPs) in various stages of development or already released, Gala Games is poised to become a Web3 gaming ecosystem large enough to compete with mainstream platforms
As you can see GALA corrected 99% since ATH that's why you have to pay yourself on the way up. In red are my exit points I will leave only small bag if it ever hits ATH again
What Is Axie Infinity (AXS)?
Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players.
Inspired by popular games like Pokémon and Tamagotchi, Axie Infinity allows players to collect, breed, raise, battle and trade token-based creatures known as Axies
These Axies can take various forms, and there are more than 500 different body parts available, including aquatic, beast, bird, bug, plant and reptile parts. Parts from each type class come in four different rarity scales: common, rare, ultra rare and legendary — and Axies can have any combination of body parts, making them highly variable and often rare and unique
Each Axie is a non-fungible token (NFT) with different attributes and strengths and can be entered into 3v3 battles, with the winning team earning more experience (exp) points that are used to level up an Axie's stats or evolve their body parts. These Axies can be bred together to produce new and unique offspring, which can be used or sold on the Axie marketplace
The Axie Infinity ecosystem also has its own unique governance token, known as Axie Infinity Shards (AXS). These are used to participate in key governance votes and will give holders a say in how funds in the Axie Community Treasury are spent
The same story goes for AXS it lost most of the gains since last bull run. I remember that most of Indian investors were leaving of playing this game in 2021. Similar to GALA I will start taking out my liquidity early
What Is The Sandbox (SAND)?
Launched in 2011 by Pixowl, The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox creates a decentralized platform for a thriving gaming community
According to the official whitepaper, the Sandbox platform’s main mission is to introduce blockchain technology in mainstream gaming successfully. The platform focuses on facilitating a creative “play-to-earn” model, which allows users to be both creators and gamers simultaneously. The Sandbox employs the powers of blockchain technology by introducing the SAND utility token, which facilitates transactions on the platform
The same goes to SAND there was hipe with this project even Snoop Dogg was playing this game. I am waiting for spring in Wychoff schematic and I think this correction will be deep.
What Is Decentraland (MANA)?
Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications
In this virtual world, users purchase plots of land that they can later navigate, build upon and monetize
Decentraland uses two tokens: MANA and LAND. MANA is an ERC-20 token that must be burned to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to pay for a range of avatars, wearables, names, and more on the Decentraland marketplace
Two types of tokens called MANA and LAND govern operations in Decentraland. They also allow users to interact with the platform
MANA is the official currency of Decentraland. It’s an ERC-20 standard token that powers the Decentraland platform. With MANA, users can purchase plots of LAND, as well as pay for in-game items and services
As for LAND, it’s a non-fungible token (NFT) based on Ethereum (ETH). It is used to track ownership of land parcels aka digital real estate. Like MANA, LAND is part of the protocol and confers voting rights, but LAND does not need to be fixed in the DAO. One LAND is equal to two thousand votes
I am still holding my bag of MANA since mid 2021when I bought it for 70 cents and pay myself too early. This time I will be out at 2.5 and invest my profits into other projects
What is Enjin Coin
Enjin Coin is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin's flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores
Enjin allows game developers to tokenize in-game items on the Ethereum blockchain. It uses Enjin Coin, an ERC-20 token, to back the digital assets issued using its platform, meaning that items can be bought, sold and traded with real-world value
Enjin Coin was first announced in July 2017, and it launched on the Ethereum mainnet in June 2018
If there will be no improvement on this coin I will sell all my bags of Enjin. It was good for technology in early 2020 but nowadays it starting to get old and other projects already starting with agregat the Enjin is supplying
What Is Illuvium (ILV)?
Illuvium is an open-world fantasy battle game built on the Ethereum blockchain. Often touted as the first AAA game on Ethereum, Illuvium looks to provide a source of entertainment to both casual gamers and hardcore DeFi fans through a range of collecting and trading features
The game is a fusion between an open-world exploration game and a PVP battle game. Players can spend their time exploring the expanses of the game world or building up their team of powerful beasts
I am not involved in this project at all. I noticed that big platforms were promoting this game and SBF was doing some pump and dump after. Please do you own research and make a decision. If it was for my investment I will buy it in green and sell it in red
This is a quick presentation of gaming coins as we saw most of them had a huge correction when the hipe was over and now are mimicking the Wychoff reaccumulation which one ( with spring or without ) we will see so be prepared
Hope you enjoyed reading learn something new and start preparing for next phase of correction
Trade safely enjoy life stay GOATED and Med love and respect #MANAUSTD #Galabullish #GamingAnalytics #bitcoinhalving $GALA $BEAMX $MANA
