Blockchain gaming is poised to witness the achievement of at least one title surpassing 1 million+ daily active users, showcasing the anticipated potential in the industry. Among the contenders for this milestone, IMX stands out as a likely candidate to ascend to a top 25 coin by market cap (currently positioned at #42).
This ascent is expected to be fueled by the launch of high-profile games like Illuvium and Guild of Guardians in 2024, featuring a well-crafted token system that aligns interests more effectively than many others.
According to a recent DappRadar report, the WAX blockchain currently leads the gaming sector with 406,000 daily unique active wallets, with approximately 100,000 engaged in Alien Worlds, a metaverse offering multiple simple games that reward players with the Trillium token.
However, it is acknowledged that a substantial portion of these players may be bots engaged in token farming due to the simplistic nature of the games. In contrast, Immutable, currently at #42 in market cap, has multiple AAA games under development, including Illuvium and Guild of Guardians, with intricate token models designed to prevent easy exploitation.

These well-funded titles, set for release in 2024, have the potential to attract player bases comparable to traditional AAA games like Starfield, which garnered 10 million players within its first two weeks earlier this year.
Immutable is also addressing critical technical challenges that have hindered the success of Web3 gaming, notably in wallet management. Their solution, "Passport," enables users to log in to games and manage their blockchain-based game items seamlessly through a familiar single sign-on process, abstracting away the complexities of blockchain interaction.
The streamlined experience offered by Immutable, coupled with strategic partnerships with major distribution channels like the Epic Games Store and GameStop, could position a blockchain-based game to finally achieve mainstream success.
#Web3GamingFuture #MetaverseGrowth #GamingMetaverse

The U.S. economy is anticipated to enter a recession in the initial half of the year, driven by a prolonged slowdown in economic momentum and a cooling inflationary environment, rendering the economy more susceptible to shocks. Leading indicators in the U.S. have entered a recessionary phase after 19 consecutive months of declines, nearing a record low.
Various late-cycle dynamics, such as struggling retailer shares, weak commodities, softened employment, elevated corporate bankruptcy filings, and an inverted yet steepening yield curve, contribute to the economic concerns. Media references to a "soft landing" have surged, a precursor to official recession declarations. $BTC faced its only U.S. recession from January to April 2020, plummeting 60% before rebounding post-Fed liquidity injection.
Similarly, gold tends to decline early in recessions, although its recent upturn underscores demand for non-cancelable hard money, a trait shared with Bitcoin. Given sovereign debt concerns, an expectation exists for over $2.4 billion to flow into newly approved U.S. spot Bitcoin ETFs in Q1 2024, maintaining Bitcoin's elevated price. Despite potential volatility, the Bitcoin price is forecasted to remain above $30,000 in Q1 2024.
In approximating Bitcoin ETF inflows, historical ratios from the SPDR Gold Shares (GLD) ETF are examined and adjusted to 2023 dollars. The GLD ETF, launched in 2004, experienced initial inflows of $1 billion in its early days and reached $2.26 billion by Q1 2005, equivalent to 0.1% of the global gold supply. Applying these proportions to the Bitcoin spot market suggests initial inflows of $310 million in the first days of a BTC spot ETF and approximately $750 million within a quarter.
Acknowledging the different financial landscape in 2023 compared to the "Dead Ball" era, where interest rates were higher and money supply lower, a logical adjustment is made based on the M2 supply. The ratio of M2 supply from November 2004 to October 2023 (3.23x) is applied, leading to an estimated $1 billion in the early days of a spot Bitcoin ETF and $2.4 billion within a quarter.
Extrapolating further to a mature state of the BTC ETF, around 1.7% of the total spot market for BTC is envisioned, amounting to $12.5 billion. Considering Bitcoin's assumed market share gains from gold and increased awareness of debt-driven money printing in 2024, a medium-term estimate projects $40.4 billion in inflows over the first two years of trading.
Finally, it is noted that Coinbase charges retail traders a 2.5% transaction fee, contrasting with an anticipated ~10 basis points spread for spot Bitcoin ETFs, potentially catalyzing higher adoption due to a 10x cost reduction in comparison to traditional fees.
#BTC!💰 #2024Predictions #ETFApproval2024