The cryptocurrency market continues with GameFi, a trend that financializes video games. This is mainly characterized by the play-to-win (P2E) business model. Players not only played games but were also rewarded with tokens. So which game coins are popular lately?
Here are the most crowded games and coins
Cryptocurrency data provider CryptoDiffer shared what has been happening in the gaming market in recent months in a new tweet. The list includes popular games you’ve probably heard of before, from Alien World to Axie. By the way, despite the hard work of the team, Star Atlas has not yet shown itself. Although the new cinematics show that we will be navigating a superior metaverse, the game is far from being realized for now.
According to the data provided by CryptoDiffer, the list of the most crowded games since last month is as follows. This list has been compiled based on the number of active players. In other words, these games are mostly preferred in the P2E game category.
- gameta
- Alien World
- Benji Bananas
- Solitaire Blitz
- splinterland
- Axie Infinity
- Trickshot Blitz
- Upland
- Farmer World
- Arc8
- Era7: Game of Truth
- Trinity World
- Sunflower Land
- MOBOX
- X World Games
https://twitter.com/CryptoDiffer/status/1578028197345517568
Speaking of game coins, it should be noted that there is a cryptocurrency that corresponds to almost all Blockchain-based games. For example, AXS and TLM were among the top-paying tokens at one point last year. However, it should be noted that this acceleration has cooled down. Like the entire market, gaming coins are struggling to gather volume.
Axie Infinity’s revenue continues to decline
Blockchain-based game Axie Infinity only brought in $988,400 last week. It has grossed less than $1 million in its first week of P2E gaming since February 2021.
The darling of the P2E world, Axie experienced a phenomenal rise in popularity in the summer and early fall of 2021. At its peak, the game accrued over $215 million the week of August 8, 2021. In October of that year, Sky Mavis, the company behind Axie, even reached a valuation of $3 billion after a $152 million funding round led by a16z. However, as we quoted as Kriptokoin.com, Axie Infinity has experienced a steady decline since November 2021. Sky Mavis was unable to sustain its rapid growth due to an imbalance issue and burn mechanism for Axie’s in-game tokens.
The vast majority of Axie’s in-game cryptos were issued without adequate means of SLP, destroying or burning the token. This leads to inflation, which causes the token to depreciate and encourages players to continue using the game. Sky Mavis has tried to put more burning mechanics into the game, but it doesn’t seem to have the desired effects.
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