The global crypto market recorded a significant positive price action following speculations that the United State Securities and Exchange Commission will approve the first Ethereum exchange-traded funds (ETF) filings soon.
Amid the interesting market rally, crypto gaming coins have gained a cumulative market capitalization of almost $27billion. Partnerships are happening, the market is buzzing about the arrival of new crypto games, and investors are looking for the next big crypto.
Is this surge a sign of blockchain gaming's revival, or just another momentary pump that will disappear by the end of the year? This article analyzes the market to answer this question while informing you about the top crypto gaming coins that could rule this year.
The Real Reason Behind the Surge in Crypto Gaming Coins
Even though overly excited crypto enthusiasts are quick to credit blockchain games for the recent rise in interest, we can't ignore the impact of the real buzz around pending ETH ETF approval on the market.
As the speculation gained momentum, the broader crypto market surged by over 7%, pushing all the major cryptocurrencies to the forefront. And considering the gaming niche is the golden child for those looking for utility-focused cryptos, crypto gaming coins are moving up.
However, once the excitement diminishes - and it eventually will - tokens belonging to the gaming niche will only have their perks and roadmap to count on to stay relevant.
Here are the five tokens that encompass those features that will make the gaming crowd more receptive to their offerings
Sponge V2
Sponge V1 became one of the biggest meme coins of 2023. During the meme coin mania, investors huddled towards this crypto, partially because of the mania and partially because of the comedic appeal of SpongeBob SquarePants.
That allowed Sponge to be 100x within a short period. However, the lack of utility led to a corrective price action, dumping Sponge into obscurity.
Sponge V2 is a new version of the token. Moving Sponge's ecosystem towards a utility-focused direction, Sponge V2 comes with a stake-to-bridge and a P2E mechanic.
With stake-to-bridge, investors can stake their Sponge V1 tokens and get equivalent Sponge V2 assets. The project's gaming utility comes to the surface as a kart racing game, allowing users to win races and earn SPONGEV2 tokens as rewards.
To make blockchain games more appealing to traditional games, Sponge V2 is also developing an F2P mode to give gamers a taste of the graphics and gameplay.
Considering its unique qualities, popular YouTube channel Cryptonews is convinced that Sponge V2 will become one of the most significant cryptocurrencies in the gaming landscape.
Above all, Sponge V2 has performed well since its V1 to V2 bridge was completed. Its monthly returns have exceeded 200%, and investors are now anticipating the arrival of its game.
eTukTuk
eTukTuk is a green blockchain project aiming to make electric TukTuks the norm to make public transportation greener. The project seeks to partner with charging stations worldwide to provide incentives for those with electric vehicles.
It has a driver app that will help eTukTuk drivers earn TUK tokens for staking, and with the passenger app, commuters will have access to rewards.
However, the project's standout feature is its newly launched mobile game, Crazy Tuk Tuk Taxi. Available on App Store and Play Store, the P2E game features multiple cars and locations, allowing winners and quest completionists to rake in the gains in terms of TUK tokens.
A key attraction for Crazy Tuk Tuk Taxi is its unique combination of driving, parking, and simulator games, making it possible for players to step into the shoes of a real driver.
As of the time of writing, this action-packed game has recorded more than 3k downloads on PlayStore, showcasing its growing popularity among gaming enthusiasts.
Recognizing the significance of this game and the real buzz surrounding eTukTuk’s ongoing presale, renowned YouTuber, Michael Wrubel says the project has all the qualities that could position it as the next 100x crypto.
Currently available as a presale, eTukTuk has already raised close to $3.4 million. Those interested in becoming green participants of this green crypto project can visit etuktuk.io.
5th Scape
5th Scape is one of the best crypto game coins to buy in 2024, as the project focuses on building the first Augmented Reality and Virtual Reality ecosystem. The platform allows users to explore VR games, movies and education.
Similarly, 5th Scape, leveraging advanced technologies, is designing gaming gadgets that will allow gamers to enjoy accurate motion tracking and high-resolution gameplay. Staying true to its promise of delivering extraordinary thrills and exciting gameplay, 5th Scape has released its much-anticipated virtual reality game, MMA Cage Conquest on the Meta Store.
The game allows MMA enthusiasts to engage in immersive virtual combat of mixed martial artists with popular UFC fighters in the ring. Cage Conquest also comes with strategic training, aiding players to prepare for their matches.
Renowned YouTube channel, Cryptonews says the hype and popularity of the game, alongside the fast-growing community of 5th Scape has enhanced the investment appeal of 5SCAPE the VR crypto of the project.
Presently in its presale round, 5SCAPE has recorded more than $6.1 million in early fundraising, underscoring investors’ optimism in its future prospects.
Yield Guild Games
Yield Guild Games is a DeFi-Game hybrid that has captured the community's attention during the current bull run. Having experienced a surge of more than 19% in the past seven days, It has the right fundamentals to go big in 2024.
Yield Guild Games is a collective of blockchain gamers that have penetrated most games inside the blockchain niche, providing a robust ecosystem for games such as Axie Infinity, League of Kingdoms, Illuvium, My Pet Hooligan, and more.
So far, the guild has more than 3000 achievements, 241 partnerships, and 9 guild regions. Adding more value to this project is the attention it has acquired from venture capitalists such as BitKraft, BitScale Capital, Green Field, Kingsway Capital, and more.
ImmutableX
Another project enticing investors through its future-forward appeal is ImmutableX. By offering end-to-end Web3 solutions with speed and scale to match, ImmutableX has consolidated itself as the biggest gaming crypto by market capitalization.
Unlike most crypto gaming coins, Immutable X's performance on the price charts has been modest, with its month-end increase just above 6.6%.
However, underneath a modest aesthetic are a slew of developments pushing blockchain gaming to the forefront. Earlier this year, the ImmediateX zero-knowledge Ethereum Virtual Machine mainnet went live, giving developers early access to its features.
Immutable zkEVM Mainnet Early Access is live!The future of gaming is here with the launch of Immutable zkEVM Mainnet, powered by @0xPolygon.Immutable zkEVM is an ecosystem that empowers games to thrive. It offers massive scalability, smart contract compatibility, and gas-free… pic.twitter.com/zSrUOwnsQo
— Immutable (@Immutable) January 29, 2024
With the announcement game came an onslaught of positive engagement and airdrops. Those who participated in the mainnet got to check out some of the games that went live and have reviewed them positively.
Gala Games
Gala Games has jumped up by about 9% in the last one week, even though the price action around this project continues to be volatile.
With games like Spider Tanks, Common Ground, Dragon Strike, and Eternal Paradox, Gala Games is a blockchain ecosystem with one of the richest selection of games in the market. With most games being free-to-play, even web2 players can check them out.
Gala Games' NFT store, offering unique characters and assets for use in these games, complements this collection of games.
Furthermore, the project is constantly adding new features and has recently partnered with Alienware and Amazon Web Services for a hackathon.
These partnerships and Gala's willingness to open its ecosystem expose it to a wider market. That can allow it to gain more customers, giving it a chance to rule 2024 as a leading gaming crypto.
Crypto Gaming is Likely Back
The recent surge in the crypto gaming tokens’ market capitalization does indicate that the market is back. However, a long-term analysis of these projects must be done to give a fair answer.
In the meantime, Sponge V2 has shown that it has multiple upsides and eTukTuk’s appeal as a green crypto is also getting traction.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
