After its long-year boom from 2017 to 2021, crypto games experienced a snag with more than 2000 projects going down the drain based on data from CoinGecko. Even the established gaming tokens were not left out in the decline leading to investors counting their losses.
However, things are beginning to change. The game market is coming back to reckoning. Kick-started by the boom of Bitcoin to a new all-time high record, P2E games have found their feet again, becoming one of the most improved crypto niches in the market. Although analysts are cautious in pronouncing that the gaming market is fully back, the present momentum is a call for optimism.
Here, we've detailed the list of the top gaming tokens that are currently trending now and ready to explode in 2024.
Why is the Crypto Gaming Market Dominating the Bullish Sentiments?
Blockchain games are booming and analysts have attributed the recent boom to the following.
● The Rise of Bitcoin
As with many other cryptocurrencies, the rise of Bitcoin usually affects other altcoins. In the last few weeks, Bitcoin has surged to a new all-time high record of $73k. Following the uptrend, Ethereum also crossed the $4k threshold briefly before receding to below $3500. With other altcoins following the trend, it is not surprising that crypto gaming tokens have joined the fray.
● Collaboration
A key part of the cryptocurrency game market boom is its partnership with generational tech leaders. For example, X World Game partnered with Las Meta, an innovative leader in the metaverse industry to bolster gaming experience through the use of AI and NFTs. Gaming industry leader Unity Games also secured a collaboration with crypto giant Polkadot to integrate the platform game engine across its ecosystem. With these partnerships, the game market is getting more appeal from the crypto market.
● Meme-Based Gaming
An innovation has pumped out of the crypto gaming market which has resonated with users across the world. As a meme coin, platforms now blend play-to-earn gaming into its ecosystem. A notable industry leader exploring this option is KangaMoon. By integrating meme coin and play-to-earn gaming, the platform creates a community of meme enthusiasts where intense gaming competitions thrive.
Top Gaming Tokens Ready to Explode in 2024
Having established the resurgence of the gaming market, below is the list of top crypto gameswarming up for a massive surge in the year.
KangaMoon (KANG)
The meme coin frenzy has elicited the birth of KangaMoon. The project has become popular with its uniquely crafted idea of a P2E gaming model with elements of social interaction. Thus, it develops an ecosystem where players, spectators, and onlookers cohabitate. Having started earlier this year, KangaMoon received a huge boost from investors, raising over $4M in presales while targeting $5M by the end of month and 9M by end of the presale.
Built on the Ethereum network, KangaMoon's price has jumped from $0.005 in stage 1 to $0.0196 in the fifth stage of presale. That is over 291% returns for early buyers. Aside from players and spectators who benefit immensely from KangaMoon, holders can also earn free KANG tokens. By commenting on posts and sharing tweets aimed at promoting the project on social media, holders can expect a significant boost to their portfolio. With the platform set to launch in the 2nd quarter of 2024, KangaMoon is one of the top crypto gaming tokens with the potential to reach $1 in the year.
Ronin (RON)
Apart from Axie Infinity, Ronin is another blockchain game developed by Sky Mavis. Specifically made for game developers, Ronin makes game development easier than before and enables millions of in-game transactions to be carried out seamlessly. Since its launch in 2021, Ronin has recorded more than 2 million downloads with the total value locked (TVL) exceeding $5 billion.
While many cryptocurrencies are still battling market correction, data from CoinMarketCapshows that Ronin is up by 40% on the monthly price chart. The token has a healthy $1.2B market cap and is currently trading at above $4. As crypto gaming continues to recover, Ronin may explode into a new high soon.
Flow (FLOW)
Flow was created by the same developers of CryptoKitties and came into existence in 2020. It is an open and decentralized platform designed for the next generation of digital assets, including non-fungible tokens, games and applications. Its native currency, FLOW, is used by the developer, validators and users to participate in the network and secure the network through staking.
Since the resurgence of the gaming market, Flow has received a boost, moving up by 40% in the past 30 days. In a similar manner, Flow has a healthy increase of 12% on the weekly price chart which further shows the bullish momentum of the token. With the token market cap above the $2.1B mark, Flow could be ready to explode in the coming months.
Sandbox (SAND)
Sandbox is one of the oldest tokens on our list of best gaming tokens ready to explode in 2024. The platform is a blockchain-based virtual world where users can develop, build, and transact digital assets. It combines the features of decentralization autonomous organization (DAO) and non-fungible tokens (NFT) to create a decentralized platform for gamers.
In the past month, Sandbox followed the gaming trends, moving from $0.48 to $0.69. Also, Sandbox has a market cap that exceeds $5B and has moved up by 17% in the past 7 days. While Sandbox may have been around for a while, its utility-based gaming stands out as one of the best gaming tokens. With the next bull run expected to be a hit, Sandbox may rise to $1 before the end of next month.
Immutable (IMX)
The last on our list of best crypto games is the popular Immutable token. Designed to make Web3 gaming less expensive, Immutable comes up as an Ethereum scaling solution with a lower gas fee for gamers. When Ethereum appears out of reach, Immutable comes up as a cheaper option for gaming enthusiasts.
Immutable experienced a dip in the past month but has quickly corrected it on the weekly chart after pumping by 14%. With the market back in favor of gaming tokens, Immutable may be set for a surge to $5 in the coming months.
Final Thought
In this article, we document the list of the best game tokens ready to deliver amazing profit for investors in the bull run. While data is backing all these predictions, investors should not underestimate the power of DYOR. By considering every key index, investors will make informed decisions that can result in massive portfolio success.
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