It's in the game! 🎮
Pixels, the popular blockchain game on Ronin, has officially launched its similarly named utility and governance token, PIXEL.
Suffice it to say, the community is ecstatic, with many receiving decently sized allocations of 5-6 figures of PIXEL tokens simply by participating in their play-to-airdrop campaigns.
According to our data, PIXEL has generated close to $1.2B in trading volume, making it the 11th most traded cryptocurrency today.
However, that's not the only GameFi token that's doing well, as the sector has returned to the spotlight once more, with new titles seeing greater success in their initial launches.
MAVIA, the recently released governance token from Heroes of Mavia, has surged by 171% from an initial price of $3.10 to $8.41 today.
More recent GameFi projects, which have seen steady progress in their development, are also recapturing attention again, with titles such as Parallel seeing rapid price appreciation of their native token, PRIME, and NFT cards and Avatars.
Beyond conventional blockchain games, crypto natives are also looking towards the various infrastructure projects that are aiming to capture a slice of the next generation of Web3 games.
The public launch of Tarochi, an RPG built on top of the newly released Xai Layer-3 network, has contributed to a 31.9% price increase in the price of the network's token, XAI, from $0.98 to $1.29.
Editor's Take:
During the 2021 GameFi Wave, projects raised heavy investments on the promise of delivering AAA-quality blockchain games with modern gameplay and sustainable tokenomics. Fast forward to 2024, and we are just beginning to see results, though some have been underwhelming. However, it's reassuring to see that the crypto space is open to giving the GameFi space another chance, but there's still a long way to go before they can make good on their promise.
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