Despite a prolonged slump, the Web3 landscape is showing signs of resurgence. October witnessed a 32% surge in NFT sales, fueled by a substantial $1,136,658.03 (600 ETH) CryptoPunks transaction and an NFT-themed episode of The Simpsons.
In the broader crypto arena, Bitcoin ($BTC) is experiencing a notable surge, approaching the $38,000 mark, evoking memories of the bullish market for early investors.
However, the Web3 ecosystem extends beyond NFTs and established cryptocurrencies like $BTC. Gaming and Metaverse tokens are pivotal contributors to the ascending trajectory of the blockchain industry.
Illustrating the impact of GameFi coins, consider Illuvium. Following its move towards mainstream recognition on Epic Games, the blockchain game’s token ($ILV) witnessed a remarkable 79.5% increase in just seven days and a staggering 122.6% rise over the past 30 days, reaching a coin price of $90.43 and a 24-hour trading volume of $77,012,963.
Similarly, ImmutableX ($IMX) experienced significant growth in the past week, surging by 32.9%, propelled by its groundbreaking partnership with gaming giant Ubisoft. The token’s 24-hour trading volume now stands at an impressive $594,694,735, constituting over 50% of the coin’s market cap of $1,132,601,917.
In another instance, Star Atlas DAO’s token, $POLIS, observed a recent uptick, registering a 20.9% increase in just 24 hours. Its role as a governance gateway in a sci-fi Metaverse game on the Solana blockchain contributed to this rapid surge, signaling ongoing developments.
Gala Games’ native token, $GALA, is also noteworthy, experiencing a significant 25.5% rise in the past week. The launch of the playtest version of ‘The Walking Dead: Empires’ on the Gala ecosystem played a crucial role in boosting the token’s popularity.
Last but not least, The Sandbox, with a 24-hour trading volume of $137,275,405.38, is on an upward trajectory. Despite a slight dip of -4.8% in the past 24 hours, $SAND has grown by 5.3% in the past 7 days, with potential for further growth following its recent collaboration with Gucci.
These successes underscore the dynamism and diversity of blockchain gaming/Metaverse tokens, emphasizing their significant contributions to the ongoing revival of the Web3 realm. Their promising future extends beyond NFTs and renowned digital coins, encompassing broader purposes within the evolving digital landscape.