Blockchain gaming is rapidly becoming a pivotal sector in the cryptocurrency world. Despite the growth seen in areas like Layer-1 blockchains, artificial intelligence, and meme coins, gaming tokens are still in the shadow with a market dominance of just 0.4%. Analyst VirtualBacon suggests that this undervaluation presents a unique investment opportunity as altcoin season approaches. The potential for gaming dominance to triple during the upcoming bull run is significant.
In a recent video analysis, VirtualBacon highlighted that while Layer-1 blockchains experienced a dominance increase from 5% to 9% and AI from 0.6% to 1.2%, the gaming sector has not kept pace. However, the market cap of gaming altcoins has surpassed $32.2 billion, indicating renewed interest in Web3 gaming and setting the stage for remarkable growth.
Top Gaming Tokens with 3X Surge
VirtualBacon has restructured his portfolio, making gaming tokens the largest allocation at 14%. Several projects are highlighted as poised for significant growth:
SuperVerse (SUPER)
SuperVerse has emerged as a standout performer, with its price surging from $0.20 to $2.20 since November 2023. It has consistently outperformed Bitcoin, forming higher lows on the BTC ratio chart. This uptrend is attributed to staking initiatives and the TON Station airdrop, which have fueled its rise. Moreover, the limited release of altcoin supply during the bear market has prevented market dilution and sell pressure.
BEAM
BEAM is gaining momentum against Bitcoin, thanks to major upgrades and strategic moves. The transition from a smaller network to a high-performance blockchain has positioned BEAM as a stronger contender in gaming technology. Its expansion into the UAE, a leading crypto hub, brings new opportunities and funding, boosting confidence in its growth against BTC.
Other Tokens
Innovative projects like Wild (WILD), SeedWorld (SWORLD), and Xborg (XBG) are pushing the boundaries of blockchain gaming by integrating immersive experiences with decentralized finance. Meanwhile, Play Network (PLAY) and Super Champs (CHAMP) focus on fresh narratives and dynamic gameplay, aiming to redefine the sector beyond the waning hype of play-to-earn models.
Legacy Tokens Face Challenges
VirtualBacon noted that older gaming tokens such as Sandbox, Decentraland, and Axie Infinity are struggling to regain their former momentum. The declining appeal of play-to-earn and metaverse narratives has left these projects behind, creating room for innovative players to lead the market.
Current Market Sentiment
The blockchain gaming narrative aligns with indicators signaling an altcoin season. The Altcoin Season Index has surpassed the critical 75% threshold, historically linked to broad market rallies. As Bitcoin surpasses $100,000 and altcoins outperform, gaming tokens could attract significant inflows. VirtualBacon views this as a sector with untapped potential, offering investors high rewards as new projects innovate beyond outdated models.
As the crypto world gears up for 2025 and altcoins gain momentum, VirtualBacon’s insights place blockchain gaming at the forefront of the bull market, making it a key area for investors to watch.
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FAQs
What is blockchain gaming and why is it gaining popularity?
Blockchain gaming combines gaming with decentralized technology, offering ownership of in-game assets and new revenue models.
Which gaming tokens are expected to rise in 2024?
SuperVerse (SUPER), BEAM, Wild (WILD), SeedWorld (SWORLD), and Xborg (XBG) are among the top tokens poised for growth.