The Web3 gaming industry started 2024 strong, experiencing some of the bullish energy of the broader market. However, this wasn’t to last as investor interest turned to other industries. Meme coins earned the lion’s share of the bull run, followed by AI and Real-World Assets.
This has led to some speculation about the future of the web3 gaming ecosystem, but recent developments have put this question to rest. Over the past 24 hours, we’ve seen a noticeable increase in trading volume within gaming tokens as several top coins pump, including Immutable X, Gala, and Saga.
We’ve also seen a renewed interest in new gaming tokens and crypto casinos. The newly launched Mega Dice presale has shown signs of replicating the success of last year’s popular presales, TG.Casino and Rollbit, which gained investors 4x returns.
Immutable X and Polygon Gaming Fund Injects Positivity Into the Web3 Gaming Community
Immutable X (IMX) has seen an uptick over the past 24 hours with the price rising almost 10% to push past the $2 mark again. The Layer-2 scaling solution started 2024 bullish but struggled to maintain this and has dropped 25% since last month. Over the past day, we’ve seen this change as the token price pushed past its support level of $1.7, with increased trading volume and investor interest.
This boost comes hot on the heels of the Immutable X and Polygon announcement of a new $100 million “Inevitable Games Fund” to identify and support best-in-class gaming investment opportunities.
This fund is spearheaded by the two founders of Immutable X, James and Robbie Ferguson (Gods Unchained, Guild of Guardians), and Polygon’s co-founder, Sandeep Nailwal. Alongside the announcement of several other gaming funds, including a $120 million gaming fund from Starknet, this news has injected positive sentiment into the wider Web3 gaming industry.
Beam Becomes Second-Largest Gaming Token by Market Cap
Beam ($BEAM) may be a newcomer to the gaming industry, but the company has quickly established itself as a force to be reckoned with. The token was only launched in October 2023, when the crypto bull run had yet to fully take off. Since then, it’s risen rapidly up the ranks to become the second-largest gaming token by market capitalization.
The token is up 560% from its launch and has seen a 12% jump in the past day, reaching $0.02818. The project has had a meteoric rise since its launch and already boasts an impressive range of games, including Trial Xtreme, Castle of Blackwater, and Megaweapon.
The gaming company supports web3 gaming initiatives and has a focus on interoperability. It has announced several partnerships with major web3 gaming companies, including Immutable X, helping reignite excitement in the industry.
Gala Rebound Continues as Ecosystem Expands
Gala ($GALA) has continued its rise with another 8% rise overnight. The play-to-earn game has shown strong signs of a major reversal in the past few days.
The token is a utility token that underpins the Gala gaming ecosystem which has several play-to-earn games, including Town Star, a simple but engaging farming simulation game. The team behind the project boasts a significant resume with founders Eric Schiermeyer (Zynga), Wright Thurston (one of the first crypto miners), and Michael McCarthy (Farmville 2).
The project offers a Web3 alternative to Steam Games and has recently expanded the Gala ecosystem to Gala Music — a Web2 alternative to music streaming platforms like Spotify, which rewards fans and artists for streams — and Gala Films — a web3 movie platform where fans can own “Moments,” NFTs from their favorite titles.
Mega Dice Token Presale Powering Full Steam Ahead
Online gambling is one of the fastest-growing gaming industries, with revenue expected to reach $100.90 billion in 2024. At the forefront of this trend is the growth of crypto casinos, which has seen an explosion in users. Popular Telegram casino TG.Casino saw huge growth after its presale last year, with investors seeing 4x returns.
Now, there’s a new presale garnering attention: Mega Dice Token. This token is the native token of Mega Dice Casino, a well-established crypto casino with 50,000 players. The token offers its holders exclusive access to benefits and rewards in the Mega Dice Casino.
One of the new token’s most exciting aspects is the daily payouts. Holders who stake their tokens will receive daily rewards based on the casino’s performance. With over $60 million wagered monthly, this could translate into huge returns for those who participate in this presale.
The presale was launched only a few days ago but has already raised over £350,000. It’s currently priced at $0.069, but this could rise significantly after launch. The project has also announced three huge airdrops of $750,000 each, causing even more hype to build around the presale.
Saga Hype Builds With Airdrop and Mainnet Launch
Buzz around the gaming-focused layer-1 blockchain Saga continues to build after the mainnet was launched on April 9th.
The project recently set records with $13 billion staked on Binance by investors wanting to earn $SAGA token rewards in an airdrop ahead of the launch. This record-breaking achievement made Saga the largest Launchpool in Binance history.
The protocol already has 350 projects building in the ecosystem, and over 80% of these are focused on web3 games.
The token is one of the biggest movers of the past 24 hours and is up 24%. The platform has also announced a “Play-to-Airdrop” campaign to help get users into the ecosystem and encourage them to play newly launched games.
The Start of a New Web3 Game Bull Run?
Overall, sentiment is starting to look bullish on web3 games again with huge VC interest, new game development funds, and presales like Mega Dice Token starting to gather attention. This could be a sign of investors moving away from more speculative meme coins into projects with long term sustainability and growth potential.
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