GameFi is one of the hot industry verticals in the cryptocurrency space today. The term encompasses play-to-earn mechanics and NFTs found in blockchain games. Several ecosystems are home to various GameFi solutions, and Avalanche builds strong momentum.
GameFi Is Taking Over
There has never been more interest in exploring play-to-earn gaming than today. The industry is firing on all cylinders with hundreds of games creating their virtual worlds to provide top-tier entertainment. Numerous blockchains facilitate the building of such games, including Ethereum, BNB Chain, Polygon, etc. However, one network to pay attention to is Avalanche.
GameFi is so popular because it rewards players with NFTs and currencies for playing games. Building such a fast-paced ecosystem requires a scalable network with low fees and high throughput. Avalanche has solidified its position in that space and notes strong momentum in GameFi and DeFi. The network represents $4.93 billion in Total Value Locked today.
Although the Crabada GameFi project has been around for a while, it received a recent update. Two weeks ago, the team launched their Battle Game for Windows, iOS, and Android. Players can immerse themselves in rediscovering an ancient hermit crab kingdom with decentralized play-and-earn mechanics. Activities include mining, looting, breeding, and now battling to earn CRA tokens. The Crabada project represents a market cap of $7.8 million.
The Ascenders ecosystem revolves around sci-fi fantasy and an open world with RPG elements. Players can explore, fight, and build their way through the game to progress through the game world and complete quests, explore new areas, and collect rewards. There are also daily events with additional rewards. The story-driven ARPG campaign features a player-driven crypto economy, and rewards consist of AGC and GG tokens.
Although this GameFi venture is still in the pre-alpha stage, there is much excitement regarding Imperium Empires. The team aims to build the world’s first AAA GameFi 2.0 Space Metaverse with staking features, guilds, team combat, guild wars, DeFi gamification, etc. The native token, $IME, has a market cap of roughly $2.4 million.
The final GameFi offering on Avalanche to take a look at is Heroes Chained. It is a fantasy-action RPG where players become guild masters and gather heroes to fight for them. Players can build, battle, explore, and engage in play-and-earn mechanics throughout their journey in this virtual world. The game’s native token, $HEC, has an unknown market cap and a fully diluted valuation of $27.5 million.
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