Can gaming token ‘passion’ turn around the cryptocurrency bull market? web3 gamer

Will we see a return to “enthusiasm” for gaming tokens in this bull market?

Bitcoin has hit all-time highs several times since Donald Trump was re-elected as President of the United States, and cryptocurrency analysts predict that the price of Bitcoin will soon reach $100,000.

With a massive bull market likely underway, what will happen to gaming tokens this time around?

Gaming industry insiders say that despite some disappointing token launches earlier this year, studios are starting to find a better balance between token launches and game development.

Quinn Kwon, head of strategy at Delabs Games, told Web3 Gamer that the Web3 adventure game Pixels “has done a great job of balancing and managing Web3 elements like tokens and NFTs.” Pixel’s native token, PIXEL, is up 32% over the past seven days at the time of publication, according to CoinMarketCap data.

“It provided a seamless onboarding flow, which is very important for Web3, and the genre fits well with the platform,” Kwon said, adding that he also enjoys playing the game.

Pixels is an adventure game where you can farm, explore, own land and flex NFTs within the community. It’s such a relief that popular Web3 content creator Cloudwhite recently decided to marry a partner in the Pixels ecosystem.

But picking winning cryptocurrency gaming tokens may be more difficult than it seems during this bull market.

Crypto analyst Ran Neuner, who spoke with Web3 content creator Sanjay on November 11, found it difficult to determine his top three gaming tokens because “none of them have really matured into anything significant yet.”

However, Neuner revealed that he is a “large holder” of Immutable’s IMX tokens and BEAM.

At the time of publication, IMX is up 20% over the past seven days, while BEAM is up 31% due to Trump’s victory and the broader rally in cryptocurrency markets.

Kwon said 2024 was off to a positive start with Web3 games moving in a promising direction, but “enthusiasm has waned after a series of disappointing token launches.”

“The key issue seems to be that many tokens are launched prematurely without a strong product base,” she explains.

“Despite the hype and compelling story, without a solid product with users, revenue, and a passionate audience, a token launch falls flat,” adds Kwon.

Kwon reiterates that this setback “offered valuable lessons for the Web3 gaming industry and reinforced the importance of product and utility priorities.”

If you can’t handle “14 hours a day” playing boring games, full-time gaming isn’t for you.

Sounds like fun to play games full time, right? But if you’re not much better than the average player and are prepared to work at least 70 hours a week, you might want to explore other opportunities in Web3 Games, say Web3 Games Investors.

“If you only play free games and try to extract as much as you can before moving on to the next game, it’s going to be a tough road,” Josep Rust explained in a November 11 X post. 53,400 followers.

Rust said that if you want a successful career in Web3 gaming and aren’t a “highly skilled player” or a “grinder who can handle 14 hours a day in a boring game,” full-time gaming may not be for you.

Aside from winning gaming tournaments, there are a variety of ways to make money in gaming, from earning in-game rewards for completing tasks to flipping NFTs, staking and monetizing, and investing in virtual real estate.

But don’t stress too much. Like the sports industry, there are many other ways to get involved without actually being a player, Rust suggested.

“Web3 games need investors, and creating content helps the project reach more users and educate people about the game,” he said. “Web3 game designers, lawyers, moderators, community managers or developers. ”

Sean Geng, co-founder of NPC Labs, suggests that the demand for good game designers in this field is only getting stronger.

“Why hire a PhD in economics to fix a broken economy? Hire great game designers and UX experts to make your game fun as hell,” Geng said in a November 8 X post.

“If the game itself was explosive, we wouldn’t need economists to drive a sustainable economy,” Geng added.

Hot Take: Chiliz Farm Tap

Chiliz Farm Tap, a mobile game where you can tap to make money, claims I’m “ready to become a real farmer,” which isn’t at all true for someone like me who spends my days typing away at a computer for work.

Still, I thought it was worth a try.

Honestly this didn’t teach me much about farming, but some of the minigames are definitely fun. But nothing groundbreaking. It’s not something you’d expect from a game where you tap to make money.

Tapping the screen to collect chili is the first activity you see, and will probably keep you entertained for a few seconds at most. However, if you like arcade games, the mini games in the Telegram app may hold your attention for a little longer.

There’s the Chili Shooter game where you knock hot air balloons out of the sky and the most frustrating Chili Flap game. Chili Flap requires you to tap Chili through obstacles, and as someone who plays tapper regularly, it took me 10 attempts to get 2 or more points. good luck…

Match 3 is basically like a Rubik’s Cube. That means matching the same chili to each other. Honestly, the other two games are much more addictive than this one.

If you enjoy a simple, pointless game that brings back some nostalgia while collecting coins that may or may not be valuable later, give Chiliz Farm Tap a try.

Other news

— Virtual NFT horse racing metaverse zkRace has integrated the Base network into the zkRace ecosystem. Players can use ZERC on Base for all in-game activities, such as races and tournaments, as well as purchasing, renting, and breeding horses.

— Immutable said it “will stand up and fight to protect gamers’ digital ownership rights” after receiving the Wells notice from the U.S. Securities and Exchange Commission.

— Mythical Games has entered the mobile gaming space by collaborating with Pudgy Penguins to launch Pudgy Party. Pudgy Party is scheduled to release on iOS and Android in 2025.

— Multiplayer battle arena game Moonray has announced a mobile game with the working title Moonray Autobattler, also scheduled for release in 2025.

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Ciaran Lyon

Ciaran Lyons is an Australian cryptocurrency journalist. He is also a stand-up comedian and radio and TV presenter for Triple J, SBS and The Project.