Web3 Gaming Tokens Value Tripled in January
Delphi Digital's recent findings showed a significant increase in demand for gaming tokens after they made their debut in the latter half of 2022. In the first few weeks of 2023, the value of these tokens skyrocketed, with some seeing triple-digit growth and others reaching all-time highs.
The rise in demand for these tokens is attributed to the emergence of Web3, a new wave of digital services that promote decentralization and transparency in various activities. This new development allows users to access digital services without relying on centralized entities or actors.
Farcana's CEO and founder, Ilman Shazhaev, believes that GameFi has added significant value to blockchain transactions. However, after a major dump of GameFi tokens in 2022, the industry started to change. Others in the field believe that the primary goal for these assets is to allow for seamless cross-platform transactions.
Many players want the ability to trade rare and valuable virtual assets across different games and platforms, creating a thriving virtual economy where players can exchange items for real-world money.
Sources:
https://coinedition.com/web3-gaming-tokens-value-tripled-in-january-others-hit-their-ath/
https://watcher.guru/news/top-3-gaming-cryptocurrencies-that-doubled-in-value-in-2023