Crypto tokens tied to video game projects and platforms have been experiencing significant gains in the past week, with some of them being the top performers among the top 100 cryptocurrencies by market cap. Tokens like Axie Infinity (AXS), ApeCoin (APE), and Iluvium (ILV) have seen considerable percentage gains, showcasing the growing interest in the intersection of gaming and blockchain technology.
Axie Infinity, in particular, has had a standout week, rising 12% over the last seven days. Currently priced at $6.88, AXS reached a nearly six-month high over the weekend, peaking at $7.55. This surge in price has contributed to a 35% increase over the past month for AXS. On the other hand, Smooth Love Potion (SLP), another Axie game token, experienced a slight decline of 9% over the past week but has still seen a 17% increase from 30 days ago.
Developer Sky Mavis has made several significant announcements in the past week that have contributed to Axie Infinity's recent rebound. One of these announcements includes the reintroduction of the original Axie Infinity monster battling experience, known as Axie Classic. Additionally, Sky Mavis released its first wave of official Axie merchandise, expanding the brand beyond the virtual space. Furthermore, the company has opened up commercialization rights for owners of rare Axie NFTs, allowing them to transform their creatures into tangible products and projects.
Axie Infinity's resurgence can also be attributed to the rising momentum around Ronin, its Ethereum sidechain network designed for blockchain gaming. The recent adoption of Ronin has been driven by the launch of the new game Pixels, which has attracted a significant number of users. As a result, the RON token, associated with Ronin, has seen a 27% increase in price over the past week, currently valued at $1.06. In the last 30 days, the RON token has more than doubled in price, showcasing the growing demand for blockchain gaming platforms.
Another notable performer in the gaming token space is ApeCoin (APE). This Ethereum token, tied to the Bored Ape Yacht Club NFT ecosystem and set to power the upcoming Otherside metaverse game, has risen by 7% over the past week. Currently priced at $1.63 per token, APE reached its highest price in over three months over the weekend, hitting $1.77.
Overall, the significant gains seen by crypto tokens tied to video game projects and platforms highlight the increasing interest and adoption of blockchain technology within the gaming industry. As more developers explore the potential of integrating cryptocurrencies and NFTs into their games, we can expect this trend to continue, potentially reshaping the future of gaming as we know it.
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