Crypto tokens tied to outstanding blockchain video games—and the networks that assist them—are broadly surging amid the Bitcoin and Ethereum increase, with plenty of tokens launched inside the final 12 months rising to new all-time excessive costs over the previous day.
The tokens tied to gaming networks Xai (XAI) and Beam (BEAM) are amongst people who reached new peak costs, in line with information from CoinGecko, together with the tokens of crypto video games Heroes of Mavia (MAVIA) and Parallel (PRIME).
XAI, the token from the Arbitrum-based layer-3 gaming community of the identical title, spiked to a brand new peak value of $1.39 in a single day earlier than settling barely to $1.30 as of this writing. On the present value, XAI has a market cap of $359 million, and the token has jumped into the highest 200 cryptocurrencies by market cap. It’s up 13% over the previous 24 hours and 19% on the week.
The token simply launched in January as Xai rolled out a large airdrop to operators of Sentry Nodes, which assist the community, in addition to homeowners of sure NFTs tied to the gaming community. The whole worth of that 125 million XAI airdrop now sits above $162 million.
BEAM, the token of the Beam gaming community constructed on an Avalanche subnet, is up 10% at present to a present value of simply above $0.035. It’s down solely barely from an all-time excessive of practically $0.036 on Monday morning.
Beam is operated by Advantage Circle, a gaming DAO (decentralized autonomous group), and has additionally built-in with Immutable zkEVM, an Ethereum scaling community for video games. With a market cap of practically $1.8 billion, BEAM is the 53rd largest cryptocurrency total by market cap and the second-largest gaming-centric token behind Immutable (IMX).
PRIME, the token of crypto buying and selling card sport Parallel, additionally set an all-time excessive value of $14.84 late Sunday, although it has dipped practically 7% since to a present value simply above $13. Parallel, GG’s 2023 sport of the 12 months, just lately launched a new season of in-game content material and has been teasing an open beta launch within the close to future. It’s at present in closed beta.
And MAVIA, the newly launched token of cellular technique sport Heroes of Mavia, pumped Sunday to a brand new all-time excessive value of $10.59. It has marked a sharper decline since surging to that peak, nonetheless, now down about 14% on the day to about $8.50 as of this writing.
MAVIA debuted lower than three weeks in the past and has spiked 370% since its preliminary launch. The Conflict of Clans-style crypto sport rolled out an in depth roadmap over the weekend, exhibiting off plans for extra NFT staking rewards, an upcoming announcement of a layer-2 scaling community to energy the sport’s crypto components, and different bonuses and options forward.
Mavia’s February Neighborhood Replace:
Tokenomics, Sport Stats, Roadmap and extra!https://t.co/6OipmDj4Ta
— Heroes of Mavia (@MaviaGame) February 17, 2024
Heroes of Mavia was launched on iOS and Android in January and airdropped tokens to 100,000 gamers and NFT landholders. Developer Skrice Studios now says that it has logged over 2 million downloads for the sport, with 278,000 day by day lively customers.
All 4 of those tokens initially launched inside the final 12 months, together with two of them up to now in 2024. That’s an vital element as among the different largest gaming-centric crypto tokens are longer-running cash that set a lot greater peaks in the course of the bull market runs of 2021 and 2022.
For instance, cash like IMX, The Sandbox (SAND), ApeCoin (APE), and Gala Video games (GALA) stay properly wanting their all-time excessive costs—and all of these besides Immutable are down greater than 90% from such peaks. Immutable has risen 74% over the previous 30 days, but it’s nonetheless down 65% from its all-time excessive value of $9.52 set in 2021.
The previous day’s gaming token spikes got here amid the launch of PIXEL, the long-awaited token of buzzy crypto farming sport Pixels on the Ronin Community. PIXEL has pumped 24% for the reason that Monday morning debut to a present value above $0.62, placing its market cap at $821 million.
Edited by Ryan Ozawa.