Bitcoin Forum

Lately, there has been a surge of GameFi tokens gaining popularity in the cryptocurrency market. Does this signify the return of a bullish trend?

There has been a slight uptick but i would say it is still a bit soon. They tend to do really well when the trend is in full swing. So time to keep your eyes open for the newcomers ;)

Nope we are still far from bullish trends and we still have 6 months plus waiting time for that to happen,  Gamefi token may have increased in popularity lately,  but then also we have to know and take into account what the possibility for the success of the token class,  what awaits them in the market and how have those project in it class who have existed before have operated and succeeded in the market.

Much more than this also,  we have to avoid associating every trend with a mean bullish tendency,  because doing so could lead to wrong investment decisions, especially for newbies who may nohaverd any experience with such possible market trends and what are their resultant outcomes.

Bigtime, pixel berry, sharpnels, knights of catenna, amd some of those games, what else there a good game that has been on the upside? Im not sure if these are enough to activate the dead gamefi multiverse. Well its a good start but I dont think we are back that yet. These games Ive mentioned are on different chains and we cant have solidarity yet if the p2e games are totally back on track.

That could be a good sign but still far from a bullish trend.
It’s actually good that every project is recovering now and following the trend of Bitcoin. If you are a follower of Gamefi projects make sure you are dealing with the legit project and not just because of hype. There’s a lot of good projects right now that are doing good, let’s hope that this trend will continue.

What is GameFI again? ???

It’s a decentralized games where they have their own token that you can use on their platform, its like a play to earn games, to further know more about those projects better have your own research about it.
Anyway, some GameFi projects are really following the current trend but it’s too early to say that it is a bullish trend so better to wait for other confirmation if you are planning to invest or to take profit already.

Have you chosen from your favorite gamefi tokens? or have you been saving from a while ago? the altcoin market is still going its own way and I don't see any bullish trend yet, indeed the price swing makes me think so too, but the recent bull run indicates that altcoins are playing a role from several distributions including airdrops still running, allowing people to get gamefi tokens and can exchange them for any token including other favorite gamefi.

Right now what we need to pay attention to is how we allocate to add to the portfolio either daily or weekly, major tokens are already on the pump and we can add to the game fi token lineup if you have your favorite gamefi tokens before.

https://www.talkimg.com/images/2023/11/08/t72VG.png

And I think sales and rankings are good, and volume is also a strong turnover.
But if there is a new gamefi and you intend to buy, you can read this first before deciding (https://cointelegraph.com/news/scams-in-gamefi-how-to-identify-toxic-nft-gaming-projects), because DWYOR's new project. and possibilities can happen, not all projects go the same.

Hmm I see that most of them are up the last 7 days, some even going up as high as 25%. I'm not familiar with the current events of GameFi though so it might just be a bull because of some sort of event/update/change that the game themselves have made, or something changed within the ecosystem. I don't think we're at anything significant though, and most especially not a buy-in phase since you'd most likely lose out buying tokens after a small pump.

You can probably short them though if you want. I don't think it's a bullish trend though, at least not now anyway.

You must have heard of play2earn. Right? Where you can play games to earn rewards that could be converted to real money? If you have, play2earn uses the GameFI technology. With GameFI, players can earn by joining different game activities like tournaments, winning battles, completing some tasks, and even collecting some rare items (that can also be traded for an in-game item or sold). And all of this is done by smart contract so it is transparent and safe. You can simply say GameFI is the combination of gaming and finance.

You might want to zoom out. Here's a chart of most popular game token IMX. It's an layer 2 ecosystem build for Gods unchained because at the time it didn't make any sense doing small transactions in ETH, as fees costed more then most nfts. This tech was surpassed by many others, so imx was quickly outdated tech.

IMX

https://talkimg.com/images/2023/11/08/t7HFw.png

Here's their in-game reward token GODS

https://talkimg.com/images/2023/11/08/t7Sh9.png

Here's axie infinity, one of the most famous gamefi tokens

https://talkimg.com/images/2023/11/08/t7ZlN.png

Do they still look like they are recovering from here?

I won't call it a definite bull market for gamefi tokens now but the current uptrend is welcomed :). The main reason I'm not convinced is because there have been pumps across the board (across different industries) so it's definitely not a case of just GameFi tokens. I'm keeping an eye on tokens such as Sandbox and others to possibly scoup some before we have a full-fledged bull run in the coming months.

PS: if anyone has any more gamefi tokens on their radar or in their bags, please share.

https://www.talkimg.com/images/2023/11/09/t9dWH.png
There is a lot going on in this sector, but my observation is that there is still a lot of hype before it can really be seen as a stable sector of activity. Actually, I think this is always a potential field, when looking at MC around 11b is still a quite modest number, although these statistics do not represent it completely.

We still need more quality appearances, and as well as time for the harmony between the ideas from developers and users to adapt to it, the current model does not have too many products worth trying.

A few months ago, the GameFi sector was experiencing a bit of a downturn, so it's encouraging to see increased activity now. Even affiliated alts like MANA and SAND have been showing positive signs. Shrap made waves in the GameFi world yesterday when it made its debut on platforms like KuCoin, Bitget etc. The latter even introduced airdrops for users. I would say it's a promising start for GameFi in the months to come."

Yeah same here. We hope so, but it's looking good imo though. Are you a gamefi enthusiast? If yes, which are you looking at. I've got bigtime and shrapnel on my radar though.

Got almost 100% return from PYR and ILV. Prepare yourself, the train is almost coming and don't miss an opportunity to go to the moon. We are being even closer to the bitcoin halving. Plenties of Bitcoin ETFs are on the way. It would be so stupid if we are missing such an opportunity.

I was also speculating FTT and got around 1k FTT at the bottom price and it's giving more than almost 100% return in a day.

https://www.cnbc.com/2023/11/08/secs-gensler-says-rebooted-ftx-is-possible-if-done-within-the-law.html

Bitcoin was almost touching 37k. More big parties are starting to trust bitcoin. We are on the way to make a lot of money again.WOhoooO!!!!!!! FTX will be relaunched again with different leadership.

Usually we have seen the same narrative trend the second time in the alt season. Always few narratives came forwards and investors moved on to the next one. Last bull season gamefi was trending heavily and we have seen projects like axis infinity and few others show significant growth in price. So I don't think this time GameFI narratives will be trending at least not with the same business model they were using in the last season.Though I have seen there is lot of development going on in the GameFi sector but its growth potential in the altseason is average. We have other new narratives that the investors are focusing on like RWA, Web3 and AI.

Yes maybe for selected projects and games. Not all can do an enormous success when it comes to p2e since weve had an experience that make it worse in the past right? So better to pick a good gamefi wrll shrap is famous especially is a shooting game which is like the cod and other famous shooting games.

Yeah true. Makes me remember the movie "shooter" I'll be looking forward to when the PC game kick-starts. The token itself seems to be picking up.
https://i.ibb.co/kh90wCw/1699613337060.png (https://ibb.co/nDnfYJY)
photo upload sites (https://imgbb.com/)

Gamfi project can be an interesting on depending on the project team that is in charge of it. I so much like Gamfi project and we need to understand what we tend to benefits when we invest our funds on projects Iike that. There are Gamfi projects that has play to earn games we can always play and earn tokens we can with and swap to any other coin that we are interested in depending on the chain the project is built on. Since the network fee of BSC projects are less compare to erc20, I prefer flexibility so it can reduce how much I would be spend send coins to play project games.

There are too many projects in the space, whereas not everyone turned out to be solid, most are merely scammed projects that triggers to liquidate our accounts. You must have play or come acrossed crypto games online probably when one is engaging in online activities, generally referred to as play to earn games. GameFI have served important purposes in the blockchain, it comprises of elements from decentralized finance (DeFi) with links of online gaming more like the P2P blockchain technology games. It's quite easy to understand how the whole operation is been carried out.

Sorry bro, if you want your reply to be made into just 1 post instead of having to make a new reply with a 5 minute gap and no one replying after you made the first reply, it will save you time and be more pleasant to look at.

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Game fi is two aspects that are united between passion and finance, I agree that game fi is suitable for support because this generation is quite fast, almost everyone likes games, of course there are benefits and rewards will increase comfort because some people earn from games. the game will also receive good traffic and income from their offers when there is a purchase, and blockchain can also be affected by the density of transactions that occur on the game fi platform habitually, combining games with crypto is the right effort, and it is a good collaboration when talking from the point of contribution.

we all know these gamefi eventually gonna tanks, the economic model isn't sustaining, its just getting valued high when its still hype then after that it will tanks really low, the thing with gamefi, the token minted from playing game is too many where demand is getting lower and lower as the time goes, can't expect it to be sustaining for long term with such economic model, I think the devs also know it too well, thats why majority of the gamefi project have unfinished game, always in the phase of beta or something like that, overall the devs know not to get too invested into these coins otherwise they'd just outright wasting money.
unfinished game is something they purposely keep so that they can create some event to celebrate changing of developing phase, thats just overall how game fi is in my opinion, other might have differing judgement towards gamefi but i'm sure its just a cash grab.