Illuvium (ILV) price increase after news with Gamestop

[bluebit25]

Notification, 3D RPG game using Unreal Engine 5 technology and operating on the Immutable X (IMX) blockchain network, recently announced that it will launch Beta version 3 on Epic Games Store on Nov 28 2023. This version will offer three different genres and three different game modes, including open world exploration, automated strategic combat, and city building support on mobile and desktop in the Illuvium.

Link: https://twitter.com/illuviumio/status/1722235730695799152

The Epic Games Store version does not require the use of a Web3 wallet and does not require players to own NFTs, to reduce barriers for traditional players and expand the user base. In this announcement, ILV token pumped more than 15% before correcting


P/s:
- What are your thoughts on this information?
- IMO, the Gamefi hype is slowly spreading now, and many people are starting to FOMO with this trend. Although the potential is undeniable, we need quality projects and enough longterm development capacity if we want this field to develop stronger.

[shinratensei_]

Basically, this is a normal news for me. Im not seeing this as a good progress. The reason why people on Reddit have been valuing Steam more than Epic Games is mainly because gamers perceive Epic Games as a platform filled with low-quality games and non-fungible tokens (NFTs) from the crypto world. They were judging it caused by mostly of crypto games are grap. It doesn't even matter which engine used by the crypto developers but in fact it's crap and pure speculation only on the price of token.

https://www.reddit.com/r/pcgaming/comments/178z88e/the_epic_games_store_is_a_landfill_for_crypto/

That announcement is not something special for gamers who have been similar to the epic games. Mostly of people are prefer using steam instead of epicgames. It may a bit better if illuvium will able to be listed on steam instead of epicgames.
 

My 2 cents.

[ryzaadit]

We all know (GameFI) things is only the word being used for (Marketing).

All these (GameFi) still have a problem, which is the tools are gonna to be use for playing the game. It's pretty high, for like common game and like we know from every cycle each year we have the things being used for marketing.

NFTs, GameFi, Metaverse and other.

[JeffBrad12]

good for ILV to have increase in value, but for GameFi trend themselves, it'd be great if these games actually released a finished game before trying to publish their game into the public, i've tried so many blockchain game many of them have the same problem, the devs left the game unfinished so that they can make repeated events about the release of their game for money grabbing.
also if they could stop developing card based game as well as reskinning some failing games it would be great but I guess thats too much to ask since that also means allocating money which
I guess devs gonna hardly do that, after all its the same as wasting money just for the development, if they are not committed with their game in the first place this investment to their own game doesn't make sense.

[LogitechMouse]

The trend will not be the same, but there will be some who will still be operational despite not being on the trend anymore.
Hype is long gone.

Well as for the news, it's pretty common that we see a short spike after some good news from projects. Just look at Ethereum's price right now just after Blackrock announced that they are applying for its spot ETF. It surged and surpassed the $2100. Of course both projects are different, but I'm just saying that any good news mean price increase for every project.

It may a bit better if illuvium will able to be listed on steam instead of epicgames.

Correct me if I'm wrong, but as far as I can remember, Steam don't allow NFT games on their platform, aren't they? Please don't criticize me.

[bluebit25]

The trend will not be the same, but there will be some who will still be operational despite not being on the trend anymore.
Hype is long gone.

Well as for the news, it's pretty common that we see a short spike after some good news from projects. Just look at Ethereum's price right now just after Blackrock announced that they are applying for its spot ETF. It surged and surpassed the $2100. Of course both projects are different, but I'm just saying that any good news mean price increase for every project.

A bit of an aside, perhaps there is some connection when price increases occur on a large scale in the space, but I am not too surprised about the news being spread as a way to legitimize the price.

Even with technical analysis, market fundamental analysis, psychology,... I can also make some speculations about the possibility of fluctuations, but honestly everything is just theoretical speculation and the displayed results may be correct or incorrect. What we think of as trends really don't show much value outside of volatility charts.

I also accidentally saw the doubts of many people, but more honestly, it was a regret for not being able to catch up with this price increase. Even though excitement is growing, don't really trust what's being revealed. Even with the latest news about the ETH spot ETF, I don't expect a strong wave here, but of course this brings an exciting atmosphere to the market.
Vitalik! Oh, my goodness!

[cryptoaddictchie]

Well not only Illuvium but different projects are also flying high due to different reason. But I think Illuvium is one of the best game out there besides bigtime and other triple A projects. So its not shocking to see their token pumped that much. Unfortunately I missed the airdrop for this project which is quite so easy, like being in discord during the time they asked form. What a miss opportunity for this good project.

[Yogee]

- IMO, the Gamefi hype is slowly spreading now, and many people are starting to FOMO with this trend. Although the potential is undeniable, we need quality projects and enough longterm development capacity if we want this field to develop stronger.

I just checked Coingecko and it seems a lot of older gamefi projects are coming back to life. I think they are a better bet than the new ones since they've already proven that they are actively developing even during the bear market. They are also unlikely to be rugpulls at this point. The only thing that I'm concerned about is that they are still too many and too scattered in different chains.