The Global GameFi market size surpassed $8.98 Billion in 2023, and according to analysts, the number will grow to $90 billion in 2031. Crypto has now entered the untapped market – gamers, and their desire to make tangible profits while enjoying the game is becoming stronger. So, the trend is clear – GameFi is the future, and intelligent investors already started to allocate their funds to such projects.
Three particular GameFi-related crypto initiatives are Sui ($SUI), Ronin ($RON), and Galaxy Fox ($GFOX). Which one will lead the sector in 2024? The article will review these three alt coins to watch and evaluate their performances.
A very recent GameFi initiative, Galaxy Fox combines elements of both the meme coin industry and GameFi itself. This innovative strategy combines the fun of memes with the opportunity to make money from GameFi, resulting in a very lucrative ecology. Its diverse user base is attracted to its focus on entertainment, incentives, and long-term growth strategies.
Simple but very competitive tournaments will be hosted by Galaxy Fox weekly and monthly. After each gaming season, the leaderboard will reveal the stats and reward the top 20% of the players with a slice of the prize pool. So, half of this sum will go to the winners according to their ranks, while the other half will be used to support the project's expansion.
An important part of the Galaxy Fox game is NFTs. The project plans to release a collection of 3,000 unique, Galaxy Fox-themed NFTs on its proprietary marketplace and give them a real purpose – to serve as performance boosters for players and help them increase their competitive edge.
Overall, the Galaxy Fox gaming experience is sure to be exhilarating and addictive. The developers have put in a lot of work to make sure the interface is smooth and easy to use, and the community can't wait to immerse in this exciting Web3 experience.
The hype around $GFOX is felt from its price performance as well – This new ICO crypto has already raised over $3.2 million, and the price of the native token surged by 230%. Given the amount of interest, it seems that $GFOX will be one of the best altcoins of its kind once it officially debuts.
One public blockchain actively working to facilitate blockchain's broad adoption in GameFi is Sui. From the very beginning, it became a desirable center for those making Web3 games. Sui's primary goal is to provide developers with the resources to build experiences that can effectively handle one billion people at scale. Developers may make use of its great throughput, large storage capacity, fast reaction times, and economical utilization.
Presently, Sui has an amazing collection of well-made games that are either out now or are in the works. These include games like the RPG sandbox game Overworld, the Metaverse game Metaworld, the action-packed Bushi akin to Overwatch, the fitness battle game Run Legends, and the recent hit 3A production Abyss World.
The last month has been optimistic for $SUI, and the increasing interest in the GameFi industry should further push the crypto's appeal in the years to come. So, make sure you keep $SUI among your alt coins to watch list.
A gaming-centric Ethereum sidechain called Ronin was built to speed up and lower the cost of transactions compared to Ethereum's mainnet. Its first release was in February 2021, when it was functioning as a chain compatible with the Ethereum Virtual Machine (EVM).
When Ronin was launched, it used a "proof of authority" (PoA) blockchain, which meant that only verified users could operate validator nodes and check the legitimacy of blockchain transactions. Because it relied on a small number of validators, this system was criticized for being too centralized.
The $622 million attack that hit Ronin's bridge in March 2022 was a major setback for the cryptocurrency. Despite the ultimate recovery of some of the stolen money, the incident caused worry and fluctuations for its native token, $RON.
Nevertheless, $RON has managed to rebound and now stands as one of the top names in the sector. Its token has been on a steady, bullish ride since Q4 2023, and many believe it will achieve more within the GameFi sector in the coming years.
The GameFi sector is expanding fast, and identifying worthy alt coins to watch and join the trend with is extremely important. For now, Galaxy Fox seems to be promising the biggest growth to its investors, and its 230% rally during its presale is an indication of its remarkable future. The ICO is currently in its 7th stage, and its uniquely designed presale model promises to increase the value of $GFOX even further. So, better explore the project now, as it could pay off massively in the future.
Learn more about $GFOX here:
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.