The GameFi sector is once again experiencing a general rise, are gaming public chains becoming a definite opportunity?

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6 months ago

Yesterday, the concept coins in the gaming sector saw a general rise, with YGG experiencing a 12.05% increase in the past 24 hours, GALA with a 9.35% increase, MBOX with a 7.41% increase, and MAGIC with a 6.28% increase. Compared to other popular tracks such as the Bitcoin ecosystem and the AI sector, the rise in the blockchain gaming sector is not as eye-catching. However, as a track that has gone through a cycle of bull and bear markets and has established a relatively mature industry structure and direction, blockchain gaming remains a focus of attention in the crypto community this year.

In comparison to investing in individual blockchain games, the market has started to choose game infrastructure projects with higher potential. The trends of projects such as Ronin, which was listed on Binance earlier this year and has now surpassed its previous high, and Yield Guild Games, which is transitioning into a blockchain gaming infrastructure layer, suggest that in 2024, "game chains" are likely to be the most attractive narrative in the GameFi sector.

On March 23, according to Decrypt, Yield Guild is building its on-chain infrastructure and considering deep integration of its YGG token with the cooperative gaming ecosystem. In addition, Yield Guild will also launch services such as guild multi-signature wallets, NFT badges, and permission lists for in-game characters in the second quarter of 2024.

YGG has risen by over 200% in the past two months, with a price of $1.32 at the time of writing.

GameFi sector sees another general rise, will gaming public chains become a certainty opportunity?

In addition to Yield Guild Games, Gala Games has recently seen frequent positive developments. On March 29, Amelia Daly, head of partners at the Solana Foundation, joined the advisory board of Gala Games.

Gala Games particularly emphasizes its "infrastructure" attribute. CEO Jason Brink stated in a tweet two weeks ago, "People still think $GALA is just a game token related to some games… when in fact it is much bigger than that." According to his introduction, six companies have signed contracts to develop on the Gala Chain, using the entire GALA ecosystem, especially the node infrastructure, to redefine their businesses, increase revenue, and reduce costs.

In addition to the upcoming MMORPG game Mirandus, Gala Games' launch of Gala Music and Gala Film has also opened up new possibilities for GALA in the creator economy. GALA has risen by over 167% in the past two months, with the largest increase approaching 300%.

GameFi sector sees another general rise, will gaming public chains become a certainty opportunity?

Strong new players are also entering the market.

Not long ago, the Cosmos ecosystem's game infrastructure protocol Saga (SAGA) announced the establishment of the Saga Origins game publishing department to release games on its Saga Layer-1. Saga Origins is committed to providing comprehensive services and collaboration methods, offering additional marketing support to game developers. Currently, Saga has partnered with popular games such as ParallelTCG, GasHeroOfficial, Phantom Galaxies, and Angelic.

Saga has been regarded by the community as a potential gaming public chain not to be missed. Last week, SAGA launched new coin mining on Binance, with over 470,000 participants staking FDUSD and BNB for mining. According to community monitoring, Blast, the fourth-ranked whale in staking, has staked 68,108 BNB, worth $39.5 million, for SAGA mining.

During the previous bull market, the GameFi track was expected to lead the way to Web2 adoption. However, the market is now focusing on more native gaming public chain directions. In addition to the previously mentioned Ronin, established game infrastructure players such as Treasure DAO and Immutable continue to perform strongly. With the entry of new players, the development of the GameFi track remains to be witnessed over time.

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