Top 3 Gaming Tokens to Look Out for in February 2022

The gaming industry is one of the fastest-growing industries in the world. It has taken over the entertainment industry and is now worth billions of dollars every year. There are many types of gaming tokens available in the market. These tokens allow gamers to buy and sell in-game items and use them for trading and earning profit. Yet a few have been dominating the market for a long time.

Before getting straight into the gaming tokens, let’s have a more generalised look at the entire play-to-earn industry.

GameFi On-Chain

Even though layer 2 blockchains are much cheaper than Ethereum and its other Layer 1 competitors; developers and buidlers are choosing to build on the Ethereum Blockchain. According to data from Footprint analytics, Ethereum has the largest weekly share on a number of gamers building on top of it, and on #2 we have Binance Smart Chain.

Weekly Number Of Games By Chain
Footprint Analytics: Weekly Number of Games by Chain

Looks like most of the gamer economy in the Play-to-ear ecosystem is not only concentrated on the top 2 blockchains; rather, the top three games also constitute over >85% of the total volume being traded. Defi Kingdoms, Axie Infinity, and Pegaxy have over $42 Million of the daily trading volume.

Top 10 Games Ranking By Volume
Footprint Analytics: Top 10 Games Ranking by Volume

Most of us might’ve heard about the legendary Jeff Zirlin or The Jiho created something that sort of kicked off the entire gaming industry. Looking at the data that co-relates fundraising, it becomes comparatively clear about investor attention in a particular project. Further, most of the Series B fundraising happened during September and November last year, remember what else happened back then? Bitcoin hit another all-time high (ayyyyo it’s not related, I know. Or is it?)

Footprint Analytics: Monthly Fundraising Amount By Round
Footprint Analytics: Monthly Fundraising Amount by Round

Wanna know where the gamers cloud is hanging out the most? Well, simply find the game on the blockchain that sees the maximum number of daily gamers. Apart from the crown, why else might you be interested in these stats? Maybe because the more the number of gamers, the higher would be chances of rewards. (ps, you didn’t hear that from me)

For more in-depth analysis, visit CoinCodeCap Markets.

Footprint Analytics: Daily Gamers By Chain
Footprint Analytics: Daily Gamers by Chain

Axie Infinity (AXS)

Axie is a new type of game, where players own their in-game items and is partially owned and operated by its players. Axie Infinity earns revenue by charging 4.25% on transactions in its marketplace. Players can earn AXS tokens by playing the game and using them to help shape the game’s future. Axies, land, items, and bundles can be sold or purchased by the player.

Sky Mavis founded it in 2018, and its native coin, AXS, powers it. It is currently trading at $49.83 with a market cap of 3 billion dollars and has a max supply of 270,000,000 coins, currently ranking at #42 on CoinMarketCap.

On the 1D timeframe, AXS was trading in a downwards trend for a couple of weeks and now has formed out the Bullish harmonic Shark pattern where the price action is currently consolidating at the Potential Reversal zone level it has filled out as well we can expect a good momentum from here if BTC remains stable.

Discounts

Use referral code (MYWSAFR8) for Binance and get 20% off on Trading Fees.

Use Referral code (Coinmonks) for FTX and get 5% Off on Trading Fees.

Axs/Tetherus, 1D
AXS/TetherUS, 1D

DeFi Kingdoms (JEWEL)

The DeFi Kingdom is a decentralized game built on a blockchain designed to play fun games with other players. It is designed with useable NFTs. In the game, the NFTs are the heroes. Different hero classes have different stats that come in handy when doing specific tasks. JEWEL is built on the Harmony ONE platform, using the Uniswap protocol.

Its native coin, JEWEL, powers Defi Kingdom. It is currently trading at $7.03 with a market cap of 441 million dollars and has a max supply of 500,000,0003 coins, currently ranking at #3994 on CoinMarketCap.

On the 5H timeframe, JEWEL consolidates in a descending triangle and is rejected by the strongest trendlines acting as resistance. Also, the marked red box acts as mid-term resistance. Retesting & bouncing of supports, again and again, is making loose upward momentum which would eventually cause a breakdown, and it may continue to bleed further.

Discounts

Use referral code (MYWSAFR8) for Binance and get 20% off on Trading Fees.

Use Referral code (Coinmonks) for FTX and get 5% Off on Trading Fees.

Defi Kingdoms/Tether, 3H
DEFI KINGDOMS/Tether, 3H

MOBOX (MBOX)

Mobox is a blockchain-based platform where gamers can trade achievements for cryptocurrency. It operates on the Binance Smart Chain. Mobox is a crypto gaming platform that offers three different types of games, in addition to NFTs and DeFi. The player always has actual ownership over the in-game assets they earn. With NFTs, assets can’t be destroyed.

Vadim Kot founded it in 2021, and its native coin, MBOX, powers it. It is currently trading at $2.73 with a market cap of 218 million dollars and has a max supply of 1,000,000,000 coins, currently ranking at #119 on CoinMarketCap.

On the 3H timeframe, MBOX fell with a strong downtrend, but it started to trade in an uptrend after touching its lower level. It formed the ascending triangle where the price action has broken out the resistance level, pending the retest.

Discounts

Use referral code (MYWSAFR8) for Binance and get 20% off on Trading Fees.

Use Referral code (Coinmonks) for FTX and get 5% Off on Trading Fees.

Mobox/Tether, 3H
MOBOX/Tether, 3H

Closing Thoughts

The most important part of trading is discipline and patience. So, according to the above analysis, the coins we just spoke about might see some decent gains. Again, it’s your hard-earned money you’ll be investing, so Do Your Own Research before investing.

Also, read

Prabhat Tiwari
Prabhat Tiwari

I am someone who loves swimming in the ocean of DeFi and believes the disruptive technology, i.e., Bitcoin will change a lot of things and not just our financial system.

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