5 GameFi Tokens BUIDLing in 2023: AXS, SAND, DEP, IMX & OAS

SINGAPORE - Oct. 31, 2023 - PRLog -- With token prices down across the board since their heyday in 2021, almost all of the major GameFi projects out there have equally low numbers: for example, SAND and AXS recorded price drops of around 90% between their all-time highs and lows. Other big projects fare similarly when compared using the same metric.

Within the overall crypto markets, GameFi is however still going strong. Web3 games now generate 23 times more on-chain transactions than DeFi, stealing the bulk of worldwide blockchain usage, according to a State of Crypto Index report by VC Andreessen Horowitz crypto fund a16zcrypto.

"Our 2023 report aims to address the imbalance between the noise of fleeting price movements – and the data that tracks the signals that matter, including the durable progress of Web3 technology. Overall, the report reflects a healthier industry than market prices may indicate, and a steady cycle of development, product launches, and ongoing innovation," said Andreessen Horowitz CTO Eddy Lazzarin and other editorial staff in an April 2023 blog post.

Point being, the market won't stay bearish forever—we're in a developmental or "BUIDLing" phase, not a death-spiral, and when the market does rebound the top GameFi projects likely will, too.

With this in mind, it is worth examining which GameFi projects are continuing to build on and scale their platforms and taking on innovative initiatives that could set them up for even greater future success. There are hundreds of games with Play-and-Earn (P&E) tokens out there, but most of them are singular games with limited scalability. Let's take a look at five promising GameFi platforms with big visions and tokens that could be poised to bounce back hard once the market turns bullish.

Read full article: https://www.prpocket.com/2023/10/5-gamefi-tokens-buidling...