This week was quite an eye opener. I noticed most of the things that had the biggest gains were game coins or metaverse coins, and you can also say coins associated with NFTs.
Okay, so we had Sandbox, Gala, Mana leading the way these past few days. Immutable X also doubled in value though at a slower pace. Trilium too has rallied from a deep dip.
This is good news though for crypto as a whole because it further solidifies how blockchain technology will be utilized in the future. It also speak volumes on how NFTs can evolve to more than just a tool for artists to make money.
Noticed too that a lot of crypto platforms are venturing into the NFTs, and so they are really betting big on the usefulness of NFTs.
In all of these things happening, I got surprised though that probably some coins I was expecting to go with the high-flying gaming coins are Tezos and Solana.
Tezos is the platform of choice for collectible card games. Their game Emergents looks to be gobbled up by deck stackers. As per Kathleen Breitman, Tezos is going to "blockchainize" CCGs and that it is going to be in favor of players.
I saw in the dev team of Emergents are peeps from Magic the Gathering and Pokemon online game developers. So I think if Emergents get a bit of success, it would be easy to convince Wizards of the Coast and Pokemon to be in Tezos.
Solana on the otherhand has Solchicks debuting soon. I have not understood the economics of Solchicks yet but as I understood it you have to buy a Solchick or an egg and that time the going price was 3 Solanas. Yesterday I saw on a group forum that the going was already 8 Solanas.
One thing I don't understand though is why the heck would games be that expensive? Sure, you get to have some NFTs, but games usually have like five years tops to be relevant, and then new games will come out.
For me, it's not really that quite appealing to buy those game NFTs and then in five years time those NFTs values are going to be dumped on the market for almost no value. So I guess buy only the coins you need for the game. Don't over buy on in game coins. Much better if you buy the platform coin.
Example Gala has Town Star game, and the Town Star game has its own token. So if you're an investor, buy the Gala coin, not the Town Star coin except for in-game purchases.
DeFi has also been rocked by the NFT mania. So I took a look at Latte coin's website. Latte site is basically a staking and swap site. Then I noticed they are also selling NFTs. If you buy the NFTs there, your staking returns are increased as compared to staking without an NFT.
So just saying that NFTs are having more and more uses than just being plain images tied to a wallet. They are evolving and truly becoming more and more of a vital cog for the whole cryptoverse.
Probably this is why Ethereum is still going on the upward trend because Opensea and other NFT marketplaces are making a killing on the sale of these NFTs. People are actually already voicing their displeasure on the exorbitant fees they pay for gas.
Eventually I foresee that this will be Ethereum's Achilles heel. If they don't fix the high prices of gas fees, people will just naturally go to other platforms that have NFTs without gas fees like Tezos.
Theta too I think would be a major player in the future. As blockchain games are becoming more popular then live streaming of these metaverse games would naturally go in tandem with Theta's streaming network.
Okay, so just a recap on what's going to happen:
More games coming out.
NFTs will have more usage.
Tezos should be a pain in Ethereum's ass.
Theta will be poised to take advantage of live streaming for blockchain gamers.
If you like this article, and got really loads of money because you bought Tezos, you can send me some love or Tezos on this wallet:
tz29cFey5qSECYZwfvczPfj8NNTpKPgTvKVg
