"Whoever buys a gaming token must be happy, yes, there must be a profit now, right?"
After the price of Bitcoin (BTC) reached $50,000 for the first time since 2021, many gaming tokens also drove up as Immutable (IMX) marked a two-year high of $3.15 and MAVIA from Heroes of Mavia more than quadrupled.
Investment firm VanEck in December 2023 expected IMX to rise to the top 25 cryptocurrencies by market capitalization in 2024 and at that time, it was ranked 31st at $2 then now ranked 22nd with a market cap of $3 billion.
Not only that, BEAM which is the token of the Beam gaming ecosystem from Merit Circle DAO also jumped 70% over the past week and is now trading above $0.02 and ranks 55th.
Despite having a smaller market cap so far, the recently launched strategy game MAVIA token has seen a massive climb in value since its debut last week.
In addition to holding an airdrop last week, Heroes of Mavia awarded MAVIA to the first 100,000 players who connected their accounts to the game website along with non-fungible token (NFT) landowners who participated in previous promotions.
Please note that Axie Infinity token (AXS) is also up 13% at $7.88 while The Sandbox (SAND) and Gala Games (GALA) gained 12% and 13% respectively including Illuvium (ILV) which climbed 35% over the past week at $96.40 from $70 on February 5, 2024.
However, one notable exception is RON, the token of the Ethereum gaming network Ronin which soared above $3 last week before its price fell nearly 4% shortly after listing on Binance.
