Crypto Gaming Coins See a Surge After a Rough Week

The crypto market has had a rough go of it this past week, losing billions of dollars worth of value, due to the Terra Luna and UST debacle, which apparently could have triggered the collapse.

Don’t be too worried, for portfolios may be coming back to life with the overall market going up approximately 8% and altcoins such as Cardano, Solana, and Avalanche moving up more than 20%.

But the coins that are rising like a phoenix have been metaverse and gaming tokens, seeing gains of 40% during the past two days according to CoinMarketCap.

Decentraland (MANA) and Gala Games (GALA) are both crypto gaming-focused companies that have a wide ecosystem of applications.

GALA, the coin of the up-and-coming crypto game corp has risen a whopping 50% over the past 24 hours, sitting at a price just below $.10. While this is a stunning rebound, the coin is still down 27% over the past week.

MANA, the token of one of the original metaverse games Decentraland, has jumped 41% to $1.11 in the past 24 hours. The Competitor, the Sandbox token, SAND, has also seen a significant rise of 19% at $1.11, in the same amount of time. However, both of these tokens are still well below their all-time highs, especially since Facebook revealed its own metaverse back in October.

GMT, the token for a project that's been getting a lot of buzz due to its “move-to-earn” mobile running game, STEPN, is up 39% to $1.66 at the time of writing. Enjin Coin, the coin for the crypto gaming company, Enjin, has also risen by 26% to about $.74 at the time of writing.

With the industry feeling a lot of uncertainty due to the recent flash crash caused by Luna, it seems some are looking toward crypto-based games as a sort of refuge for their funds. With some of the only actual tangible use, these tokens may seem lucrative even in a bear run, as the potential for future updates and potential player bases give these cryptos more value than others.