With the resurgence of cryptocurrency values, GameFi studios are witnessing a rejuvenation in their momentum.

In this article focused on GameFi, Cryptocurrencylistings will explore the latest developments and news in this dynamic industry, which has recently regained the spotlight.

What is GameFi?

GameFi, which stands for 'Game Finance', blends traditional gaming with blockchain technology and cryptocurrency, allowing players to earn tangible rewards in the form of GameFi tokens or coins.

Leading the charge in this GameFi renaissance are some major players in the industry. For instance, Guild of Guardians (GOG), developed by the Ethereum-based firm Immutable, recently launched on both Google Play and Apple's App Store. Players embark on an adventurous quest to liberate Elderym from Dread’s control while earning GOG tokens in the process.

Another contender shaking things up is Animoca Brands Japan, partnering with Square Enix to launch a new hero game titled Symbiogenesis, which features non-fungible tokens (NFTs) for each character. In this fantastical setting, players must solve puzzles and tackle challenges that reflect themes of distribution and monopoly.

On the other side of the spectrum, the Arbitrum-based action RPG Seraph: In the Darkness is making waves with its array of NFT items, including heroes and gear, having raked in nearly 11,000 Ether in sales, despite still being in its preseason development phase.

In the competitive landscape of GameFi, newcomers are also carving out their niche. Pixels, a casual Web3 game that offers a vast world for farming and exploration, has recently hit a remarkable milestone with one million daily active users, generating $4.4 million in token revenues from in-game purchases and VIP memberships last month.

While Axie Infinity dominated prior cycles, generating over two-thirds of blockchain GameFi NFT transactions, a surge of new competitors has emerged, each with unique offerings and the potential for rapid price appreciation.

Immutable (IMX) is at the forefront of the GameFi movement, seeing a staggering 200% increase in its coin value over the past year. The news that BadMad Robots will exclusively launch on Immutable’s zkEVM has only added to the excitement surrounding this project.

With more than 20 favorable technical indicators and IMX trading above average, experts remain optimistic about the coin’s potential. Some analysts predict that Immutable could soar to $4 by the second quarter of 2024, reinforcing its status as a standout in the GameFi arena.

KangaMoon distinguishes itself by merging SocialFi initiatives with Play-to-Earn (P2E) elements. Players can earn KANG tokens in KangaMoon’s upcoming P2E game by successfully completing challenges, tournaments, and matches.

Although currently in the Bonus Stage, KangaMoon's presale enthusiasts are bullish about its future prospects, especially ahead of its upcoming listing on BitMart and the launch of another major centralized exchange.

Axie Infinity (AXS), a trailblazer in blockchain monster-battling games, continues its ascent in the GameFi landscape. Following the announcement of an impressive milestone—nearly 50,000 players participating in the Daily Bounty Board quest for AXS rewards—the price of Axie Infinity coins spiked by 5%, according to CoinMarketCap.

The persistent allure of the Axie Infinity universe is evidenced by the impressive turnout of nearly 50,000 participants drawn to the Daily Bounty Board since its inception in April.

Gala (GALA), a prominent player in the P2E gaming sector, has recently gained attention with a notable 40% increase in its coin value this year. The launch of 'May Mayhem,' a month-long series of events offering various rewards, has further sparked user interest in GALA.