Momentum Behind 2021’s Crypto Gaming Coins
Polarity. Volatility. Even Mass Hysteria. A wide array of terms can be used to explain the phenomenon of cryptocurrencies in 2021. Whatever the term, it’s most certainly the type of phenomenon capable of creating new millionaires, which the market most certainly did in 2021. Of course, celebrity tweets played a role in promoting the popularity of the market, but what a year it’s been for those with an iron stomach.
Wall Street has always been fond of saying that “volatility works both ways” and you can ask the investors who bought into altcoins like AXS, SAND, or FTM back in January if truer words were ever spoken.
Though rocky at times with a couple of monumental dips, it was a fine year for the cryptocurrency market as it made huge strides towards mainstream adoption and gained $30 billion in new investments. Those are remarkable achievements for a market that hasn’t yet adopted a regulatory framework and was all but outlawed by a global superpower (China). Still the popularity of digital assets continues to grow no matter what the world seems to throw at investors.
A Look Back at 2021
A look back at the top-performing digital coins of 2021 reveals one thing about the future – get to know metaverses. Facebook's recent re-branding as “Meta” ignited a powder keg that thrust every coin that was metaverse related into the stratosphere. Essentially, a metaverse is a virtual world where people socialise, go to virtual shopping malls, buy virtual real estate, and do pretty much anything they would do in the real world. Most of the top-performing coins of 2021 are playing an increasingly crucial role in these metaverses:
Gala (Symbol: GALA) – Revenue from the global gaming market is expected to reach $200 billion in 2024. At the center of it is a blockchain-gaming platform, GALA – a digital currency that shot up an absurd 51,000% in value in 2021.
Axie Infinity (Symbol: AXS)– Another metaverse-related cryptocurrency that took early investors on a Nantucket sleighride in 2021. Axie Infinity posted a gain of nearly 19,000% this year.
The Sandbox (Symbol: SAND) – Rage on, metaverse coins! Sandbox has locked arms with mega-boosters, like Snoop Dogg who incidentally built his very own virtual mansion in the Sandbox platform. Tallying a 14,530% pump in value since the start of the year, SAND enjoys its rightful place as one of our top performers of 2021.
Fantom (Symbol: FTM)– Best described as a provider of ledger services to global businesses, Fantom has posted a surge of almost 9000% in 2021 and, with its very strong fundamentals, there could be more room to grow in 2022.
Decentraland (Symbol: MANA) – Decentraland is a wildly popular virtual world with 300,000 monthly participants (and growing). Many of them wanting to purchase land or trade their digital wares in the platform. To do it, they’re using Decentraland's official digital currency, MANA. The surge in popularity was able to boost the value of MANA by almost 4000% in 2021.
As we march into the new year, we all aspire to discover the next coin best-positioned for a 50,000% gain. Be prudent about your research, and understand this market is still young, extremely volatile, and oh-so exciting.
Author: Greyson Kelly
Greyson Kelly is a business writer living in Milwaukee, Wisconsin. He writes extensively on technological trends, cryptocurrency, and ‘cutting edge’ industry topics. He has an MBA in Business and has over a decade of experience in communications and public relations.