HomeAltcoinsWill GameFi Tokens Succeed This Year Or Fail? AXS, GMT and ATLAS

Will GameFi Tokens Succeed This Year Or Fail? AXS, GMT and ATLAS

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The volatility in the cryptocurrency markets hasn’t slowed down investments in or the progress of various GameFi and metaverse initiatives. The underlying value offered by the gaming part, itself, was a recurring feature among several of these well-liked initiatives.

Non Fungible Tokens (NFTs) and crypto tokens are now being used by GameFi and Metaverse projects for purposes other than purely speculative purposes. Additionally, investments have kept coming into the area. It appears that A16z and Dapper Labs continue to show interest in and support for venture finance by investing $1.3B in GameFI and metaverse technology. Let’s look at the some popular GameFI tokens.

STEPN (GMT)

Popular cryptocurrency game STEPN rewards players with Green Satoshi Tokens (GST) and Green Metaverse Tokens (GMT) for moving about, walking, or running (GMT). The first-of-its-kind move-to-earn lifestyle app, STEPN, has, however, been subject to significant Distributed Denial-Of-Service (DDoS) attacks.

Additionally, users were made aware of the game’s “network congestion” issues as a result of the quick 25 million DDoS strikes. To prevent any harmful, intentional tampering by users, STEPN has also incorporated an Anti-Cheating design into the software. Due mostly to the rise of STEPN users, play-to-earn business models appear to be encountering various security and sustainability issues. Let us look at the GMT price

Will GameFi Tokens Succeed This Year Or Fail? AXS, GMT and ATLAS

After failing to surpass the $0.83 resistance level, GMT may retrace its steps back to the critical support level of $0.62. Low volatility is being seen as neither side of the price movement. GMT has to break through the $0.83 resistance level in order to become bullish once more in the medium term. GMT will need to maintain a price above the $0.83 resistance level in order to hit the major resistance level at $1.29.

Axie Infinity (AXS)

Players continue to collect additional coins, tokens, non-fungible tokens (NFTs), and in-game goods despite the present slump in the cryptocurrency market. Axie Infinity is the most popular NFT community worldwide, according to a recent CashNetUSA research of 112 countries.

The highest NFT approval ratings were discovered to be in Montenegro, while the worst NFT disapproval ratings were found to be in Poland. The country that is most excited about NFTs is Singapore, on the other hand. Gamers have the chance to gain AXS tokens by participating in the overall Axie ecosystem. Let’s examine the AXS price levels

Will GameFi Tokens Succeed This Year Or Fail? AXS, GMT and ATLASA few days ago, AXS broke through the $15.59 resistance level and tested the $12.21 support level. It was unable to surpass the critical $16.51 resistance level, though. The $12.21 or $10.72 support levels will be the next area of interest. If the bulls surpass the $16.51 resistance level and close above it, AXS can aim for the $16.51 and $23.40 important resistance levels.

Star Atlas (ATLAS)

The massively multiplayer online game Star Atlas takes place in a virtual gaming metaverse. Real-time environments with cinematic quality is within the game thanks to the use of the Unreal Engine 5. In the futuristic science fiction setting of Star Atlas, three primary groups are competing for dominance in the year 2620.

Star Atlas’ main utility asset is ATLAS, however its native governance token is POLIS. Users can purchase NFTs from the market and engage with the ecosystem thanks to ATLAS. Users have the ability to vote on numerous suggestions using POLIS, influencing the project’s direction. Let us look at the ATLAS price levels

Will GameFi Tokens Succeed This Year Or Fail? AXS, GMT and ATLASThe crucial support level of $0.0077 has recently been lost by ATLAS. In the coming days or weeks, this price level will serve as resistance. For the time being, some support has is around the $0.0050 price level. For a short-term bullish tendency to prevail over downward momentum, ATLAS must surpass $0.0065. If it crosses through, $0.0077 will be the next level of resistance.

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Images courtesy of TradingView.

Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

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