Web3 Gaming Token’s Value Tripled In January, Others Hit Their ATH

• Web3 gaming token’s value significantly increased in January 2023.
• Users can access digital services without depending on any centralized entity or actor, thanks to gaming tokens.
• One of the primary goals for the assets is to enable seamless cross-platform transactions.

According to recent findings by Delphi Digital, after the debut of various gaming tokens in the latter half of 2022, demand for such tokens saw a remarkable rise in the first few weeks of the new year.

As a result, the value of the tokens skyrocketed, with some achieving triple-digit growth almost immediately. At the same time, others also hit all-time highs within the first few weeks of the year, according to these findings.

This newly discovered need is attributable to the rise of Web3, a new wave of digital services that promote decentralization, transparency, and trustlessness in various activities, according to the opinions of numerous experts. This development allows users to access digital services without being dependent on any centralized entity or actor.

Ilman Shazhaev, CEO and founder of Farcana, says that GameFi has added a significant value in transactions amount in blockchains. But after a big dump of GameFi tokens in 2022, the industry started to change. Shazhaev added:

This isn’t only about the games and their qualities but also about implementing ponzinomic models in their game economies. This gives more perspectives in gaming incentives and rewarding models and generally boosts token price growth in the market.

Other people in the field also believe that one of the primary goals for these assets is to enable seamless cross-platform transactions.

Many players allegedly want the ability to trade rare and valuable virtual assets across different games and platforms. Hence, this would allow for a thriving virtual economy where players can exchange items for real-world money.