GameFi is still a relatively new industry and one that is continually evolving everyday.
Despite its rise occurring recently, there are many established gaming cryptocurrencies and projects that are at the top of their respective sectors such as the likes of Enjin Coin (ENJ) and Axie Infinity (AXS).
Both of the aforementioned projects are ranked in the top seven biggest metaverse tokens in the world, according to data from CoinMarketCap.
The likes of Enjin Coin and Axie Infinity have allowed newcomers like Xchange Monster (MXCH) to attempt to make a real impact in the GameFi industry.
Xchange Monster (MXCH) exudes trust in its users
As previously mentioned, the gaming cryptocurrency market has grown enormously, as the demand of the rising population of gamers across the world continues to grow.
Through research, it was found that a significant number of cryptocurrency gamers are millennials, making up about 38% of the total crypto gamers population.
The growth of the industry has led the team at Xchange Monster (MXCH) to think about just how they can make their mark on the GameFi industry and they’ll do that by becoming the complete package.
Xchange Monster will aim to serve as a one-stop crypto platform for both the gaming community and developers and will look to offer several features for its users including its exchange platform, a decentralised payment gateway, and more.
Xchange Monster places a lot of emphasis on the safety and security of its products and ensures its users can feel at ease when using Xchange Monster products.
These products and services offered by Xchange Monster are regulated in Switzerland, as it’s governed by the VQF under the supervision of the Swiss financial conduct authority (FINMA).
The Monster Exchange possesses an SRO membership with the VQF which is recognized by FINMA in Switzerland.
Excitement regarding MXCH is warranted as the project is attempting to do something in the GameFi that hasn’t been done.
Enjin Coin (ENJ) enjoys market surge
Built on the Ethereum blockchain, Enjin Coin (ENJ) is a token that aims to make it easier for not only individuals but businesses and brands to use non-fungible tokens (NFTs).
Enjin’s technology powers an ecosystem used for NFTs, gaming, and other distributed apps while its nativeENJ token is used to back the value of NFTs minted within the Enjin Coin ecosystem.
Despite being almost 90% down from the all-time high it reached in November 2021, ENJ has experienced a surge in the market, rising over 12% in the past 24 hours, at this time of writing.
Can Axie Infinity (AXS) bounce back from a challenging year?
Ranked as the 45th biggest cryptocurrency in the world, amassing a market cap of over $1 billion, according to data from CoinMarketCap, it’s been a difficult year for Axie Infinity (AXS).
Having been hacked for $620 million earlier this year, it led to a decline of users in the Axie Infinity game universe as, by late March, daily active users of the game had dropped to under 1.5 million, compared to a high of 2.7 million, recorded in late 2021.
AXS has also suffered in the crypto market but is slowly on the way up, having recorded slight growth of 1.3% in the past 24 hours.
A guest author represents the interests of the company he or she is promoting in his or her articles and is not part of CoinChapter’s editorial staff. CoinChapter is not responsible for articles published by guest authors. The opinions expressed in articles by guest authors do not necessarily reflect the views of CoinChapter. The content published by guest authors is not investment advice.
GameFi is still a relatively new industry and one that is continually evolving everyday. Despite its rise occurring recently, there...
Our Partners
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.