P2E Sector Comeback: AXS, MANA, and SAND Outperform BTC With 60%+ Hikes, But This Web3 Gaming Ecosystem Might Outperform Them All in 2023
With the recent cryptocurrency industry revival, the play-to-earn sector is really starting to buzz. Heavyweight P2E projects such as Axie Infinity, Decentraland, and The Sandbox have all outperformed Bitcoin, with surges of over 60% during the past 30 days as investors quickly rush back into the gaming sector.
As a result of the price hike, the market cap for the entire play-to-earn sector has grown beyond $6.5 billion as investment starts to flood into the market.
One massive benefit of increasing prices is that players earn more money when playing games. As a result, top blockchain-based games are now experiencing a flood of users back into their ecosystems as players return seeking to gain an income through playing their favorite games.
Although the heavyweights have seen substantial growth, one project, in particular, has the potential to outperform the entire sector following its fundraising event. The project is already gaining widespread attention after raising over $1 million in under two weeks. Furthermore, the project is already well on the way to developing its first set of three fun and addictive games for its ecosystem. To find out more about this project, keep reading.
P2E Sector Makes a Huge Comeback as Gameplay Becomes Major 2023 Focus
2021 was a brilliant year for the play-to-earn sector as titans in the industry, such as Decentraland, The Sandbox, and Axie Infinity, started to see impressive growth in terms of market cap and the number of users.
Users of these platforms were mesmerized by the fact that they could enjoy playing their games while earning an income on the side. As a result, gamers from low-income countries ditched their everyday work and took up Web3 gaming as their primary source of income.
Unfortunately, the economics behind most of these play-to-earn games started to fail during the 2022 cryptocurrency capitulation. Rewards dried up relatively quickly, causing a mass exodus of players from all Web3 gaming platforms.
However, the recent Bitcoin price surge has helped the entire cryptocurrency industry to recover. Since the start of the year, Bitcoin has surged by an impressive 35%, allowing the cryptocurrency to break back above $20,000 and head closer to $23,000.
As a result of the price hikes in the number one ranked cryptocurrency, the play-to-earn sector has seen some considerable gains, bringing much-needed attention back to the Web3 gaming sector.
It seems that the latest surge in the P2E sector could result from a massive shift in priorities for Web3 gaming ecosystems. According to a report from the Blockchain Game Alliance (BGA), 35% of respondents state that gameplay improvements will be the industry’s number one priority in 2023. Instead of attracting users through golden earning potential, Web3 gaming platforms are now trying to make their games enjoyable to keep players on the platform while simultaneously letting them earn rewards.
A prime example of gameplay improvements occurring in 2023 can be seen in Axie Infinity, which recently updated its game to allow users to customize their Axies and trade their in-game NFT items. However, a better example of putting enjoyment first is the new upcoming project detailed later in this article.
Heavyweights: AXS, MANA, SAND Surge More Than 60%
As a result of the Bitcoin price hikes, heavyweights in the play-to-earn gaming sector have witnessed significant surges this month – some completely outperforming Bitcoin.
Axie Infinity is most certainly the largest P2E ecosystem, with a market cap of around $1.3 billion – making it the 41st largest cryptocurrency. Over the past 30 days, AXS, the naive token behind Axie Infinity, managed to surge by an impressive 62% – allowing the price for the token to surge back above $10 and reach the current $11.22 level;
Closely following Axie Infinity is Decentraland. The popular metaverse gaming ecosystem currently holds a $1.2 billion market cap level, making it the 42nd largest crypto in the industry. MANA, the native token behind Decentraland, saw an impressive 105% price hike over the past 30 days, allowing the cryptocurrency to break back above $0.5 and reach as high as $0.75 this week;
The next heavyweight is The Sandbox, which is ranked in the 43rd position with a $1.1 billion market cap value. SAND, the native token behind the metaverse, saw a 68% price hike over the past 30 days, pushing the token as high as $0.84 earlier in the week;
It’s not just the heavyweights that are seeing substantial growth. Smaller P2E projects are also seeing meteoric price rises amidst the latest crypto revival. For example, Illuvium, which has a market cap of $120 million and is ranked 232nd, is up 65% over the last 30 days. Another example is Stepn, which holds a $230 million market cap and a ranking of 118th, saw an impressive 81% price hike this month.
It doesn’t stop there. Alien Worlds (market cap: $60 million) is up 42%, Yield Guild Games (market cap: $45 million) is up 44%, and UFO Gaming (market cap: $41 million) is up 42%.
Blockchain-based Games See Epic Growth In Users
Axie Infinity is leading the charge in heavyweights that see users returning to their P2E ecosystem. Since the start of the year, Axie Infinity has seen almost a 60% rise in the number of active users on the platform. Adding further to this, the sales volume on the platform is also up by an enormous 200%.
It’s not just user growth that Axie Infinity is experiencing. The Web3 platform is also seeing a rising trend in Revenue Share. According to data from Tokenterminal, daily revenue in the Axie Infinity ecosystem increased by over 70%. Currently, there is an average of around $10,000 in revenue on the platform;
It’s not just the heavyweights that are seeing strong user growth. Popular P2E games in the sector are also experiencing solid upticks in the number of users on the platform. For example, DeFi Kingdoms now has around 8,800 daily active users, with the number of in-game transactions also increasing;
Could This P2E Ecosystem Outperform the Heavyweights in 2023?
Despite the relative uptick in market cap and user growth, there are still many inherent problems with the majority of the play-to-earn heavyweights in the industry. One of the core problems is centered around the sustainability of the rewards. As we saw during the crypto market collapse in 2022, most of these platforms lose their players once the rewards start drying up.
At the core of the problem is the fact that players aren’t coming to the platform to enjoy gaming. Instead, the majority of players are only there to earn money – leading to unsustainable economics.
Well, there is one new project on the market gaining significant momentum as they seek to overhaul the entire play-to-earn sector and introduce sustainable earning mechanisms for players that stick around.
Meta Masters Guild: The Largest Mobile Gaming Guild in Web3
Meta Masters Guild is now the fastest-growing play-to-earn guild in 2023 and is on the right path to becoming the largest mobile gaming guild in Web3. The project began fundraising just two weeks ago and has already raised over $1.3 million in such a short period of time.
The project is on a mission to build high-quality, blockchain-based mobile games to form a decentralized gaming community. At its heart, the ecosystem is designed to allow all members to earn sustainable rewards for their contributions to the ecosystem through gaming and growing the community.
In a nutshell, the system is designed to incentivize players to invest their time and money into their games by ensuring they are fully compensated.
Fun Comes First; Earnings Come Second
All the games surrounding Meta Masters Guild are built in-house through a partnership with Web3 gaming studios. The entire ethos of the project is built on a set of principles that put the community at the forefront of the ecosystem.
One of their most prominent principles is that fun must come first. Creating fun mobile-based games is their number one goal, and the team has stated that they will not let tokenization or earning potential get in the way of creating a fun gameplay experience for everyone playing. In addition, the team understands that creating a sustainable rewards economy requires a stable player base. Therefore, putting the fun back at the core of Web3 gaming should help players to stick around, even if the crypto market starts to drop in value again.
Furthermore, the team also lives by the principle that communities make games. They understand that multiplayer games are nothing without the community. Therefore, to keep the members of the guild engaged, all players will have a voice in the ecosystem to help shape future development through a democratic voting system.
Destroying Predatory Gaming Tactics
Meta Masters Guild is aware that gaming is one of the most predatory industries in the world. Giant gaming corporations keep themselves in solid positions by holding famous gaming titles hostage, allowing them to release substandard games.
To make matters worse, these large gaming corporations often use dirty monetization tactics, such as expensive loot boxes, to squeeze their players for maximum profits. As a result, gaming houses make billions of dollars, while players never earn a penny. Furthermore, gaming studios rarely even consider the community, often ignoring any community feedback regarding gameplay improvements.
Meta Masters Guild is on a mission to fight against these predatory gaming dynamics. They’re hellbent on creating a gaming ecosystem where players enjoy playing the game and are compelled to put additional money into the game while simultaneously providing an in-game economy that is fair and transparent.
Sustainable Economics at the Heart of MEMAG
Sustainable economic rewards are at the heart of the Meta Masters Guild. The team behind the project understands that the play-to-earn concept is fundamentally flawed. So instead, they’ve coined a new term they prefer – Play-And-Earn.
Meta Masters Guild doesn’t want people to play their games with the sole objective of making money. They understand that if the entire player base is only playing to earn profits, the earning mechanisms behind the games are likely to be unsustainable.
As a result, they prefer the model of play-and-earn, which lets users play free games (with the option of buying in-game items) and then allows them to earn their money back and be compensated for the value they provide to the ecosystem.
The play-and-earn model allows players to earn GEMs in various titles. They have complete autonomy to do whatever they desire with the rewards. Some of their options include;
- Exchanging tokens to MEMAG
- Staking MEMAG into the platform for additional rewards
- Using GEMs to purchase in-game NFTs
- Cashing out GEMs to ETH to bank earnings.
Players can purchase premium, playable NFTs from the Meta Masters Store and connect their wallets to utilize the NFTs in the game. These premium NFTS give the players a higher chance of winning a game to earn more GEMs as they provide the player with buffed in-game stats.
It’s not just through gameplay that players can earn. Meta Masters Guild aims to create a community, and those building the community are also rewarded. There are various methods to engage with the community to earn rewards. This includes the following;
- Building games for the Meta Masters Guild platform
- Becoming an elite-level player
- Developing eSports teams
- Creating content
- Community giveaways.
If you’re a game developer, MEMAG will help you get your idea off the ground if they think the game sounds appealing to their community. They are committed to striking partnerships with different game developers and will offer early asset investment into titles being built for the MEMAG ecosystem.
Furthermore, building an esports scene behind Meta Masters Guild games is one of the project’s top priorities. As a result, Meta Masters Guild will provide in-game assets of the highest standards to their top-level players, so their elite-level players stick around to compete in esports.
Speaking of esports, if you manage to create an esports team for Meta Masters Guild titles, the team will compensate you for your efforts. They will also commit to long-term deals with content creators looking to create content surrounding the entire Meta Masters Guild ecosystem.
Finally, active contributors to the ecosystem will have a chance to win MEMAG tokens, in-game assets, and other rewards through regular community giveaways and events.
Three Epic Games Already Lined Up
The fact that Meta Masters Guild is still in its fundraising stage hasn’t stopped the team from already beginning to develop their first set of games. This speaks volumes for their intentions to build a mobile-based gaming community.
The first set of games includes three separate titles in varying stages of development. These include;
- Meta Kart Racers
- Raid NFT
- Meta Masters World
The idea of these games is to provide a wide range of options for players so there is something for everybody to enjoy. All of the games are being built with a Web3 gaming studio called Gamearound.
Meta Kart Racers will be the first title in the collection. It’s a PVP racing game specifically built for mobile devices. In the game, players compete with each other in a competition while escaping the evil Meta overlords. They can earn GEMs along the way according to their performance on the track. Meta Kart Racers is designed to be a skill-based game. This means that the better a player performs, the more rewards they earn.
The second game in the collection, Raid NFT, is a turn-based fantasy fighting game. In the game, players must choose between several warrior factions and battle in hostile environments. Players can earn GEMs by progressing through the game and completing different challenges.
The final game in the series is Meta Masters World, an open-world metaverse-based exploration game. This game has less structure, allowing players to create their own stories and do as they please. Players can explore the content, collect resources, and enter competitions to earn rewards. Every in-game item in the metaverse is an NFT, and there is a bustling marketplace for trade.
Overall, these three games provide something everybody can enjoy, play, and earn rewards.
Presale Sails Past $1 million Milestone
The presale for the native token behind Meta Masters Guild, MEMAG, is currently in full swing. So far, MEMAG has managed to raise over $1.3 million in a fortnight since launching – proving the remarkable traction for the mobile-based Web3 gaming guild.
The presale currently sits in Stage 3 and sells each MEMAG for $0.013. Once the presale hits the $1.84 milestone in fundraising, the price for the token will increase to $0.016 as the presale progresses to Stage 4. As a result of the increasing price mechanisms, those that invest in the project during the earlier stages are more likely to come out of the presale with profits already banked. Furthermore, the team has also stated that they will list the token on exchanges at $0.023.
Overall, Meta Masters Guild is ready to complete an overhaul of the Web3 play-to-earn market by introducing fun and enjoyable games that have sustainable economies to ensure players can keep earning rewards. Once the presale is complete, expect big things to come out of this project as they revolutionize the Web3 mobile-based gaming space.