Very speculative, cryptocurrencies linked to video games attract investors

Cryptocurrencies linked to gaming can ultimately be valued at around $1,000 billion, according to some experts.

While the main cryptocurrencies on the market are suffering a downturn, investors are looking at new horizons: cryptocurrencies linked to video games.

These are cryptocurrencies created by online game publishers, those which allow you to purchase features and avatars, often in the form of NFTs (non-fungible tokens). Most of these cryptocurrencies can be purchased on traditional cryptocurrency exchange platforms, then traded and speculated at will on the success of this or that game.

The pixels cryptocurrency is one of the latest to have been introduced on the giant Binance. It gained 1,200% in a few hours and in its wake, two gaming cryptocurrencies set absolute records: those of the games Beam and Heroes of Mavia, two complex precision puzzle games but which have their own universe and their own token.

Speculative market

Investors should be careful, however: this is undoubtedly one of the most speculative markets at the moment. Indeed, we are talking about cryptocurrencies which are worth much less than a dollar, often a few cents. They can then ride the roller coaster in a completely irrational way. The level of risk is therefore maximum.

Crypto analysts see it as an interesting new investment area while the rest of the cryptocurrency market is becoming institutionalized under the effect of the arrival of spot bitcoin ETFs.

Often, it is also a gateway to the most serious projects in a world of web3 and the metaverse, which are experiencing a real renaissance and also bet on the popularity of this or that video game if its publisher is not on board. One analyst estimates that it is a potential market of around 1,000 billion dollars in the long term. As a reminder and to date, the entire cryptocurrency market remains below the $2,000 billion valuation mark.