Top Crypto Gaming Projects Poised for Growth in 2024

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15 Jan 2024

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The money flow during crypto bull market cycles historically happens in three stages.
First, money floods into Bitcoin. Second, money flows into other large-cap cryptocurrencies like Ethereum, Solana, etc. Third, money flows into mid and small-cap cryptocurrencies, like some of the altcoins we have explored in multiple articles.
Historically, the cryptocurrencies that do the best and are the most popular are part of the leading narrative of that particular cycle.
Back in 2017, Layer Ones and Ethereum competitors were the leading narratives, like Iota, EOS, Neo, and similar.
Back in 2020, DeFi or decentralized finance during DeFi summer was the leading narrative, where cryptocurrencies like Uniswap, AAVE, Synthetics, and similar popped off like crazy.

This time around, interoperability, AI and crypto gaming are the naratives that we’ve seen starting to gain ground.

If you’ve followed me for a while, you know how bullish I am on blockchain-based gaming projects. Development is slower and harder than most probably anticipate, and that makes them all the more prime to moon, particularly in this bull cycle.
— So, if history is going to rhyme and repeat itself, we are seeing Bitcoin pump, and now we are seeing other large-cap cryptos like ETH and Solana pump. Why not increase our odds of potentially making profits by front-running the third wave of money into mid and small-cap gaming gems that may be a compelling narrative this bull cycle?
These types of articles where we cover altcoins I’m looking at are my most requested articles and articles that I honestly don’t like to make. Why? Because every other crypto man makes articles and videos about their portfolios, their P&L, they go through the charts, they make predictions, and so that stuff is loaded out there for the taking.
I prefer focusing on the educational side of things to help everyone build their knowledge and confidence in this space to make their own decisions, not just blindly following someone else’s playbook without doing their research, maintenance, and due diligence.
With a current market capitalization of $14 billion, crypto gaming still lags behind the traditional web 2 gaming world, which is projected to reach a market capitalization of $389 billion by 2028.
The demand for gaming and advertising in the gaming industry continues to rise, making crypto gaming a lucrative investment opportunity.
So, we are going to explore some gaming coins together under one condition: that by you choosing to continue reading this article all the way through, you accept the fact that you will continue to do your own research and you alone take accountability for every profit as well as every single loss you suffer, every single gain you score, and every single emotion you experience along the way, whether it be massive pain or intense pleasure.
Also, take a moment to reflect on whether or not you are completely 100% okay with potentially losing every single penny you decide to throw into any crypto gauntlet, whether or not you are completely 100% okay with potentially holding loss positions over the next several weeks or months.
Cool, now that we are all on the same page, let’s visit the five gaming altcoins with massive potential, and I’ll add a sixth one at the end as a bonus.

1. Enjin (ENJ) —

Enjin (ENJ) is a platform and ecosystem that supports a wide array of projects like gaming, metaverse, virtual reality, augmented reality, collectibles, digital fashion, and esports.
It is currently down 93% from its all-time high of $4.82 back in November of 2021. As you can see by its all-time low back in 2017, this project has been around for a while and survived a few bear markets. So, they are still working and developing their project.

Enjin | ENJ

Enjin Coin (ENJ) has demonstrated resilience across bear markets and remains actively developed, suggesting potential for a return to previous all-time highs, or even new highs. Currently trading at a substantial 93% discount, it presents an intriguing opportunity.

Technical Analysis:

Bullish Trend: ENJ recently shifted into a bullish trend on the weekly chart, starting the week of October 30th, indicating positive momentum.
Buy Zone Entry: The current status places ENJ in the "Buy zone," signaling a potential favorable entry point.
Price Window: Although within a relatively narrow price window, the critical threshold is the 50-cent price point. A successful break and sustained trading above this level could trigger a significant upward movement.

Future Outlook:

Bitcoin Dependency: ENJ's success is contingent on Bitcoin's stability. A robust Bitcoin performance could catalyze ENJ's surge.

Disclaimer:

Before investing or making financial decisions, it's crucial to conduct thorough research. Referencing official sites and redeeming special offers through provided links enhances access to accurate and verified information.

🌐 Sources

2. Immutable X —

Immutable X postures itself as the first Layer 2 solution for NFTs on Ethereum, where users experience zero gas fees, instant trades, and carbon-neutral NFTs for marketplaces, games, and applications.
Basically, it’s a scaling solution for NFT ecosystems. And this one has actually been in the headlines this week: Assassin’s Creed maker Ubisoft is building a crypto gaming experience with Immutable.
Ubisoft and Immutable are developing a new blockchain gaming project that plans to offer digital ownership. Bullish!
And it seems to have started a nice wave of money flow into the crypto gaming sector. Right now, Immutable is sitting at $1.14 and is still down 88% from its all-time high of $9.52 back in November of 2021. Looking at the Bitcoin line chart on the weekly, it flipped bullish at the end of October and, in tandem with the bullish news this week, has already broken above some resistance levels. So, it’s more likely than not going on a tear upwards.
Buy Signal on IMX

3. Illuvium (ILV) —

Illuvium is an open-world exploration Play to Earn game built on Ethereum. This is a graphically rich sci-fi adventure game with its own NFT ecosystem, featuring creatures, land, materials, and other collectibles with zero gas fees and instant transactions, thanks to integration with the previous project we covered, Immutable X.
And this one was also featured in the headlines this week: Illuvium Ethereum token surges after Epic Game Store listing. Lavish Immutable X game Illuvium is coming to the Epic Game Store, and the news fueled a spike in the Illuvium token price.
Bullish for this potential gaming narrative that may take off. Right now, Illuvium is sitting at $93, and it’s down 95% from its all-time high of $911 back in November of 2021. Taking a look at the chart on the weekly, it flipped bullish at the end of October this year, and it’s been in a super narrow price range, so it’s hard to say which price point to watch it break above; maybe around the $150 or this $175 level.

4. Vulcan Forged (PYR) —

Vulcan Forged stands as a comprehensive ecosystem, offering a range of features within the play-to-earn fantasy gaming space. Key components of the Vulcan Forged ecosystem include:

Play-to-Earn Fantasy Games: Vulcan Forged hosts engaging play-to-earn fantasy games where players have the opportunity to earn rewards, including the project's native LAVA token.
LAVA Token: The ecosystem has its native utility token called LAVA. Players can earn, trade, and utilize LAVA within the Vulcan Forged ecosystem.
NFTs (Non-Fungible Tokens): Vulcan Forged incorporates NFTs, allowing users to own and trade unique in-game assets securely on their platform.
NFT Marketplace: A dedicated marketplace for trading NFTs is part of the Vulcan Forged ecosystem, providing a space for users to buy and sell digital assets tied to the games.
Decentralized Application Incubator: Vulcan Forged serves as a decentralized application incubator, fostering the development of innovative blockchain-based applications within their ecosystem.

This multifaceted approach positions Vulcan Forged as not only an NFT game studio but also a hub for decentralized applications and a platform driving the play-to-earn model in fantasy gaming.

🌐 Sources

Vulcan Forged
Right now, Vulcan Forged is sitting at around $6.50, and it’s down 87% from its all-time high of $49.2 back in December of 2021. Taking a look at the weekly, it flipped bullish mid-October of this year and has already broken through price resistance levels and is probably going on a tear.
Bullish signal

5. Ultra (UOS) —

Ultra postures itself as the first entertainment platform providing a variety of gaming industry services all in one place. You can discover, buy, and play games, watch live streaming feeds, interact with players and influencers, participate in contests, compete in tournaments, and much more.
Think of it as the blockchain version of Steam. Now, it’s sitting at 22 cents with a market cap of $78 million, and it’s down 91% from its all-time high of $2.49 back in November of 2021. Taking a look at the weekly, it flipped bullish the last week of October this year, and it looks like if it can break and stay above this 40-cent level, it may stay bullish and go higher.
Now I’ll throw in a sixth one.

Bonus Gaming #6: Altura (ALU)—

Altura serves as a robust platform, facilitating the creation and scaling of Web 3 games. It streamlines game development and enhances monetization through its developer-friendly tools and marketplace solutions.
As of now, Altura's market performance is as follows:

Current Price: Approximately 6 cents
Market Cap: $45 million
All-Time High (November 2021): 46 cents (86% down from its peak)

Analyzing the recent trends:

Bullish Flip: Altura shifted to a bullish trend in July of the current year.
Resistance Breakthrough: There are indications that Altura has successfully broken through certain resistance levels.

This data suggests a potential upward movement for Altura in the near future. The positive market indicators, combined with its developer-centric features, position Altura as an intriguing player in the Web 3 gaming space.

🌐 Sources

ALU Breaking pattern

Bonus Gaming #7: Ready Games-Top Pick for Web3 Game Development

Ready Games stands out as a leading force in the web3 game development landscape, setting itself apart from traditional gaming ventures. Key highlights include:

Conversion Focus: Ready Games concentrates on transforming popular web2 games into web3, a strategy that fosters genuine player engagement and facilitates significant game adoption [2].
Blockchain Compatibility: The platform supports major blockchains, showcasing versatility in its integration capabilities. This compatibility ensures seamless interaction with various blockchain networks and enhances the gaming experience [5].
Integration with Top Game Engines: Ready Games seamlessly integrates with leading game engines, reinforcing its commitment to accessibility for developers and players alike [5].
Partnerships with Studios and Publishers: Having successfully onboarded over 100 established studios and publishers, Ready Games boasts collaborations with renowned games such as Runestone Keeper and Zula. This broad network contributes to the platform's diverse and engaging gaming ecosystem [2].

In the ever-evolving crypto gaming sector, Ready Games and similar projects play a pivotal role in shaping the future of gaming. As they explore layer-1 and layer-2 blockchain solutions, these initiatives offer valuable insights and present exciting opportunities for those keen on staying abreast of industry advancements [2].

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