5 GameFi Projects Worth Monitoring in 2024

In the midst of various new sectors in the crypto industry, it seems that the Web3 or GameFi gaming sector refuses to lose prestige. Based on a report from CoinGecko, there are 720 GameFi projects created in 2023, which is the second highest number after 2021.
Most likely the GameFi sector will have good potential in 2024, based on last year's achievements. This article takes a look at five GameFi projects worth paying attention to in 2024.

ScapesMania

Image: ScapesMania Homepage. Source: ScapesMania
ScapesMania combines Web3 and Web2 in an innovative gaming ecosystem. As a player, you can enjoy the captivating gameplay and spend hours on end.
As a crypto enthusiast, you can also use this project to earn income. At the time of writing, SpaceMania has managed to raise over US$4 million in a successful presale. The presale phase is still ongoing at US$0.007564 per token.
Considering scalability, the ScapesMania ecosystem will host many games that cater to a diverse range of users.
All projects in the ecosystem will be connected through $MANIA tokens. In the upcoming ScapesMania game, players will learn an interesting storyline, explore minigames, and unleash creativity by customizing their homes and parks on small plots of land they have around the city.
$MANIA, ScapesMania's utility token, serves as a reward for players, provides governance rights, and can be staked for profit. Furthermore, $Mania also has a
token buyback & burning mechanism, which operates as follows:

• Buying back $MANIA tokens from the community using platform revenue
• Burn tokens to reduce the circulating supply and appreciate the value of ScapesMania, potentially increasing profits for holders.

Based on an official statement from the ScapesMania team, $MANIA token has the potential to experience value appreciation. Players can also earn additional rewards, including a stage bonus of up to 25%, a buy-in bonus of up to 25%, and a vesting bonus of up to 42%.

Illuvium

Illuvium is a fantasy role-playing game developed on the Ethereum blockchain by a decentralized autonomous organization (DAO) called the Illuvium DAO.
At the end of 2023, Illuvium announced that Illuvium Beta 3: PvP will be available on the Epic Games Store. Please note that Epic Games is a popular game publisher and marketplace among gamers.

🌟 Major Announcement, Rangers! 🌟

Mark your calendars for November 28th! The moment you've all been waiting for is here! Illuvium Beta 3: PVP is coming, and that's not all—we’re live on the @EpicGames Store! While you can’t download it just yet, add it to your wishlist and… pic.twitter.com/NNdpBLa1h8
— Illuvium (@illuviumio) November 8, 2023

Illuvium has its native token ILV which in the past year has seen a +122% gain from US$38.15 to US$84.76. With an all-time high (ATH) price of US$1,930, there's still plenty of room for ILV to experience price appreciation as GameFi begins to shine.

Pixels

Pixels is an open-world game with the theme of farming, exploration, and creation. This game joins the ecosystem developed by Sky Mavis, the developer of the popular play to earn game Axie Infinity.

Images: Pixels game view. Source: Gam3s.gg

The game has two native tokens, namely BERRY as a reward token to players and a PIXELS token as a governance rights token. The PIXELS token has not yet been released and will be shared by airdrop at a later date.

Treasure

Treasure is a decentralized gaming ecosystem platform built on the Arbitrum network. Its native token, MAGIC can connect players to all games in the Treasure ecosystem. The platform consists of at least 12 games with some popular ones like Bridgeworld, Realms, and Beacon.

Figure: A collection of games in the Treasure ecosystem. Source: Treasure

MAGIC has recorded an increase of about +100% from US$0.488 to US$1.15 over the past year. The ATH price of this token is US$6.92, or about four times the price per article written (11/1/24).

Vulcan Forged

Vulcan Forged is a Web3 gaming ecosystem consisting of internal game studios and external studio partners, a game marketplace, and an incubator program for budding developers. Since 2022, Vulcan Forged has its own blockchain network called Elysium.

Image: Vulcan Forged homepage. Source: Vulcan Forged

Vulcan Forged has a native token called PYR which functions as a governance rights token as well as a medium to interact on the platform. PYR has seen an increase of +164% from US$2.66 to US$7.02 in the past year. The ATH price of this token is US$55, or about 8 times the price per article written (9/1/24).

Conclusion

The GameFi sector is poised to continue growing in 2024, with projects like ScapesMania, Illuvium, Pixels, Treasure, and Vulcan Forged leading the way. With its unique features and growth potential, this GameFi project deserves to be closely monitored. Among these GameFi projects, SpaceMania is interesting to watch with innovative ideas and achievements in its pre-sale stage.