Gaming tokens have vanished from the top 100 cryptocurrencies by market capitalization, with the last holdout, Immutable (IMX), falling from the rankings. Just a year ago, there were six gaming tokens among the top 100, with a combined market cap of $29.3 billion, now reduced by 68% to $9.24 billion. The decline is tied to a broader crypto gaming cooldown and ongoing SEC investigations. Popular titles like Gala Games and The Sandbox have seen their tokens plummet in value. Despite new launches, such as the GUN token for the Off the Grid game, interest remains low. Development hurdles and financial struggles have led to project cancellations, such as The Mystery Society and Illuvium, which faced backlash due to unmet expectations. While some developers are optimistic about future games contributing to the ecosystem, many crypto games still lack quality and player engagement, ultimately resulting in significant financial losses for investors and creators alike.

Source 🔗