Among those who are active in Cryptospace and even those who are generally onlookers, 2022 was certainly an interesting year, too. The markets reach large price points thus leaving a lot of people devastated.
The more people compare the prices, the higher the global lockdown, The Bull Run has been in the past two years. It appears that in the last few years of the year, Microsoft and Sony fell in trouble despite the negative status quo on related topics such as Bitcoin.
In 2022, the prices for gaming related tokens increased huge. Let’s look deeper into who has already been left kicking and screaming in 2022 as we enter a new rotation around the Sun.
@ The Sandbox.
What token is better?
The worst in gaming history is a surprise. Three gaming-related coins have seen huge losses. These are:
- Decentraland (MANA) is not the capital of the country.
- The Sandboxes (SAND) are a trademark of the original site.
- Axie Infinity (AXS)) (AX), an Axie Infinity.
Decentraland became an extremely important investment in 2022, with the loss of an important ten percent of its value. This time last year, the token was linked to the incredibly popular VR Metaverse experience. This time last year it was priced at $3,40 and dropped in price from there as it ended 2022 around $0.30.
The Sandbox was close behind MANA, seeing a further 99.4 percent drop over the course of 2022. The Sandboxs token was an average $550 mark this year. It’s now at $0.40. The Sandbox is a highly popular VR/AR game in the metaverse that has been used to connect between Web2 and Web3 for established brands and organisations.
Finally, the Axie Infinity Review (AXS) also took a 94% blow to its price. At the time of the price fall by 308, it’s estimated at just six cents per token. Although the value of the game remained very popular, there has been a drop in the price of a total of 80 dollars since in the summer of 2021. Players have travelled to Spain to battle it out at the first Axie Infinity Championship!
What caused the price of food to fall?
The financial markets haven’t been good at this time since the beginning of 2022. When bull run, it would end, but nobody would’ve expected to do so in 2022 like that.
As far as it stands, there was a crisis in Europe that led to a panic when everything was set to the point of the crisis. By comparing these two up, the market got into a vast panic. The stocks and cryptocurrencies are valued as more risky investments when they are experiencing the economic hardships.
In addition to the Crypto market, there were few aforementioned scams, such as the cyber attack and fraud. These ultimately mean that in the future, money swung through those gaming dollars mentioned above.
@ Thesitos!
Axie Infinity was hacked back in March of 2022 and resulted in 620 millions of dollars being stolen through fake job postings by north Korean hackers. As soon as they opened up the malicious PDF, workers allowed their computer to be infected. This hack pushed waves across the Cryptogames community, not just the Axie-like community. This was a real eye opener. It was much more to be done when it comes to security and the implementing action.
There was also a huge hazard coming as a surprise because of the fact that Cryptocurrency was pegged against the US dollar making it a stablecoin.
The USSR feared that FTX became the world’s largest cryptocurrency exchanges would be in bankruptcy owing to the fact that their founders used their money to fund their own expenses.
Around 20 billion were wiped out from the crypto market by Solana being one of the worst hit crypto tokens. Binance, who was a keyholder or whale holder when discussing the FTT token. The business ended when they sold their house and all went crashing down the bill of Sam Bankman Fried and his posse. Overall it was clear that the market felt the effects FTX had caused.
Not all doom and glare doom are in order.
The stuff we have covered in the above is very tearjerking, but it isn’t all doom and gloom for Cryptogaming. Although adoption is not necessarily on mass scale, it has grown a little since last year.
Big web2 gaming companies have shown interest or pledged interest towards Web3 which should hopefully attract their denhard fans over to the blockchain list.
In addition, there have been advancements in the graphics and gameplay that the web3 gaming has to offer. Many of them have started building their infrastructure using Unreal Engine 5, which is the most advanced game development tool on the market.