The crypto market has seen a lot of volatility in the past week, especially with its reluctance to break past $38,000.
However, specific classes of tokens have refused to let this bring them down.
Over the last week, instead of struggling with volatility and registering lows, Gaming, NFT and Metaverse tokens appear to be outperforming everything else, and we want to know why.
Axie Infinity and Ronin, likely some of the most popular blockchain gaming platforms out there, are taking the lead.
Axie Infinity has proven itself to be one of the most successful gaming projects of all time. It is a game in which players can collect, breed, and battle NFT-based creatures called Axies.
At the time of writing, Axie infinity with the ticker symbol $AXS is down by about 2% over the last day. However, the magic happens on the weekly and monthly perspectives.
AXS is up by about 10% on the weekly perspective and by more than 20% over the last month. The cryptocurrency currently trades at about $6.72, while $SLP, its companion token dropped by 9% in the past week, but is still up by 17% from 30 days ago.
One of the biggest factors that has boosted the price of AXS is its Ethereum sidechain network, Ronin.
Ronin's native cryptocurrency $RON has advanced by more than 3% over the last day according to CoinMarketCap, and has registered 30% and 130% gains over the last week and month.
Decentraland and The Sandbox are two of the most popular and well-funded metaverse platforms in the crypto space.
With the sudden surge in certain classes of cryptocurrencies, Decentraland ($MANA) and the Sandbox ($SAND), being metaverse cryptocurrencies, have also become some of the top gainers.
Decentraland or MANA, for example, is up by about 4% over the last week, and by about 25% over the last month (despite losing its footing around $0.46 last week).
The Sandbox too, has been very bullish over the same timeframes.
According to CoinMarketCap, the Sandbox has had a pretty rough November. However, it is still up by about 20% over the last month.
ApeCoin is arguably one of the most popular NFT tokens on the market.
It is the native cryptocurrency of the Bored Ape Yacht Club (BAYC) NFT collection and has also risen by more than 8% over the last week to a price of $1.59.
Apecoin, despite a drastic decline from $1.77, is still up by about 17% over the last month.
Other gaming, metaverse and NFT tokens that have surged over the last week and month include Stepn (GMT), which has increased by 11% this week to nearly $0.29. GMT, the native token of Stepn, powers a fitness app and uses NFTs and crypto to reward users for exercising.
Illuvium (ILV) too hasn't been left out, with its 9% rise over the past week to about $114.
Treasure (MAGIC) has jumped as well, by nearly 24% in the past week, according to data from CoinRanking.
Overall, this rise in blockchain gaming, metaverse and NFT tokens may be one of the first warning signs that the more fun parts of the next bull run are starting to return.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.