LBank Announces Second Launchpad Poject - MetaExpand (UMM). Is this a Major Breakthrough for GameFi (X to Earn)?
TAIPEI, Sept. 14, 2023 /PRNewswire/ -- Recently, market sentiment and expectations for the GameFi sector (also known as 'X to Earn') have soared again. LBank's first Launchpad PINS (Chat to Earn) from last month has seen an increase of 724% even in a bear market. Up to now, the highest increase is nearly 10X.
According to the announcement, LBank started its second Launchpad today, still in the GameFi domain. This project, called MetaExpand (UMM), significantly bridges the technological gap between public chains and metaverse applications. It offers storage, communication, privacy, cross-chain, and transaction plugins and development standards, making it easier for developers to create metaverse applications without worrying about underlying blockchain technology. Its game 'Jurassic Virus' allows players to explore and interact in a complex metaverse.
Prominent Twitter KOLs like @Rocky_Bitcoin have started to predict that GameFi will be one of the major directions for the next Web3 cycle. Based on observations during a personal visit to Kuala Lumpur, @Rocky_Bitcoin concludes that the latter half of this year could witness a significant boom in GameFi. From both a capital return and gaming development cycle perspective, timing appears opportune for entering this space.
While some aggressive exchanges have started listing GameFi tokens in bulk, most have adopted a conservative approach by listing only fundamentally strong tokens. These tokens have generally performed well. For instance, MetaMecha on KUCOIN surged by 20%, Typeit on Bitget and LBANK soared by 1322%, and PINS on LBANK also saw a 724% increase.
In general, mainstream exchanges go through a rigorous vetting process, making GameFi tokens listed on these platforms generally considered more reliable or having better market prospects. On the flip side, exchanges that list tokens too frequently need to exercise caution. For example, while tokens like Rainbow Token (RBW) on MEXC have done well, surging by 169%, others like Eternal World (ETL), Wrapped Moxy (WMOXY), and BitCoin Battle (BBC) have seen significant drops, with losses of up to 50%.
Overall, the frequent listing and mostly positive performance of GameFi (X to Earn) tokens reflect high market interest and optimism in this sector. However, due to its high-risk nature, both investors and gamers must conduct thorough research and risk assessment.
Factors to Consider
When considering investing in GameFi, the following factors need careful attention:
In making investment decisions in the GameFi sector, it is imperative to consider a range of factors listed above, as well as conduct extensive market research and risk assessment. Let us delve deeper into the recent performance of GameFi projects listed on exchanges, to gauge whether explosive growth is anticipated.
Recent Performance and Highlights Across Exchanges
Over the past two months, major exchanges have been increasingly active in listing GameFi (X to Earn) tokens. The following outlines the recent listings and their respective performances on various exchanges:
Let's focus specifically on the performance of LBank's last Launchpad offering, PINs, which may provide valuable insights for LBank's current offering, UMM. Since its IEO on LBank, the price of PINs Network's token, PINs, has soared by 724%. Early investors who participated in the IEO have potentially earned up to $7240, based on this IEO's individual hard cap of $1000. As a social metaverse project (Chat to Earn), users can nurture their NFT pets Noki in PINs by increasing their interactive behavior on Twitter. Currently, PINs has 14.1K followers, and each post in recent days has reached over 50K views, with an engagement rate close to 6K. This shows that aside from price speculation, such X to Earn projects have a large number of users willing to engage genuinely. LBank's latest Launchpad offering, UMM, has similar features. Tokens used in the 'Jurassic Virus' game can only be obtained through $UMM. They can be used for various in-game activities but can only be converted back to $UMM after successful game interactions.
Considering the overall performance data and the prevalence of Launchpad projects in the GameFi (X to Earn) space, it seems highly likely that we might see one or two dark horses in this sector in the second half of the year. In particular, Launchpad projects are worth participating in. Whether LBank's Launchpad MetaExpand will become one of these dark horses remains to be seen.
Additionally, investors should be attentive to the dynamic changes in the market to adapt to this rapidly developing and challenging sector. This will assist investors in making informed decisions in the GameFi (X to Earn) industry.
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