Besides new gaming TGEs not looking too good, the overall gaming sector is. YoY we're only up 4.7% in MC, but over 150% in volume. Most of this volume is flowing into the dino/established tokens, not most new TGEs (hopefully later in this cycle).

How Gigaverse ROMs continue to accrue value:

There's a clear divide between crypto games for Web2 and Web3. Yet, the thesis of a metagame for crypto natives, built on top of a killer app, remains untested. Will there be edge cases that can pave a path in between?

The intersection of wallets and social is happening: 1) Abstract is working on crypto consumer identities 2) Ronin is creating an interoperable crypto gamer identity Onchain history will only become more important in getting access to opportunities.

Was the metaverse crypto gaming's largest vision that retail will ever rally behind? It was this belief that powered the "gameFi cycle" and captured the speculative capital of the broader market. But that narrative has clearly crumbled.

Abstract chose not to (directly) incentivize volume and so TVL from the start. This led to some cold start problems, but now a more product-driven TVL approach is bearing its fruits. The recent spike seems largely driven by people bridging PENGU from SOL → ABS.

BTC → ETH → alts → gaming (?) Jihoz's argument might be a bit of an oversimplification of why gaming has underperformed. But AXS also peaked at almost the exact same time ETH did in November 2021.

Gaming has indeed been offmeta for the past 12 months or so. But it remains the most entertaining wrapper to make money in crypto (CT's version of entertainment). This remains the biggest bull case for games built for natives, like Gigaverse.

The 2023- 2024 (gaming) NFT cycle was different than this one. Last year, we quickly saw the sale model progress from: free → paid → auction (marking the top). This year, we haven't progressed past paid NFT sales, as supply largely outweighs demand.

This list is from September 2024, and it's unlikely you can find three tokens or NFTs that have been up since then. It's also interesting to look back at what had significant mindshare at the time. Would likely look very different now.