Over the past 24 hours, GameFi tokens such as Gala are up over 3%, according to The Block’s pricing page. Gala acts as a medium of exchange for in-game purchases and voting rights within the Gala Games community.
However, when we return to the monthly view, the recovery in Web3 games becomes more pronounced. Over the past 30 days, Gala is up 228%, The Sandbox’s Sand token has gained 91%, and Axie Infinity’s AXS is up 71%.
Gala token prices have increased by over 3% in the last 24 hours. Image: The block.
According to Edward Wilson, an analyst at Nansen, this outperformance indicates that significant investor activity is moving along the risk curve. “As the market begins to heat up, investors are looking for higher returns beyond major cryptocurrencies such as bitcoin and ether,” Wilson told The Block.