The GameFi ecosystem has changed a lot over the past few years, and the industry presents some opportunity to add value quickly to catch up with the gaming industry as a whole. Blockchain gaming is still valued at around $10 billion in 2022, while the largest gaming industry was valued at $198 billion in 2021 and is expected to exceed $200 billion in 2022.
ApeCoin (APE) is a leading gaming cryptocurrency with a wide reach, and Moshnake (MSH) seems to have that kind of emergence in the cryptocurrency market. Even with market conditions, the top gaming tokens on ethereum blockchains have a market capitalization of around $1 billion, hovering around their lows. The peak of these tokens was several times over $1 billion.
Ethereum tokens like ApeCoin (APE), Decentraland (MANA), Sandbox (SAND) and Axie Infinity (AXIE) have the highest value for gaming tokens, and they are the standard to watch when projecting the potential of a new game project like Moshnake.
Although Moshnake (MSH) is launched on the BNB chain, it still seeks to outperform existing cryptocurrencies and has a clear path to do so.
ApeCoin (APE) is a utility and governance token created by Yuga Labs for the APE community. Yuga Labs is the parent company that owns top NFT collections like Bored Ape Yacht Club, Mutant Ape Yacht Club, and even more recently, The Otherdeeds for Otherside collection, which has been proposed for blockchain gaming. Holders of these communities were supposed to be in the APE ecosystem, and they got ApeCoin (APE) worth thousands of dollars as airdrops when the token was launched.
Yuga Labs has announced plans to create a blockchain game that the community has only seen a glimpse of. However, it seems to be one of the most promising games to come out of the cryptocurrency market, given that the ecosystem holds the most value in the NFT market.
Even recently, Yuga Labs acquired top collections like CryptoPunks and Meebits from Larva Labs, which was once a top brand for managing and building solutions for users through its NFT offerings. ApeCoin has a market cap of over $1.5 billion as of September 19, 2022.
Nokia Phone Nostalgia – Moshnake (MSH)
Moshnake is a new blockchain game on the BNB Smart Chain. The game would argue that it chose the network over the ethereum blockchain for its scalability capabilities. Moshnake is a gaming game derived from the classic snake games of previous Nokia phones. Moshnake is a much improved version that allows players to compete online for prizes, NFTs and other in-game resources tradable in the in-game market.
The game has several modes, which include Player vs. Environment – a great way to quickly learn how to play and use your Moshnake NFT to acquire other assets before moving on to Player vs. Player modes. The player versus player mode takes on a battle royale style where you have to hunt for items and store them in a black hole that appears in the game before other players kill you. If you are killed before you can store these assets, they go to the player who killed you.
Moshnake has it in its style to become the game that pushes blockchain gaming to the mainstream and could potentially be a $1 billion market cap cryptocurrency to begin with. Moshnake Token (MSH) has a supply of 1 billion and is currently in presale. The token is valued at around 3 cents on presale, which values the market cap below $30 million. The Moshnake token reaching a market capitalization of 1 billion could allow early investors to earn more than 30 times their initial money.