In the last 30 days, the market capitalization and trading volume of the crypto gaming sector have fallen by at least 29%. This plunge can be attributed to a broader market decline across most cryptocurrencies, especially bitcoin (BTC).
Despite this negative trend, most gaming projects have not relented in their development. The crypto analytics platform Santiment has outlined the top gaming projects by development, and this list is led by MultiversX (EGLD), Decentraland (MANA), and Skale Network (SKL).
Top Gaming Projects By Dev. Activity
MultiversX has recorded the highest development activity in the last 30 days. The project is a scalable distributed blockchain network for next-gen applications. Called the internet-scale blockchain, MultiversX has an ecosystem that spans several sectors, including decentralized finance (DeFi) and wallets. However, its gaming products have been brought to light in this case.
Since July 2024, the gaming protocol has consistently led development activity in the sector. Its native token, EGLD, is the eighth-largest gaming asset, with a market cap of more than $496 million.
Following MultiversX is Decentraland, a decentralized social virtual world where users can create memories, connect with new friends, and explore events. Decentraland’s MANA is the fifth-largest gaming asset by market cap. Like MultiversX, the project has maintained its position as the second leader in development activity since July 2024.
Skale Network took the third spot; however, unlike MultiversX and Decentraland, which have been leaders in the past seven months, Skale’s activity recently witnessed a significant spike. The zero gas fee blockchain has mostly taken fourth place behind Immutable X (IMX) or Nine Chronicles (WNCG). Skale’s token SKL is the 18th-largest gaming asset by market cap.
Saito And Enjin See Notable Dev. Activity
Immutable X is the fourth leading project in development activity. Its activity did not significantly increase in the past 30 days, hence the overtaking by Skale Network. Regardless, IMX has the largest market cap in the gaming sector—above $932.8 million.
The fifth project with the highest development activity is Saito (SAITO), a blockchain that also operates web3 applications directly in browsers. Saito is followed by The Root Network (ROOT), which is a hub for the open metaverse and a foundation for connected games. Both Saito and The Root network saw no significant spikes in the development activities.
Enjin (ENJ), which offers a suite of integrated gaming products, took seventh place. Development activity in The Sandbox Game (SAND) placed the project in eighth place, while the Ethereum-based decentralized game console Treasure (MAGIC) came ninth.
The decentralized cloud computing platform Cere Network also recorded notable development activity in the last 30 days.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
